Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1897-12-23

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- States court at this place, ige
Thomas presiding, the final pre- ed
ings were taken which wiped OF
existence the Atlantic & Pacific il
road company and vested in IL st.
Louis & San Francisco Railroad ~
pany the legal and absolute tit to
the line of road running from Sc "a,
Mo-, to Salpulpa, l. T., built by I'd
heretofore known as the Atlantic I'd
Pacific, Central division. A few mo IS
ago, L. F. Parker, Jr., Of Vinita, ,
ciated with Butler hoffman, Joli 4
Mynderse, OF New York, represe :
tives Of the Central Trust compar
New York, which was trustee for
holders Of first mortgage bonds OF
Atlantic & Pacific railroad, filed a
in the United States court here ~.
ting up the default Of the railroad in
the payment Of the interest and prin-
cipal of the bonds, which at that time
aggregated S4,5O0, 900, and asked that
the mortgage be foreclosed to satisfy
the Indebtedness. The Atlantic &
Pacific railroad, by n. B. Maxey, an
swercd, as did the American Loan &
Trust company Of Boston, represented
by Z. p. Howe, of Boston, which
claimed an interest TO the extent OF
81 800, 900 as trustee of the second
mortgage bondholders. There was a
partial hearing, but most OF the evil
dence being in New York, Judge Rob-
ert L. Mcclure was, on October Is,
1897, appointed special master to take
the proofs in the case. He proceeded
to St. Louis and New York, and on
his return made report showing that
the A. s. p had been in default fol
yeras and recommended that the road
be sold to pay its debts. On Novem
Der 13 Judge Thomas heard the proc
and confirmed the special master:
report, and in his decree fixed the date
of sale December IS, place at the pas
senger station in Vinita, and appoint
ed Hon. Monroe c. Crawford, of Hi
nois, as special master to make tn,
sale. The sale was extensively adver
tised, and at one O'Clock Saturda.
Judge Crawford proceeded to the depo
to strike off the property to the high
est bidder. There were present Ed
ward c. Henderson, Of New York
general counsel of the Frisco; Z. B
Strauss, manager Of the banking firm
of Seligman, New York; II. c. Law
renee, capitalist Alexander Douglas
general auditor; L. +. Parker
general solicitor, and P. L. Soper
attorney in the Indian Territcr,
for the Frisco system, and n. b
Maxey, representing the Allan
tic & Pacific railway, and Others. MI
Henderson, for himself nominally, bu
for the Frisco railway actually, BIZ
g., $50, 600, and Judge Crawford pro
nounced the property sold and upol
payment OF the money by certifie'
check, executed his deed TO Mr.. Hen
derson. Judge Crawford then made ;
report as special master, which wa
submitted to Judge Thomas in opel
court, who confirmed the sale and ap
proved the deed of conveyance. Mr.
Henderson then executed deed o
conveyance Of the railroad TO tn
Frisco company. The amount sueC
for being 81, SOC, 900, and the sale real
izing only 50, $50, 900, the Central Trus
company secured deficiency judg
ment for 81, go, 900, showing that tha
amount is still due, and, as the prop
erty is gone, is lest by the holders o
stock in the Atlantic & Pacific rail
road. Thus ends the biggest suit eve
filed In this territory, and it is Il
hoped the Frisco in assuming contro
will enthuse new life into this brancl
of the system, extend it and make i
the trunk liue for this southwestern
territory.