The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-10-02

tons. During the past twenty years !,
has been called upon 70 settle ana ci"ss
I'D many surh trusts by foreclosure al
Otherwise IT has frequently beeh ~
duty TO suggest 70 courts Ct s9o-ts me
names OF suitable and proper persons 10
~ agTsosnfed receivers. and its sdggss-
lions have. attn scarcely any exceptions.
been followed. IN the making OF
such suggestions. however, and
such persons. IL has not acted
ia its own interest nor has il nominated
It's own personal or business friends y
receiver must be the best person avail
aDIe 70 produ~e tire best results Oft C. the
properfy committed TO his charge. Re
csigers in foreclosure suits. vei.h scarcely
any exception, are suggested 10 the
tlustee in advance by bondh0l2e-s ard
others interss FL in obtaining the hest
possible administration Of the estate 10
nominate receivers for great property
Ike That 81 fs Northern Pacific Eail-
road Company is no simple. easy matter.
bu- il Involves an enormous fesponsif IL
icy. Whca 4 became evident that such
appointment must soon be ma lie. num-
Der OF persons. connected in various vsys
with the corporation and as securities.
called upon the president % she trustee
al different times, and suggested he
names Of persons supposed to be (. pecial-
- +@~t-f +@f --4S appointment
Why Cakes Was Nominated.
The president Of the trustee considered
very carefully all that wa said. and gave
peculiar attention TO the question. l. was
evident that an administrative head was
needed-a man OF peculiar knowledge as
10 the AFFAIRS or the road and as 20 the
people and communities through which II
passed. and there seemed 10 be only one
man possessed Of those requirements, and
EaH
complainant was from the first convinced
that Mr. Cakes was Of all men the proper
man 10 be appointed. whether &; were
necessary 10 associate any one else with
him or not. No other person was sug-
gesied 20 the complainant so ;.eculiarIv
fitted to carry on the operation Of the
road, and those who named other persons
seemed 10 agree that Mr. Cakes service
could not be dispensed with without great
INJURY TO the best interests OF all con-
cerned. /; was also urged upon the trug-
tee that, as the business OF the receiver
SNIP would ne enormous. some person or
persons would be needed TO attend 10 the
numberless contracts OF the railroad com
pany and 10 the immense amount OF bust
ness distinct from operating and manag-
ing me road itself. II was understood
that the work would be very great and
that the management Of the financial az
faiFs OF the company would require great
StsfAA anu GA I1F-fEt42ct. r tfdltN. DuE not Gg
the result Of any special consultations
and meetings. one or more. nor. so far as
the trustee knows or IS informed, after
communication with Or from Henry VII
ard, X seemed 10 be agreed by all the
parties IN interest who communicated
with the trustee and its president. that
the best interests Of those concerned IN
the property would be subserved by the
appointment OF Messrs. Cakes. Payne and
Rouse. II is no. true that the receivers
or any Of them were appointed as rep
resenting or to protect any peculiar in
terest except the general interests COM
mon TO all financially concerned IN the
Northern Pacific and its property
The answer closes with an expression
Of regret that the application Of the trust
company for a removal Of the case TO the
court IN Wisconsin had been overruled by
Judge Hanford. and suggests that The re-
ceivers ought to appear either .here or
here 20 answer the charges made against
them.