The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1895-10-05
NAMED.
VINO Are to Take Charges: of the
""" NOrthcrii Pacific.

RECEIvERs NAMED
VINO Are to Take Charge: Of the
Northerii Pncilc =.
milwaukee,, Oct. 1.-TranI G. Big
Observation-Disclosures and Edwin w. Nc
Hslvy of st. Paul were appointed by
Jdlse jenkins to succeed Henry G.
4 Payne, Thomas +. Cakes and Henry
! c.. Rouse as receivers OF. the Northern
Pacific Railroad company. Mr.. Bigc-
low is to he known as the financial re-
and will have charge Of all mat
ters pertaining. to the finances of the
property. Mi. Mc1Icnry. who for
years past has been the cl1ief engineer
Of the Northern Pacific. and who
knows every inch of. the road, is to
have charge of its operation. The new
receivers are ordered to lille bonds. in
the suln Of 100000 cach::s Within ten
days. and to report to the court in the
same manner as their predecessors.
II at any time the appointment Of d
third receiver is necessary the 'ap-
pointment will be made. ~ ,4>
In making the appointments, Judge.
Jenkins disrcgarded the wishes of: the
trustee and the different boRdhotdGrs.
IIc said that the history of receives
ships demonstrated the i~nadvisahjlity
of appointing receivers who were. con
nected with %contending hotions.F Re-.
ceivers were officers Of the courts and
not the agents 'offtfe parties interests
ed in the property. and for this reason
they should have but ~.siie-$ingle object
to subscrvc the interests of fhe: prop
crty intrusted' to them, and Should
hold no other allegiance than to. the
court. ....,*'s " :.
w. D. yahdykc. who appeared for
the second and third mortgage bond
holders. opened with the suggestion
that unless the court had already, fixed
upon the appointment. Thomas F.
Lowry of Minneapolis be-. appointed.
Mr.. Lowry, he stated. was satisfactory
to the parties he represented. -.
cit was yesterday suggested" began
the court. "tliat only two receivers
| would be necessary to take. charge. of
the property instead Of three. The
J court is not sufficiently Informed to
be able to declare that the labors of
| the management of the vast property
can be properly performed or should
he imposed upon two persons, but be-
ing DESTROYS of keeping the expenses
down to Il minimum, and thu, suggest
ion being uncontroverted by COUNSEL.
the court will :yentpre. the experiment
and test the practicability Of "the
scheme, and.will appoint but two re-
c%eivers. Ii at any time the welfare Of
the interests involved for any reason
demand the appointment Of a.third re-
ceivcr. the matter will tte considered.
have given much thought to the sug-
gestions of Mr.. Lowry and of other
names that have been suggested to ME,
ard that have occurred to myself.
1.-The court thinks it pertinent to say
by what considerations it should be
guided in making the appointments of
receivers. 10 a certain degree the
practice of railroad receiverships has.
obtained for parties to agree OH one
or more names and suggest them to
the court. The appointment usually
follows as a. matter of, course, for If
the parties concerned arc .contented
tho court may be well satisfied. Sush
receivers: have severaHy represented
conflicting interests, uniting. for one
purpose. AS the fight wakes warmer
between the factions 'the best Of the
/ conflict extends to the ieceivership,
/ which in time becomes. a: war of fac
tions among the officers of the court.
That was recently eXemplified in a re-
ownership in the Northern Illinois CIR
cult. when the receivers of the court,
as the war became bitter, and as they
became unable amicably. to execute.
the trust, %insulted the court by re-
signing on the condition of the ap.
pointment of other parties Individual
ly. l do not propose that this shall
ever again happen in any suit with
which l may have anything to do.
"Now comes the question in hand.
The receivers to be appointed by this
court must come within the definition
of the law rs l construe it. They
must be men entirely Indifferent to
%contending faction; they must have no
connection with this fight; they mus4.
be men who are strict and impartial,
and who will perform the duties in
single devotion to the trust and with
no Inferior motives to serve. They
must be men of high character. capa-
bic of commanding the respect and
confidence of the great public thay
are. to serve. With respect to the
name of MI. Lowry: He is at present
president Of the 500 railroad. a line
supposed to be operated by and in the
interests of the Canadian Pacific.
which is a competing line with the
Northern Pacific. And although. it has
been suggested to me that Mr.. Lowry.
IL appointed. would resign that po-
sition. the court is still very desirots
that the men to be named should. il
possible. be like Caesars wife-above
suspicion and FREE from any relations
With anything antagonists. to the
Northern Pacific" 80.
When he concluded. Judge Jenkins
instructed the attorneys to draw the