The Washington times., 1901-10-05
SECOND BILL FOR RECEIVER
Syndicate Interests Declare City
and Suburban Inselvent.
Base Their Claim on Judgment mt
Law for s225,OOo, Granted This
week-Another Petition Filed Re
Gently for Minority Stockholders.

The interests back of the syndicate
street railways of the city have taken
another step toward their plan of
organization. In the Supreme Court of
the District yesterday the United States
Mortgage and Trust Company, the United
States Electric Lighting Company, the
Anacostia and Potomac River Railroad
Company, and the Columbia Railway
Company Jointly filed a judgment credi-
tors bill against the City and Suburban
Railroad Company Of Washington, ask
ing for the appointment Of a receiver TO
take charge Of the assets OF the defendant
and operate the road in the interests Of
all concerned and also for an injunction to
restrain anyone from interfering with the
receiver in the conduct of the road. The
cornplainants are represented by McKen-
ney e Flannery az counsel. 1t is eX-
planned In the petition that the City and
Suburban Railroad is jud%ment creditor
of the petitioners to the an ount of about
S224, $50 and that execution has been is
sued and the marshal has returned the
wrItS "nulla bona"
The bill states that the City and Subur-
ban Railroad operates lines Of its road in
the District of Columbia and Maryland
and is one of the most useful means or
communication between the District and
Maryland. and that it owns valuable
franchises. 1t is further stated that in
recent years the company has been un-
able to make its operating expenses and
pay the interest upon its bonded debt.
According to its last report to Congress
1t Is alleged that the road showed de-
felt Of more than So. 900 in its operating
expenses and fixed charges 1t is also
set forth that the interest the bonded
debt has heretofore been paid, but in
addition to the bonded debt the road has
accumulated a floating debt of more than
Sl93, ,229. y.
AT various times since May, 1900, 1t is
stated the road, being financially en-
barraSsed. applied to the cOmplainantS-
the United States Mortgage and Trust
Company, the United States Electric
Lighting Company, the Anacostia and
Potomac River Railroad Company, and
the Columbia Railway Company-for
loans aggregating about S224. 500 The
loans were made and were secured, it is
stated by the prOmissOry notes OF the
City and Suburban Railroad Company
1t Is stated that these notes became
overdue and the holders-the companies
named above-filed suit on the law side
of the Supreme Court of the District To
recover the face value. with interest and
costs. 1t is explained that judgIat is
were secured this week against the city
and Suburban Railroad Company fOr the
amounts due, with interest and costs. and
that when the marshal issued writs Of
execution they were returned nulla bona.
The bill then refers to the fact that as
all the property OF the railway, both with
in and outside of the District Is covered
by a mortgage or deed of trust. conveying
it to the Baltimore Trust and Guarantee
Company, as trustee for its bonds, there
is no property subject to execution in law
The charge Is made that the company Is
insolVent. and that 1t Is essential TO the