The herald., 1896-11-11
The Santa Fe Receivership Case
a Failure
KANSAS ALIEN LAND LAW
A Dead Letter Because Not Constitution.
ally Passed
The Case Engineered by Scheming
Spectators Who Were Badly
Hurt by the outcome.
Associated Press Special Wire

| Associated Press Special Wire
TOPEKA, Kan, Nov. 10.-Judge Al
bert H. Horton, especially retained by
the Atchison, Topeka and Santa Fe
Railway company in the alien land act
| receivership case. today made an impor-
tant discovery. The act upon which the
present case is based was not constitu-
tionally passed, and, therefore, is null
and of no effect. This. it is said will
end the receivership matter most eff
| fectually.
| Judge Horton finds a fatal defect in
the house journal of 1884, which does not
record that the house adopted the bill
| by a yea and nay vote as the constitu-
| ton requires. 1t is said there are
| thirteen acts defective in the same way
! among the session laws of 1891.
THE BITERS BITTEN.
KANSAS CITY, Mo-, Nov 10.-Under
a Topeka, Kan, date the Star this even
! ing prints the following: Since the ap-
| pointment of receiver for the Atchison,
| Topeka and Santa Fe by Judge Myers
| at Oskaloosa last week, stories have
| come out which, if true, admit of little
doubt that on the part of some of the men
ton, a scheme to bear the stocks ana
bonds of the company and so make q
| lot of money for the men who stood in
| with the play.
A Kansas City man of financial worth
| and of undoubted standing in that city
declares that a few days before the ac-
| ton was brought at Oskaloosa a we'll
known insurance speculative lawyer Of
| Topeka called on him at Kansas City
with proposition that he go in with Ger
| tain Topeka, Oskaloosa and Holton men
| and make half million dollars. BY the
| terms of the proposition the Kansas City
man was to put up the money to be used
in selling Santa Fe stocks and bonds
In unfolding his plan the Topeka man
stated the terms of the Kansas alien
land act and the opportunity it offered
for the appointment of receiver for
railroad without notice to the company
He pointed out that a receiver could be
appointed for the Santa Fee and persons
who should be short" on it's stocks or
bonds would make big money for the
sudden and unexpected receivership
would bear them.
The Kansas City man finally backed
| out.
| Three or four days before the case was
| instituted at Oskaloosa it is reported
| that two bankers of jefferson county
went to Chicago and another to St
Louis, where they are said to have sold
heavily of Santa Fe stocks and bonds.
McKinley's election and a consequent
revival of confidence in the country fol-
| lowed. Santa Fe securities went up and
when it was telegraphed broadcast that
a receiver had been appointed in Kan
sas for the railroad there was boom
| all along the line and the spectators
| paid no attention to, the published re-
ports of the receivership and the play"
out here in Kansas had no effect what
| ever. Instead of making money, the
! bankers and others who invested in the
! scheme lost heavily.
! Concerned in the scheme are said to be
| a half dozen or more men of finarciai
standing in Topeka, and if the story in
| al it's details should come out, it would
| cause a big sensation.
ASSOCIATION RATES.
CHICAGO, Nov. 1O.-Pasenger repre-
sentatives of the Trunk Line association
ard of the central passenger commit
! tee met today at the Great Northern
| hotel to discuss the making of joint
rates which will enable the western
| lines of the central passenger committee
to meet the rates made by the Canadian
| Pacific from points in the far north
west to points in the territory of the
Joint Traffic association. The western
roads are very anxious that the rates
be made, but they are unable to meet
the competition of the Canadian Pacific
unless they have the cooperation of the
lines in the east. The question of abo-
lition of second class rates from eastern
territory was also before the meeting.
STREET CAR SYNDICATE.
CLEVELAND, O., Nov. 1O.-It is def
nitely announced that the immense
international street railway syndicate
recently formed will operate in New
York as we'll as London, Paris 1nd
other European cities. Compressed ait
has been finally decided upon as the
power to be used, that question having
/ been an open one until recently A
number of the directors of the seamless
tube company which will manufacture
the reservoirs for the compressed air
will be in Cleveland in a few days tt
look into the feasibility of building their
immense factory in this city.