Cottonwood report. [volume] (Cottonwood, Idaho) 1893-1901, 1895-10-04
NEW NORTHERN PACIFIC RECEIVERS
Edward w. McHenry and Frank G. Bige.
low the Men.


low the Men.
Milwaukee, Sept. 2S.-Edward W. Nc
Henry, of st. Paul, chief engineer of the
Northern Pacific railway, and Frank G.
Bigelow, banker of this city, were APP
pointed receivers of the Northern Pacific
road by Judge Jenkins this morning.
Bigelow is to be known as the financial
receiver, and will have charge of all mat
ters pertaining to the finances of the
property. McHenry, who for years has
been chief engineer of the Northern Pa
cific, and knows every inch of the road,
Is to have charge of it's operation. The
new receivers are ordered to file bonds
of $500, 600 each within ten days, and re-
port to the court in the same manner az
their predecessors. If at any time the
appointment of third receiver is neces-
sary the appointment will be made.
w. D. Van Dyke who appeared for the
second and third mortgage bondholders,
| opened with the suggestion that unless
| the court had already fixed upon the APP
pointmentS, Thomas +. Lowery, of Mimi
eapoliS, be appointed.
| 81 have given much thought to the sug-
| gestions of Mr.. Lowery and of other
| names that have been suggested to me,
and such as have occurred to myself. The
court thinks it pertinent to say by what
consideration it should ge guided in MAX
| ing the appointments of receivers. TO
| certain degree the practice of railroad re-
ceiverships has obtained for parties to
| agree on more names and suggest them
to the court. The appointment usually
| follows, as a matter of course, for il the
parties concerned are contented the court
may well be satisfied. Such receivers
have severally represented conflicting in
terests uniting for one purpose. AS the
| fight wakes warmer between the fac
tions, the heat of the conflict extends;
| to the receivers, which in time becomes
| a war of factions among the officers of
| the court.
"Now comes the question in hand. The
receivers to be appointed by this court
must come within the definition of the
| law, as l construe it. They must be men
entirely Indifferent to the contending fac
lions. They must have no connection
with the fight. They must be men who
are strict and impartial, and who will per-
form the duties in devotion to the trust
and with no Interior motives to serve
With respect to the name of Mr.. 14owery
he is president of the 500 railway, line
supposed to be operated by and in the
interest of the Canadian Pacific, which
is a competing line with the Northern
Pacific, and although it has been sug
gested to me that Mr.. Lowery, if appoint
ed, would resign that position, the court
is still very DESTROYS that the men to be
named should, if possible, be like Caesars
wife-'above suspicion and free from any
relations with anything antagonistic tt
the Northern Pacific"
When he concluded Judge Jenkins in
structed the attorneys to draw the ordel
and he would sign it.
Herbert e. Turner, attorney for thu
, Farmers Loan and Trust Company, eX
pressed satisfaction at the wisdom dis
played in the appointments, which, h
stated, would be most satisfactory to thu
interests he represented,
! IVES AND PARTY DISSATISFIED.
st. Paul, Sept. 28-Mr. Ives and part.
left for the west this afternoon. Befor
leaving the feeling of the entire part.
was well stated by one prominent stock
holder, who said:
1.-THE appointments made by Judg
Jenkins today are not satisfactory to tn
reorganization committee, the secon
mortgage committee, third mortgag
committee, the trustees nor anybod
| elSe,''