The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-09

|c Citiz.n's Electric Liaht
Company Of This City.
EuT ON ITS BOMBED DEB1
rcd In the Pleading as the
ID for the appointment u a
kiver-Blalc Dnpree Named.

Rvs that the Citizens Electri,
Inpany had gone into the hands O
er was the all-absorbing topic o
bssip yesterday, the circumstance
rem all the more Importance from
bit action of the city in deciding
Ssh on its own account an electric
ut irrespective Of its present con-
th the Citizens Electric Ligh,
Sequence of this circumstance
S a good deal Of speculation as
luse that led to the appointment
liver for the local company.
rter for The Post called upon MIR.
Baker and was furnished BY
copy of the pleadings upon
1e order of the court was made
Is receiver.
upon bill filed by the Massa-
Loan and Trust company to fore
ZEN as trustee upon cartaia bonds
the Citizens Electric Light
n upon which the Electric Light
4 has defaulted in the payment Of
Since September /, 1896.
edgings are more specifically set
Pc following report from Calves
ION. Texas. January S.-The Citi-
fctric Light and Power company
bn went into the hands of a re-
sterday, Mr.. Blake Dupree being
to take charge of its affairs.
ver is required to file a bond OF
tlthin ten days and is authorized
B control as soon as the said bond
approved by the clerk OF the
ltates district court at Galveston.
|plieation for the reoeivership was
h the Massachusetts Loan and
npany of Boston, a firm that deals
ly in electric light plant securi-
e petition, which was filed with
of the Federal court here to-day,
'mincus one, and sets out in de-
i cause of complaint. First, il
|. that on September i, 1890, the
Electric Light and Power COM
pugh its president, A. +. sharpe,
ecretary and treasurer. Joseph l..
ssued $50 bonds OF $1,000 each,
to the Massachusetts Loan and
npany at the expiration of thirty
he bonds. bore interest at the rate
cent per annum. which was pay
gold at the office of said Trust
on the list of March and Septem-
tch year. At the same time the
Light company executed a mort
veying to the Trust company all
ate, real, personal and mixed OF
nature owned by ii at that time
after to be acquired. y'he real
lsisted of tract OF land on Buff
N, near the Galveston, Housioh
ierson railway, and included the
thereon. The personal property |
all tho material and appliances
he operation, OF the plant.
g Is. 1897. the president and Sec
the electric light company OK
supplementary indonture of trust
rage ratifyinG and confirming dhe
on September !, 1880
'tition alleges that there is a
the mortgage which provides that
,ndant electric light company be-
|inquent in interest for period
laws it shall entitle the said trust
TO apDeal TO The courts
for a receiver. 1hcn default in
mt nf interest is set forth ana the
ecitss that lilo interest coupons
ented to the electric 'ieht COM
/. 1896. and September
nd payment was refused.
egoinS constitutes the principal
hitch receivership is asked. The
trust company prays the court
defendant may. be temporarily
rom selling. transferring or en-
any of the rights or property
Id electric light company rnlil
ar orders of the court; that n
nav be APPOINTED: that the de-
e restrained from interfering
opsratinns of the receiver and
said mortgage bonds issued by
aus be established as first lien.
1licatioh for the receiver came
lSe BRYANT OF the United States
art Yesterday. tIe considered 1t
rs Mt Tyler and issued I'm order
Blake Dnpree rscsiver. lie Is
arge at once uDon the fling and
/ bond in the sum of 100000,
.ed to pay out money fer main
nd operation If the plant. and
yay conduct the business Of tho
The receiver has 10 power 10
oney without the express orders
IT. The Citizens Electric Light
company is cDioined from inter
my manner with the wo.k and
I the receiver.
THE SPECIAL LIQUOR TAI
u in which the Local w. q. /
!.