Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-11-25
CERTIFICATES AUTHORIZED
Order Of Court Granting Request of Ana
costa Railway Receivers
Trustees Authorized to Sell Property
Without Funds for Expenses.

Judge Cox, in Equity Court No. today,
in the case of Elizabeth X Riley against
the Anacostia and Potomac River Railroad
Company, authorized the receivers of the
road Messrs Henry A. .Griswold and Rem
Jamin S. Minor, to issue and sell receivers
certificates of indebtedness to the extent
OF $l,0OO. These certificates, it is stipu-
lated, shall have priority over all other
claims.
In the same case Judge Cox also signed
an order To-Day permitting Messrs. Charles
=. glover and Charles A. James, trustees,
10 sell all the property, rights and fran
chlses, described in the first decd of trust
on the road, executed to them. The court
directs that the trustees report their pro-
ceedlngs and sale to the court, and hold
the proceeds of the sale to be distributed
under the further order and. decree of the
court.
The foregoing authority granted the re-
celVers to issue certificates was in cOmpli-
ance with a report and petition setting
forth that for the past three weeks the
average daily receipts of the Anacostia
road have SO materially decreased that the
receivers are now virtually without funds
suihclent to pay the employees for the pres
ent week. Estimating the receipts for the
remainder of the week, the receivers eX-
pressed the opinion that they would be
short between $40 and $500 of the amount
SuihSt>ul 10 pay the employees.
1t was explained that since the 1st OF No
Vembef the average daily receipts Of the
road have been S67.O1, and the average
daily expenses about $S1. Continuing, the
receiver stated that the average daily loss
for October was 1896, and for this month
about $14. The operation of the road
could not be kept up they said, unless they
be given authority to issue certificates of
Indebtedness in the sum of $1,000.
Salary and insurance.
In their petition the receivers took occa-
sion to say that since their appointment as
such they have not received anything for
their services. The insurance on the build
ings and property of the company expired
the 18th instant, it is also stated, and it is
the wish now to place insurance to the
amount of about $l2 700 for which 1921. 10
will have to be paid.
The trustees, in their petition, set forth
that default has been made by the railroad
company in the payment of interest upon
It's first mortgage bonds, and that, as trus-
tees. they have been called upon by the
holders of those bonds to proceed to eX-
ecute the trusts reposed in them by the
first mortgage, and to sell all and singular
the real and personal property AMI fran
chises embraced in the deed of trust, upon
the terms and in the manner provided by
the deed of trust.
Plea for Authority.
The trustee added that they were willing
to perform the duties imposed upon them,
and they asked, therefore, that they be per-
mitted by the court to proceed and make
such sale and to bring into court the pro-
ceeds thereof for it's proper distribution
under the order of the court.
The first deed of trust referred to con-
veyed certain lots OF ground, certain roll
ing stock, horses, machinery and certain
franchises and corporate rights belonging
to the railroad company. The deed of trust
was executed to secure 500, 900 OF first
mortgage bonds, dated October 1, 1891 and
payable forty years after date with interest
at = per cent per annaIIn, payable semI-an-
nually.