Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-24

parties defendant and required TO an
swer-
o. What amount OF interest is past due
and unpaid on the bonds, 253 to 21, inclu-
siyc, and 20l.
CD What amount Of interest is past due
and unpaid on the entire issue OF first
mortgage bonds.
CD What amounts and for what months
are past due and unpaid to holders OF Ia
Dor and supply claims.
He prays that q receiver may be ap-
pointed to take charge Of all the assets
and property Of the Farmville and Pow
hatan. and operate the same under direcr
ton Of the Court, and that an injunction
be awarded restraining all officers and
employees Of said railroad company from
interfering with the possession and con-
troll OF the receiver.
FOR LABOR AND SUPPLIES.
The petition Of ca j. Snyder is much
shorter. He files the bill for himself and
others on the following grounds:
Cd That the railroad is indebted 70 him
in the sum Of 1926 for services rendered;
" That the railroad is hopelessly in
solvent. and that a large amount IS due
for labor and supply liens;
CD That the interest on the first mort
gage of $4,000, Of which the Central
Trust Company of New York is trustee.
is unpaid;
% That the interest on the second
mortgage of $4,000, Of which Mason
Young and w. S. Archer are trustees, Is
also unpaid.
The petitioner asks that the Farmville
and Powhatan Railroad Company win
the first and second mortgagors, be made
parties to the suit.
The motion was continued untn the iur-
Their order OF the Court.
Mr. 6. S. T.. Patteson is counsel for the
petitioner
BONDHOLDERS APPROVE.
A meeting of the bondholders Of the
road was held in this city yesterday.
The meeting was private, but II Is uh-
derstood that it was practically the
unanimous sense that the movement 10
secure a receiver should be prosecuted.
II is believed that with slight excep-
ton all the bonds Of tho company are
held I'm Richmond. They are about evenly
distributed among the Richmond banks.
Although the interests OF the bond
holders and the lienholders are IN the
main. Numerically opposed, there VIII
be no fight between those OF the rormer'
represented by Mr.. Archer ana the Hen
holders. represented by Mr.. Patteson.
Late last night it was stated, authori-
tatively. that the railroad company
would not oppose the application for
receiver. This makes 1t practically GER
tain that one Will be appointed. The
company is understood to desire the ap-
pointment Of Colonel T. 81. II. TalcOtt,
assistant to the president Of the Sea-
board Airline, to the position Of re-
ceiver. Some Of the bondhoiders desire
that the Virginia Trust Company OF this
city. be made receiver. There is no doubt
that Colonel Talcott or the Trust Com
pany will be selected by Judge Lamb.
Besides unpaid interest on tho mortgage
bonds. and money for supplies FUR
nished, the company also owes en-
ployees considerable sums. the claims
for supplies and labor are prior TO All
others.
THE ROAD DOING BETTER.
Tho Farrnville and POWhatan has not
been specially prosperous Of late years,
though this year its operating expenses
have been less than last by several hum
dred dollars. and its receipts consider
ably greater IL was stated by one OF
the bondholders last night that IN his
opinion the road would eventually pay
all claims against IL.
'sThe creditors are killing the goose
that lays tho golden egg" said one OF
the railroads officials yesterday. 1T Is
my firm belief that If they would just
keep hands of, in year or two they
would get all that's due them The bond
holders would soon find that their invest
ments were good ones.
The Farmville and POwhatan extends
from Bermuda Hundred 10 Farmyilie,
distance Of eighty-nine miles. IL is a
narrow-gauge road. IL runs through a
very rich timber district, and does
large lumber traffic. Much tan. bark Is
also hauled, and it does heavy coal
business. The road runs to the Winter
peck coaI-mines. in Chesterfield county.
A new mine has Just been opened there,
and II was stated last night that BY the
first of the year II would be shipping a
very large quantity OF coal. This viii
all be hauled by the Farmville and Pow
hatan.
1t is not thought at all likely that sale
Of the road will be ordered in the near
future. though a sale nBy eventually be
ordered. The charter OF the road Is one
OF the most valuable OF any owned in
Virginia. IL allows the construction OF
a line from Farmyille TO bermuda Hun
dred. and also allows the building OF a
lateral road nifty miles in length. This
was the last charter with such liberal
provisions ever granted by the State.