The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-15
IN A RECEIVERS HANDS
BAER IN CHARGE OF GALVESTON
STREET RAILWAY SYSTEM.
Property Turned Over to Him NV
President Runxe-Cause of EN-
barassment Unknown.

| Galveston, Texas, October 1.-THE prom.
erty OF the Galveston City Railway com
! pany mas been placed in the hands of Ma.
1or r. B. Baer of Houston, as receiver
Yesterday the clerk of the United States
| court here received a telegram from Judge
| Bryant to that effect. Major Baer filed
his bond and qualified this morning. The
| property was turned over to him by Pres
ident Runge, and he is now in fun pos
| session.
| Inc receivership was had on application
| of the Guarantee Trust company of New
York. The grounds upon which suit was
brought ard the receivership secured could
not be ascertained, as Major Baer de-
ciared he was not in possession of the
Information, and President Runge declined
to be interviewed.
II has been known in vague way for
some time that the company was not in
an entirely satisfactory condition, but to
the general public the receivership came
very much in the nature of surprise.
The Galveston Street Railway company
mas one OF the best appointed and most
complete systems of street railway in any
city In the South IT has forty miles OF
track and its service is excellent. About
four years ago the late Colonel w. II.
sinclair, who for many years was the
active head of the company. issued a mill
ION dollars In bonds of the company with
which all of the floating debt was taken
up, new equipment purchased and the
road paced in fine condition.
1t is assumed. in the absence of defin
ito statement from those in position to
make one. and from the fact that the suit
is brought by the Guarantee Trust COM
pany of New York, that tine trouble grew
out OF the matter of interest on the COM
pany's securities
Major r. r. Baer. receiver of the Street
Railway company, came down from Hous-
ton this morning. He at once filed his
bond and qualified as receiver at 10
O'Clock. President julius Itunge took him
pany and turned the property over 10 him.
Major Baer at once issued an order TO en-
p!oyes.
He was seen few minutes later by
Post representative and asked for a state
anent of the condition of the company
7 am not yet IN a position TO make any
statement" said he, further than the
fact that have taFen charge of the prop
GERS of the company at / O'Clock, but
there Will be no statement made.
last Monday wss asked il ] would
accept the. rcceivershin if appointed. /
replied that l would and the Impeachment
was. made.
My adviees are that tire Guarantee
a arnst company OF New York made appli-
OF the United States court al Paris and
my appointment followed"
MAJOR Bacr declined to go into any de-
me me causes leading I'D to his appointment
Inc order OF the court and the other
aeoeninents IN the case have not arrived
from Paris. but the following telegram
ssssnt by Judge Bryant yesterday, serves
me purpcse OF the order until that docu-
ment arrives:
Paris: October Bon the nth instant
! appointed r. b. Baer receiver of tho
naNeston City Railway company c.,d ali |
lis property. with directions for said 70 |
Isnsr 70 take possession of said railways
INES ~ and properties and assume operation
from interfering with said receiver and 10 |
Snnv sag property to him. Give Baer
suit was by the Guarantee Trust com
ee .;ty OF New York against the Galveston
City Railway company.
THIS morning Receiver Baer flied h,s
bona and qualified. His bond is for sio 6on |
l. n. Rich. anu
!, M s,; SON as the property had been for
1l.sSy tusned over to Receiver Baer. the
~ ~bnTr, neree was given out by him:
Snoe q tns Galveston City street Rail '