New-York tribune., 1900-04-28
RECEITER FOR A RAILROAD.
HENRY w. GAYS APPOINTED FOR THE
NETWORK AND OTTAWA

Judge Lacombe of the United States Circuit
Court, the application of Alanson 7. Enos. of
Englewood n. j., yesterday appointed Henry w
Gays, of No, 27 Pinest., this city, receiver Of the
New-York and ottawa Railroad. Mr. Gays filed
bond of $4,000 as receiver.
Mr.. Enos's complaint sets forth that the New
York and ottawa Railroad Company operates a
steam railroad extending from Tupper Lake, in
Franklin County, MORA in the same county, to
the shore of the St Lawrence River, near the boun-
dary o St Lawrence County, and in Canada ex-
tends from Ottawa Cornwall Ont, on the
north shore of the st. Lawrence River. The COM
pany 1t is stated owns the international Bridge
now process of construction from the south ter
minus of the line to the international boundary
line in the southery channel of the st. Lawrence
River 1t also owns the Cornwall Bridge Company,
a New-Jersey corporation. The complaint further
states that the company owns the entlre issue OF
first and second mortgage bonds of its railway sec
tion the bridge property appurtenances. etc; that
u mortgage the property is held by the state
Trust Company, of New-York, TO secure an out
standing issue of SLIPS 600 worth of per cent
twenty wear bonds and second mortgage held by
the State Trust Company to secure S692OVO OF IN
come fifteen year bonds. and that both these mort
cages were given and filed November !, 1891 1t Is
declared that no interest has been paid on the
second mortgage and that the company has failed
TO nav the interest on the first mortgage since May
l, 1899.
The company, it is alleged. is a debtor TO the
complainant in the amount of $,3S 81 he having OBJ
tanned Judgment in the City Court April "a last,
and il is charged that payment has been demanded
and refused, and the judgment now remains unpaid
1t is also set forth that, owing to the failure or
the railway company and the Cornwall Bridge
Company to finish the construction of a bridge
across the St Lawrence River November 10. 1888,
their operating expenses have exceeded the revenue
and that the floating and unsecured debt has ac-
cumulated and this debt the railroad is unable to
pay.
Mr. GAYS has president and general man
ager of the road for time. The other officers
are: Chairman of the Board of Directors, George
Foster Peabody; vice-president George Barclay
Moffat; secretary, Louis c. Myers; treasurer,
Acosta Nichols; general counsel, r. Burnham Mof-
fat. The Board of Directors is as follows: George
Foster Peabody George B Moffat, Henry Sanger
Snow Spencer Trask, Alexander NJ. White. jr.,
Henry W. Gays, r. Burnham Moffat and Charles
w. Peabody.
Sc 100000 The bridge the St Lawrence. con-
Meeting the United States and Canadian sections OF
the road cola psed in November 1898, when nearly.
ready to be opened for traffic and the structure
designed to replace it has not yet been completed.
The plans of the company have embraced also the
extension o the Adirondack Railroad by the build
ing of forty of line from the present terminus
al North Creek n. Y. to Tupper Lake, thus max
ing a new through line. which would be hfty-slX
miles shorter than any existing route between New
York and Ottawa but this project abandoned,
the courts having decided adversely to II. 1t IS
understood that the appointment of a receiver was
the result friendly litigation, and that the COM
pany will soon be reorganized by the bondhoders.