The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-09-03

IL tire world - placed n th7 pps4isSA Is
agent OF the court 70 handle t1ss property.
Il - going 20 raise or decrease TIE vaiae
o. tssee securities Is a fallacfous idea
NJ AIieu-WEth the personnel OF the Te-
essve~Kafr. may Il please your honor. The
trust company g not eoncerned- IL Is
only. as ! say. properly and tnfellisentiy
70 guard SIS interests and discharge ITS
duty as a trustee that II = actnated ~ THIS
matter As 70 whether these gentlemen
were wisely appointed and whether they
should continue - a question IN which Il.
~ far a. they are personally concerned.
takes no interest. and IL Is only 20 guard
the trust with whtch II Is charged that II
IL acting IN the matter
shall the Receivers BE Changed
The Court-weII. the position taken by
the trust company in this matter. that
there should Be a court OF primary turis-
dlction and its proceedings 50 far should
not be disturbed. is question on which
the court has, with ali the objections
which the time al our disposal would ad-
NIT Of. listened 70 you. We heard the an
swers and We have heard the arguments.
and we felt impelled 20 render a decision
denying the Jurisdiction OF the circuit
court at Milwaukee as the court % pri-
mary Jurisdiction. That question IS pass
81. The question that remains is whether
these three men are going TO continue as
the agents OF this court. or whether they
must give place 10 others, and all the
difficulties that have been anticipated and
placed before our eyes OF assuming turis-
diction 20 hear this matter and the running
the risk Of having process OF this court OPP
posed by the process from other courts.
we have faced and passed. We have de-
clded that II is our duty 10 consider now
the question % the personnel of the re-
ceivers and that Is what remains
Ar. Ashton. speaking on behalf OF the
receivers. suggested that as their general
counsel resided in New York the time
should be extended 50 that communication
could be had with him and others closely
connected with him. in order TO secure
fun and complete answer.
Mr.. Petit followed Mr.. Ashton. saying
he recognized that counsel would require
time to prepare an answer I'm a case OF so
great import. and he had no disposition
TO make the proceeding unduly inconven-
lent for them. At the same time. he said.
the affidavit OF Mr.. Ives would snow that
IL did not deal with the transactions CT
the reeeivership for two years. 1t pointed
cut three or four specific charges. and
was confined 20 an inquiry whether those
things were true or false, in the knowl-
edge OF the receivers. OF their general
counsel and OF all their general officers.
There was required no reconcile exami-
nation Of books, papers or accounts. nor
rny statement of the general history of
the receivership. Counsel continued:
Mr.. Petit W.. Mr.. Spooner.
III the receivers were In this city they
could write this answer in two days or
they could not write IL in two months or
two years. and the only Indulgence that
they have is that these receivers are scat
tered over the country and are not where
they ought 10 be, attending TO their bust
ness. Now. that IS not the fault of coun-
sci and ] do not propose to impute that
to counsel but I would like the time fixed.
think that there should be an order that
testimony can be taken at once and that
we are not bound by the ex parte state
ments OF Mr.. William Nelson Cromwell
or anybody else. We can examine him as
10 what he has 10 say. and / think that
the answers will be very short, and the
proceedings likewise"
Mr.. Spooner lost no time In arising TO
reply TO his antagonist. He said:
II suspect that my learned friend will
find all that he really desires TO occupy
his time in managing his side of this con-
ffoversy. l suppose this matter will be
conducted according to the ordinary pro-
cess of the court in such cases. These
receivers do not desire any unnecessary
prolongation of this matter; they natur-
ally would not. But your honor viii not
overlook the fact that they reside a long
distance from Seattle, as do most of their
In which he is becoming quite accustomed.
at these receivers, that they are scattered,
and that IL they were where they ought
10 be. attending to their business. they
could make their answer In a couple OF
days.
1T Ia evident, whatever else may be
said about these receivers and the policy
which has governed them I'm the admins
tration Of this trust. that they have given
great deal Of attention to the business
of this rcceivership. One of them has
almost broken himself down in health
Mr.. Cakes is attending TO the duties OF
this receivership and the administration
Of the trust and the management of this
property at 81. Paul. Mr.. Rouse was ac-
corded a division of labor by giving him
the management Of the financial phases
Of IL in New York.
some History 10 Re Fully Exposed.
This affidavit Is a very general AFT
davit in many ways II calls for an an
swer from the receivers as 10 the prefer
entail indebtedness. II will be necessary
in order TO meet 70 20 make 10 the court
a fun and complete statement OF the
status or the preferential indebtedness.
Some Of the matters mentioned in the afli-
davit l know OF. and others ] know moth
ing OF. This answer Of the receivers viii
he very fun. but VIII not give n general
history Of the rcCeivership because that
Is entirely unnecessary. but II will be nee
cssary 10 fully expose the history of a
number OF matters which are referred to
In the affidavit The allegations as to the
relations OF Mr.. Willard and the bringing
81 suits against Mr. Willard. involving
the Rock Creek road and the Northern
Pacific & Manitoba. involves quite an
elaborate presentation Of complicated
facts. upon which the receivers arrived
at conclusions. and upon which they have
acted by tho advice Of their counsel
or course. the charges made against
he receivers are serious. The proposition
that they be removed for alleged rlis~or-
duct IS hardly one which calls Tor s,rb
summary action AS TO preclude the fullest
opportunity 20 them 20 make reasonably
complete answers These answers win hf
under oath OF each OF the receivers and
10 VIII De- necessary OF course 10 Obtain
some of tho information from New York
and some from 81 Paul"
The Court Asks for an Accounting.
Al this point q recess was taken ANA
counsel agreed that the answer should he
uled by October .. thirty DAYS from date
Mt F"ttli addressing the court. then said
that to him it seemed perfectly obvious
that she receivers. within the time limited
IN alch "a ME the answer should also ffIa
N court accounts commencing with the
date az the last account reported ON by
the master appointed ia Judge Jenkins
court. and should continue 20 tile in this
court accounts Of their rcceiverShtp.
Mr.. Spooner accounted for ths failure
heretofore 10 nle accounts in the court
here hy stating that she receivers hal
treated the court for tho Eastern district
- Wisconsin as the court of primary u-
uettctlon and in nllng their accounts
bal Applied 20 that cour, for their inSt~lie-