Evening star., 1896-09-21
IN RECEIVERS HANDS
The lexington Railroad Gets Into
Court Today.
Mr.. SCHOEPF TO TAKE CHARGE
The Road Losing Money, Accord
ing to CompIainants.
PROSPECT FOR RAPID TRANSIT

Matthias Ament Of Baltimore. Nd, trad
ing NJ Ament & Co., sued the Ecking-
ton and Soldiers Home and the Belt Line
Railway companies Saturday for S63998
and s641.33. respectively and judgment was
rendered in each case. Thereupon, writs of
execution were issued and placed in the
hands of the marshal for execution. Later
in the day the writs were returned nuila
bona, and still later in the day bills in
equity were filed by Attorney Walter C.
Clephane, on behalf of Mr.. Ament against
each company and others, praying that
they be placed in the hands of a receiver or
receivers. Mr.. w. Stuart Symington, vice
president of the two companies, immediate
ly filed an answer to each suit admitting
the allegations in each bill of complaint to
be true, and consenting to the relief there
in prayed.
Without Funds.
The bills of complaint practically
identical, stating that neither company has
property here subject to execution at law.
but explaining that each is the owner of
equitable interests in certain real and per-
sonal property, which, if properly pre-
served and managed, will be sufficient to
pay the two judgments. Said property is
described at length. as well as the trusts
thereon, and then the complainant AYERS
tkat for long time both roads have been
operated at daily loss, the income of
neither being sufficient to meet either fixed
charges or daily current expenses.
The act of Congress of the 10th of last
June Is referred to in which the roads are
required to equip their lines with COM
pressed air motors within a specified time.
The process Of said equipment has been
commenced, says the complainant having
progressed to point where the cars are
nearly ready to be placed in operation. TO
provide the means for completing said
equipment, explains the complainant, it is
imperative that some method be resorted to
for providing said means, should the pro-
posed equipment prove satisfactory upon a
test thereof and he is Informed and be-
leVeS that an exceedingly favorable ar
rangenlent has been made between the two
ormpanieS and responsible firm whereby
provision has been made for the equipment
OF the two roads and a thorough test of the
system without charge therefor unless the
test should be successful, and that If rea-
sonable assurance can be given said firm
Of the success of the test, the cars can be
put in operation within a very short time.
If successful, further says the complain
ant. the proposed system will be about one
half as expensive as the horsepower sys-
TEN, and will provide rapid transit, which
will attract. he says. the public patronage
and produce sufficient revenue to afford
means not only to operate the roads, but
also to pay all their Indebtedness.
To Take Possession.
Both roads, says Mr.. Ament. who is q
dealer in grain and hay, are without means
to carry on the operation of the roads, and
| there is especially pressing need for funds
| to provide food for the horses belonging tc
| them and pay ether current expenses. H.
! also refers to the suits instituted by tn,
District Commissioners Saturday to re
| cover from the two roads penalties for al
| legged failure to comply with the act O
| Congress above mentioned.
| Therefore he asks the court to appoint a
! receiver for each road, with such powers
| and authority as the court may deem best
| and especially with authority to preserve
| and operate the roads, and also procure
| the speedy equipment of their lines with
the aforesaid air motors, otherwise, as
| the court may direct; that the receivers be
| authorized to issue and negotiate for pur
| poses approved by the court receivers GER
| tificates to such amount as tie court may
| direct that at the final hearing of the
| cases, and at such time as to the cour
| may seem right the property of the two
| roads may be sold, either free from tn,
| liens of the deeds of trust subject there
| 10, by such receiver or by trustees to b'
| appointed by the court; that all persons b'
| enjoiEed from interfering with the posses
| sion OF the receiver or receivers, and tina
| they may be required to deliver up to hin
| or them all the property of every mature
belonging to the said companies.
Appointed Receiver.
Judge Cox today signed an order appoint
ing Mr.. David MSNewbold receiver pend
| ente lite for each road. Mr.. Newbold, a
| receiver, is authorized to take possession
| Of all the property of every nature belong
ing to the two roads, to manage, contr,,
and dispose of the same, under the orde
| and direction of the court, and until it
| further order. Both roads and all person
| claiming under them are ordered forthwith
| 20 deliver possession to the receiver Of al
| the said property, and all persons are en-
| Joined from interfering with the receiver
possession of the same. The bond Of MI
| Newbold, as receiver, is fixed in each cas-
| at $1,000.
! Mr.. SchOepf Appointed.
| This afternoon the court was duly in
formed that Mr.. Newbold had declined tn
appointment as receiver for the two com
panies, whereupon Judge Cox appointe,
Mr.. w. Kesley Schoepf. formerly manage
of he two roads. as the receiver for them
fixing his bond at $4,000 in each case an
giving him the same authority and pOwe
granted to Mr.. Newbold. The receiver o
any party to the two suits were granite
leave by the court to apply to 1t for an en-
largement or modification of the powers O
| the receiver or instructions to him the