The evening times., 1896-11-19
DESIRES NO EXPERIMENTS
Attorney WorthingtOn for the Plain
tiffS in the Belt Line Case.
CHARGES GROSS DE CEIPT
The Motion for Receivershtp Was
Not an Honest One, He Contends.
But Was Engineered by the FL
Neutrality-suspicious. Syndicate.
How the Air, Motor Was Rung In.

"The question, as understand it," said
Mr.. A $. WorthinEton this morning In the
discussion of the lexington ana Belt Line
controversy before Judge Cox, lis whether
the court shall make any order for an ex-
pertinent of air motors on either road or
both Of them
Mr.. WorLiIington explained the trans
actions OF the klkins- -Widener-Doian syndi-
cate in coming TO Washington and buying
up the ma jority OF stock or the Eeit
Line which WAS then only rated at 40 cents
on the dollar.
at was not the purpose OF these pur
cha sers to elevate the Belt Line. Ever since
il went into their ands it has been FALLING
behind. II went down from the time those
people paid 10 cents asharefcr stock worth
40. Did they take it in their own name?
No, they took it i'll te name OF a company,
The Construction Company, which later
transfers the stock to the Central Trust
Company, which afterward transfers 1t to
the Columbia and Maryland.
'.Then the constr uction company enters
into n contract with the Columbia company
company and the latter company votes
the stock. Thus you can see how these
o,0O3 shares of the Belt line have been
switched around and manipulated. To
prevent any immediate action on the part
OF the bondholders, these people paid the
interest OUT of their own pocket.
THE FREEZING OUT.
''But later in the history of these fraudu-
lent transactions We come down to what
is known as the process OF freezing out"
The freezing out of bondholders and stock
holders. .-
They filed their bill and went to this
man .iment and got him 10 file a hill and
later ask for a receiver. They came here
with their attorney, not with their regu-
lar attorney, but with Mr.. Clephane. This
crowd praciiced fraud on this court, and
a deception, leading your honor to believe
it a bona fide bill for receiver
Mir. WOrShingtnn continued to charge
deceit aud fraud on the part OF the Elkins,
Widencr and Dolan people.
I!ry GtalSIaCG -t.uu ,Hc court by urE-
Ing that theaC5 of Congress demanded some
action for equipment of air motors, and had
the court appoint d. NJ. Newbold, re-
ceiver, another one of the same com pany,
and it further practic-d DECEIT in the ,ies'li-
nation of MT Newbold and in the later ap-
pontmentuf Mr.. Schoepf. Why, at the time
Of TIE filing Of tn. bills for receiver. even
the answer was all ready, and we knew
n1thiny Whatever about IT
PARTIAL DONE MOTOR.
Nov, let us !uok at the other deception.
We have the Receiver coming here in his
report, and, though presumed to be Impair
tal and to act fer all OF US, he acts In
iihol Di al iilbtbI. AZ iildl time lie
knew IL was a fact that the same com hina-
ton which got this man to file bill also
had its own air motor. which this man
SChoepf, once vice president and now
ceiTer. tried to fUist upon the court and
upon us.
He kept back from the court that the
motor was controlled by his people. He kept
tnat back from the court, and deceived you
as to his real intention of operating its own
motor ON lis own road This deception, l
submit with other facts, should operate
at the proper time in the appointment later
of Il receiver wholly disinterested and i'm
partial
Mir. orjhington explained that stock
holders were Liable for all amounts to the
extent of the amount OF stock held by
them, but there W as danger that the stock
holders would never he reached because
of this continual changing Of stock from
one company tS al other, from hand to
hand, unia they finally put the last COM
pdny Controlling 1t into the hands OF a
receiver The last company mentioned
was the Maryland company, which went
into the~receivcr's hands Just before the
lexington and Belt lines.
SHOULD BE A SALE
Nov. | submit that there shall be d
sale. The plaintiff asks for sale In a
till prepared by these people themselves;
now. let them have a sale. We will not
object to having its affairs wound up, and
II these people want To manipulate the road,
aud experiment with their owa motor. let
them do so at their own expense
The bondhOlders insist that If the tudg-
menJ creditor. Ament, wants to get his
money, it should be by a sale, as asked by
him, or let him withdraw his suit, and allow
US to go hack to where We were, because
the bondholders will not consent to the
road being run another day at their ex-
pense, or do they want it in the hands Of
and has not our interests in view"
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