Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-01-03
A Big Case to Be Heard in Norfolk
Next Week.
Special Commissioners Bowdcn TO
Henri Something About the A fairs
OF" Remarkable. Though Dcfunc.
Corporation.
Especial to virginian-pilot.)

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Newrort News. Va, Jan. 2.-When
the report of the receivers in the case
Of the Atlantic Transportation Com
pany comes up before Special Commits
sioner Bowden in Norfolk on the 18th
inst, 1t is probable that there will be
! developments that will still further
complicate the already almost inextri-
cably tangled affairs of that remark
able, though now defunct, corporation.
| The issue, it is competently said,
will be one that has never before
arisen in this case Briefly, it will be
fight on the part of the general cred
itors, headed by the Western National
Bank, OF New York, which will prob
ably amount to an effort to secure the
forfeit of the $4,000 bond Of the re-
cevers. N1essrs. ingalls, and Meany.
When the INnickerbockcr Steam
Towage Company precipitated the crl-
sis in the affairs of the company by
suing out an attachment, the Chesa-
peake & Ohio, which, as is we'll known,
had a carriage arrangement with the
company, seeing that the Zig was up
applied for receivers for the Atlantic
Transportation Company, securing the
appointment of ingalls, and Mcany,
who, in that capacity, had the man
agcment of the affairs of the defunct
company in their hands for q period
of between five and six months.
In that time, it is stated on good
authority, and the receivers report will
doubtless show 1t, the company was
operated at a loss of $15S.o0O, over and
above all-that is to say, the expenses
of operating under the receyership in
that time ran s15S.00O over the re-
ceipts.
1t will be claimed by the general cred
itors that the Coastwise Steamship
Company, which took up the trade up
on the death of the Atlantic Transpor-
tation Company. making, 1t will be
claimed, certain carrying contracts
with the Chesapeake and Ohio, was
made a sort of clearing house for the
business, paying bills and receipting for
moneys.
This company will claim, then. that
this Indebtedness of $15S,0GO, is as a pri-
mary lien by reason of it's being re.
ceivers expenses.
The general creditors, however, head
ed by the Western National Bank. will
claim when the receivers report comes
mp before Special Commissioner Bow
Qen 1Or consideration on the lStn IN
slant, that the receivers acted in con-
cert with the Chesapeake and Ohio, and
that the Coastwise Steamship Company
was simply an arm of the Chesapeake
and Ohio, and that, although the exist
ing contract at the time the Chesa-
peake and Ohio asked for q receiver
ship, coupled, perhaps, with misfor-
tunes by reasons of storms. and so
forth. made the receivership necessary.
still the receivers, meaning ingalls, and
Meany. Immediately, according to the
claim. upon their appointment, entered
into contract with this arm of the
Chesapeake and Ohio to carry coal for
about one-half of the rate that the
Chesa peake and Ohio had formerly paid
the Atlantic Transportation Company,
which claim If substantiatcd, would. in
the minds of the claimants, sufficient
ly explain the loss OF the $15S.000.
These general creditors will claim
that 1t would be unfair to give this