The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-22
WACO And NORTHWESTERN
"a''road Case involving a Million Of
Dollars Settled at Last.
SoMf COMPROMISE MAY Be REACHED
In the Meantime ws,bnr = po,
en Ten Days to Fay for the
Road He Parchn.ed.

uaiseston, Texas. June 81. -Importan
o'uers promulgated by Judge BRYANT d
the United States district court si,,,nr !,
chambers at Sherman. were received her,
'oaay and filed by Clerk Dart, IN the caae
Oh the Farmers Loan and Trust con,,,,
against the Houston and Texas Cen,ra,
Railroad company
stripped of its legal title this is known
as the Waco and Northwestern ease IN,
receivership Of which has been pendns in
this court for several years.
Inc most important order received toaa ).
directs the purchaser, Wilbur II. pov,s :,
comply with his bid and take the property
oy July l. 1905. The balance OF the nnr.
chase price due is 81. 405 900, which Mr..
Boyle may pay wholly in cash. or partlv in
cash and partly in bouds and coupons
"hen this case was before Judge Bryant
last November he entered an order finding
the sum OF Sl5se,255 applicable to be dis
triputed among the holders of outstanding
pohus. OF which there are 1924 of tha face
Vaiue OF $1,000 each. The distrihutiye share
Oh each bond was fixed by him at $i55S, as
there is interest due on them since 1856.
FROM this order Mr.. Boyle and Coils |,
Huntington took an appeal to the United
states circuit court of appeals at New
orleans. Judge Bryant had also fixed ,ha
t,ine at which the purchaser should take
tne property 10 be at noon on December
10, 1885,. the higher court, after a careful
Aearlhg, amended the order of Judge Bry-
ant in a very material manner. 1t changed
the date at which the purchaser sbonIa
comply with his bid and take the property
from december ID to July |, and increased
the amount to be distributed among the
bondhoders by S214,62S, making the total
amount applicable for such purpose 81. $40
500. This also increased the value of each
bond to sl76S.
1t is understood Boyle aud Huntington
own majority of the outstanding bonds
ana the purchase price on July will no
doubt be largely made with them.
Another order received In the same case
has ludcrous side to it and shows that
even attorneys overlook point some times
Alfred Abel the master commissioner aud
receiver of the Waco Northwestern. draws
salary of $500 year for his services
BY an order made November TO- 1897. IL
was stated that his salary should be con
y,
until the purchase complies with his bid
which, in this instance would be July /
BY a subsequent order made only two
days later, IT was stated that the receiver
should continue to be paid until all &C.
counts are approved and he is formally
DISCHARGED. The chances are he would not
be discharged for several months after the
sale. and the conflict in the two orders
would thus mean several hundred dollars
to Mr. Abeel BUT the matter is now
corrected and his salary will stop on July /.
Waco. Texas, June 21.--T. w Camp
bell. attorney for the minority bondholders
of the Waco and Northwestern railroad
went to Sherman last night to meet Colonel
Lovett, attorney for the Huntington In
terests. and it is believed they are arrang-
ing for settlement Of the Waco and
Northwestern sale. as 1t is understood that
Lnvette is representing Wilbur r Boyle of
st. Louis, the purchaser of the road at
commissioners sale some years ago. Boyle
was ordered by the court to comply with
1. Il. 4. - I..I