Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-02-12
Money Due Them is to Be Guar
anteed.
COMPANY And EMPLOYEES AGREE
To Be Submitted to the House
District Committee.
THE LEXINGTON ROAD BILL

A delegation of attorneys and railroad
men called on Chairman Babccck of the
House District committee to lay before him
the agreement by which the wages CT the
employees of the Belt railway are TO be
guaranteed before the Belt line and Eek
irgton consolidation bill shall be reported
by the District committee. to whom the
agreement is to re submitted.
Those who called upon Mr.. Rabcock were
Mr.. P. ]. Ryan, attorney for the employees;
Mr. A. B. Browne, attorney for the Belt
Line bondholders; Mr.. Crosby of the Eek
ington line and Mr.. Johnston.
Mr.. Browne read the agreement to Chair
man Babcock. and Mr.. Ryan concurred in
1t. The agreement follows:
The Agreement.
First. That the employees of said re-
ceiver or the said Belt Railway Company
shall cease all opposition to the passage
of the legislation aforesaid, and will as
far possible aid and secure the passage
of the same, and
Second. Upon the passage ST the said
act of Congress and said amendment. and
upon the approval of said act as so amend
ed by the President of the United States,
then the said American Security and Trust
Company, such trustee, will instantly
consent to the issue Of receivers certif1-
Gates in said cause by proper order of the
court (having precedence over the bonds
OF said railway company having jurisdic-
ton thereof covering the sums now sew
orally due the said employees of the said
receiver and the said railway company to
an amount not exceeding in the aggregate
the sum of $500, and said American Sc
curity and Trust Company will, upon the
issue of such receivers certificates immedi-
ately cash the same to the holders thereof.
But in the event that for any cause the
issue of such receivers certificates cannot
-.
curity and Trust Company further agrees
to ask the proper court to order that from
the proceeds of the sale of said property
and franchises, payment be made to each
of said employees, their assigns, of the
amount certified by the said receiver to BE-
row so due each of said employees for ser
vices rendered to said receiver, and for de-
posts made, but not exceeding in the ag-
gregate the said sum of $500, out of the
moneys received by said trust company, as
such trustee, from the proceeds of such
sale, and to thereupon pay the same With
in five days from the ratification of said
sale.
I'm the event that the said American Sc
cUrity and Trust Company cannot obtain
the issue of such receivers certificates or
the order of the court for payment Of said
employees claims from the proceeds Of the
sale of said railway property, then from
the proceeds of a certified check for 5000
this day deposited with r. Ross Perry
esq, the said Perry is hereby authorized to
Ct-SH tNt Silu CH-Ch, anu " pay Tic sdiu
claims upon the signature of said bill,
amended, by the president to said claim
ants. or their duly authorized agent.
THE said employees shall have and exer-
else the right to prosecute their pending
appeal in the Court of Appeals OF the Dis
trict of Columbia without reference to this
agreemenD and without waiver of any
rights whatsoever in respect to such ap-
peal by virtue hereof, but with the under
standing that they will, in any event, aid as
far possible in securing the passage by
Congress and the signature by the Presi-
dent of the aforesaid bill and amendment"
The agreement was signed by G. J. Bell
president for the American Security and
Trust Company, trustee of the Belt Rail-
way Company, bondholders under deed of
trust dated January 81, 1891, and by p. j.
proved by Andrew D. Best, John w.
Hayes, general secretary treasurer, men,
bers of G. E. B., X. of l..
An Amendment Proposed. -
Mr.. Browne then submitted the following
amendment, to proposed to the Ecking
ton consolidation bill section 6:
THAT the purchaser or purchasers of the
property franchises of the said Belt Rail-
way Company at any sale thereof under de-
cree of court, or otherwise. and the assigns
of such purchaser or purchasers. shall pos
sess and enjoy all the corporate rights,
privileges and franchises heretofore
pany as well as the right to be corpora
ton under this act. And any corporation
so created and organized under the pro-
visions of this section is hereby authorized
to issue it's bonds and capital stock, either
for cash, in exchange for the stock,
bonds property or franchises of said Belt
Railway Company; provided, however, that
the total issue of said bonds and stock
shall not in the aggregate exceed the
amount necessary for effecting any such
purchase, and for the construction, recon-
struction and equipment of said Belt rail-
way. And within one year from the ratifi-
cation by the court of such foreclosure sale
the said corporation operating under this
section shall construct and put into full
operation on its entire line the underground
electric system.
Protest Against the Bill.
Mr. Daish also called upon Chairman
Babcock to protest against the bill in its
present form. He said it relieves the pro-
posed new railway corporation of all per-
sonal responsibility. One of the corpora
tons to be merged by this bill owes him
$50 600 and he desired his legal rights pro-
tected.
Mr.. Babcock replied that the committee
could not become a collection agency for
the general creditors of the old corporation.
Business men were supposed to be able to
take care of themselves. 1t was different in
the case of the employees of the road They
were labortng men, working for their daily
wages and not able to watch their interests
in legal affairs, SO the committee had taken
1t upon themselves to look out for them.
However. If Mr.. Daish claimed that the bill
in its new shape relieved the railroad of
personal liability, the committee would
listen to representations upon that score
Mr.. Dashs attorney will submit brief
setting forth arguments in support of the
allegation presented this morning
Chairman Babcock will call a meeting of