Kansas City daily journal., 1896-11-28
ANOTHER KANSAS LINE IN THE
HANDS OF THE COURT.
THIS TIME THE ST. l., K. & S.
SAID TO BE AN EXTENSION OF THE
FRISCO SYSTEM
Road Was Built by the People Along
the Right of Wny-JudEe Keel
c='s Statement in the santa
Fe Case-Other Rail-
-aud News.

Topeka, Kas., Nov. 27.-(Special) Upon
applicatjon Of the Farmers Loan and
Trust Company. Of New York. fled in the
United States circuit court to-day by
Charles Blood Smith, OF this city, Judge
Foster appointed Dwight Braman, Of New
York city. as receiver Of the ST. Louis,
Kansas & Southwestern Railway Company.
This company owns a lire running from
Arkansas City to Anthony, distance of
sixty miles. 1t has been operated by the
st. Louis & san Francisco company, ever
Eince it was built until six weeks ago, when
the line was abandoned. The Farmers
Loan and Trust Company holds $4,000 in
bonds Of the company and it claims that
Ct has defaulted in interest.
The receiver Is the man who caused a
Eensation in railway circles by filing a
proceeding a few days ago in St. Louis 10
set aside the sale Of the St Louis & San
Francisco road recently made by the re
eeiVers to the new company.
To Freeze Out BOndhoIders.
In that proceeding he claimed that
conspiracy had been formed by New York
Enanipulators TO freeze out large number
of bondholders and stockholders, and that
zhe sale was irregular. In the action taken
to-day at this point he is simply following
out a plan Of warfare against the reor-
ganized Frisco company.
In his affidavit filed with other papers in
the case, Mr.. Braman said that the An
9hony branch was in reality an extension
of the San Francisco line and is. a part
OF its system; that coincidenuy with the
issue OF the bonds now held by the Farm
ers' Loan and Trust Company as trustee d
lease was executed for the rights, fran
chise and property Of the Anthony branch,
in consideration Of the Frisco agreeing to
pay the interest on the bonds.
Abandoned the Line.
He claimed that this contract was faith
fully kept until October 10, 1856. when the
Frisco company abandoned the operation
OF the line. II was claimed that none OF
the stockholders has any revenue with
which TO run the road and that irrepar-
able damage viii occur to the holders of
1he bonds unless receiver was appointed
and the road placed in operation again.
After reading the bill of complaint and
the affidavit, Judge Foster appointed Mr..
Braman as receiver. He will qualify to-
morrow and take charge of the property
Immediately.
The Anthony branch was built in 'S5
snd bonds were issued by the various
townships and cities through which it
passes IN alQ OF us CONSTRUCTION. Inc
road was voted 5000 in bonds for each
mile.
Gave Stock for Bonds.
In exchange for municipal or township
bonds. the company gave the municipali-
ties stock in the railway company for the
fun amount of the bonds il is to protect
the people now living along the lice who
will have TO pay the township and munich
pal bonds issued that MFR. Braman said
this action was taken.
THE people will have to pay those obli-
cations" said he, ''and they should not be
deprived of the benefits of the operation of
the road. The Frisco company agreed to
operate the line, keep il in repair and pay
the taxes and interest for the revenues de
rived fam its operation. Now the New
York spectators are trying TO repudiate
the contract and / came here TO force them
10 live mp to Il. In a short time l shall
bring action against the Frisco people to
tion Of ;he line under the contract.
Took All the Rolling Stock.
when they abandoned the road they
Sook all Of It's rolling stock; in fact, every
thing that was rot spiked down. Now
vii endcavor to compel them to bring II
back ana also 10 resume the operation of
the line. il fail then I will purchase or
lease new rolling stock and operate the line
as an independent system
Mr. Braman is very bitter aGains+ the
men composing the newly organized Frisco
company. He calls them q set of repudi-
atOrs and declares that with all the talk
about repudlationists in the West there
are none out here TO compare with those
on Wall street. He Is particularly severe
on tine Mercantile Trust COMPANY and J.
Samuel Eastman and =. p. Cheney. who
composed the reorsanization committee.