Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1896-12-02
stil, AFTER a Receiversh.p.

The Pennsylvania Traction Com
peny with heedq asr:ers in Lancaster
has recently been greatly in evidence
before Judge Dallas N tho United
States Court in Philadelphia for the
appointment OF receiver. It Is &
concern in which J uniata county peo-
pie are interested to the extent ot
many thousand dollars, and good
deal of the money put into it was
borrowed upon the roseae assuranc
that it would soon provo to be a prot
liable cor cerp fog all investors. So
far it has been dslusive phantom,
NOW raising them upon the tip toe of
expectancy, now dropping them into
the depths of dependency, till at
last they have been led to the brink
0; 5caiiz ltioa that the profits are
ike the base,ess fabrics OF dreBm,
and that the solid facts looking them
in the face tells them, that if they
can ges out what they put into the
concern they viii be doing very weil.
The suits in the U1itsd Stases
Cocrt, knocks the cir castle higher
than a kite
The concern Is in such n shape
that the United States Court has
been called upon TO appoint someone
to take charge of the road AMI man
age it or settle or -sorganizs it to the
satisfaction Of complainants Rceb-
ling's Sors under the claim of over
uwenty-six thousand d1llars FIRST ask
ed the said court 10 appoint re-
ceivcr, because they said the COR
pany had defaulted il The payment
of interest, and because Of tho mis-
application Of bonds, &c.
Two days later the concern was
again before the court on an applic1-
ton of Geo. 4. Lee, representing tho
Patterson management. praying for
the appointment of receiver. Tne
Lee party claim that they have the
most paper against the concern.
They plead that they represent about
80 per cent. of the bonds-Ihe
amount OF tie stock is not stated.
They represent that the Roebiing.s
Sons interest is small compared t,
their interest, and therefore the re
Ownership should be handed down 10
the Lee combine. The Lee syndi-
cate claim bond holding interest OF
over seven hundred thousand dollars
T.vo days after the Lee plea for
the appointment Of q receiver again
came Roebling's Sons with an adj
ticral plea of bond holders, represent
ing over nine thousand dollars, ask
ing for leave TO file an amendment 10
their former bill or suit for rec-iy-
er. The judge refused their applica
ton for the fling of an asoendme,'t
to their former action ard that III ed
them out on that line of sction.
The Lee application, Judge alas
holds under advisement till this week
His opinion is looked for every day
The interest of the Juniata people
seems to be tied up with the Lee
movement, ard it is earnestly hoped
that onr people may be far enough
front with the papers they hold in the
concern that in "the grand round up"
as tie COW boys say, which seems
soon TO take place, they may come N
securely with the first obligaticns,
branded number ore. How unfortu
nate it would be il their traction pa
per should come in the grand wind
up with two or three brands ahead CT
their. Il would be burning, bis
tering shame if for our peoples mon
ey, they had been given wat=red
bonds and stock SO far behind in the
issue Of paper that in the rsorganiza
ton that now seems inevitable, they
will be SO far out with their holdings
as to come in among the losers. Just
how the Lee combine will reorgauizo
the company if they get the receiver
sbip, does not appear upon the face
of the revealed state of affairs.
Nothing now is clearly in sight. x
cepting that both parties are asking
for, namely, receiver, 10 save some
thing for someone frcm the wreck
that has overtaken the concern. Who
will come out of the wrecked ccncern
financially whole with pocketful OF
money feeced from the lambs that
basked in the hopeful sunshine Of ex-
pectaney the future vii! tell. Ihe
day was when bank cashiers and oth.
er bank officers could with bold and
audacious front take money from con
fding patrons f5r safe keeping on de
post, when they knew their banking
concern could never return the mon
ey, bat that day has passed. Peni.
ten;ia'y doors stand invitinSly open
for bank officers who do such tricks,
and the day is dangerously near, II
not Immediately present, when men
VINO baDk on n railroad plant to over
issue or water bonds and stock to
confding people for the selfish pur-
pose of enriching themselves, will be
sent to prison as common criminals
and confidence men.
Since the above was put IN type
the corrt appointed q receiver: On
Monday, November 30th court ap
pointed William Given of Columbia
receiver. Nr. Given was Chairman
of TIE Pennsylvania Jeffersoniau dem
ocrscy during the late Presidentie
campaign.s