New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-27
KANAWHA DEAL BLOCKED.
RECETVER ASKED FOR.
Chicago Shareholder Says Gould
Ramsey Fight Hurts Com panY.

Cincinnati, Sept. 26-Applicaticn for the ap-
pontmeut Of a receiver for the Little Kauawha
Syndicate, organization controlling coal lands
and railway interests in West Virginia, was filed II
the United States Circuit Court to-day. The appli-
cant is john S. Jones of Chicago holder OF 100000
worth of stock in the syndicate At the head Of
the syndicate are George Gould, Joseph Ramsey,
jr.. president of the Wabash. and William F, Guy.
Of St. Louis.
Judge Richards set October g for the hearing. \
restraining order was issued temporarily prevent
ing the three defendants from selling. contracting
20 sell, transferring or parting with any property
of the Little Klnawha Syndicate It is alleged that
the 'antHgonstic attitude" Of Gould and Ramsey is
detrimental TO the welfare of the syndicate: that
effort Is being made by the defenda 3 that
might result in profit At the expense Of the lesser
holders; that Ramsey ana Guy have voted that
any two or the three heads Of the syndicate may
transact its business. thus eliminating Could that
the lands are being sold at about one-hah of their
true value.
The plaintiff takes no side between Ramsey and
Gould. but the action is brought to protect the
plaintiff and those holders who may be similarly
situated
It is alleged in the petition that ss0OOOOo has been
subscribed, of which Gould put in 100000; Ram
sey, 100000 Guy, 10000; James T Blair 100000;
Edward Fulton 100000, and others like and smaller
amounts. II is alleged that the heavy subscribers
have not paid in over per cent OF their suosGrlp-
500 900 into the construction Of railway from
GAINESVILLE Ohio to the Ohio River. and then
abandoned it when it was found that the new line
would not be for the advantage of other enter
prises in which the managers we're engaged; that
Information to the progress OF affairs has been
refused this petitioner.
Pittsburg Sept. 26,-Joseph Ramsey jr.. president
of the wabash Railroad. announced September IS
that the sale If the Little kanawha properties
had been completed. The purchasers ware inter
ests representing the PittSburg aud Lake Erie
Railroad and it was said the Pennsylvania and the
Baltimore and Ohio railroads also Were interested
in the sale. The property was hrst offered TO
so5s Gould who held mnqT t;si9 Interest in The
price demanded, which was SloG0Qoe
Interests Identified with the Little Hanawha syn
dictate who could be found in New-York yesterday,
stated that neither Nj. Gould nor AIr. Ramsey had
anything to do with the application. but explained
that it probably had been made by member OF
the syndicate who is n resident Of Ohio, and that
in the proceedings injunction sought to de
Law all negotiations by the syndicate until after
review by the courts The idea naturally prevailed
in some quarters that the application was another
move by Nj Ramsey in his fight against the
GouIds.
The Little kanawha Syndicate formed il
connection with an extension of the Wabash. Of
the Gould system Of lines. to the Atlantic Coast II
Il understood that in July Of the current wear the
Vanderbilt and Pennsylvania interests obtained an
option on large block Of the stock. but NJ. Ram
sev, on his recent return from Europe. said that
control Of the Little Kanawha had not actually
passed At that time Mr.. Ramsey. being asked
what the Wabash would do without the Little
Kanawha. said:
This IS a broad country. ana railroad doesn
require so much room. that the Wabash IS nor
confined TO one Il might be better and less
cot You know. l. said that the wabash could
never gel into PittSburE, but sle got H. All IN'i'-
And | guess she can get out too.
The Little Karswha runs from Farkersourg- w.
Va to Palestine. thirty miles thence by steamer
+v,e7t,- miles 70 Creston-ffty miles. There -
500 500 stock outstanding Of an authorized issue Of
SC 00oo0o
Joseph Ramsey. jr.. president Of the Wabash
wa seen 1t the Holland House last evening
Concerning the application for the appointments
OF a receiver. 1Ir. Ramsey SAID:
am advised of the action, hut have not yet seen
80 narars in tho case. The action Is brought ny
: Homes of DanviIle, Ohio. and it Is my inforra-
ffoD that he bases his application upon tns c4atlI
tbs+ The price obtained for The properly was not
as much as il should have hNeu: ,.i
ma 70 transfer OF the property though II may 70
eT,It in g DELAY Of couple Of weeks. Ire &pPlrt-
tfon can have no standing in court upon showing
the facts
F7ainr asked if the receiveTshlp application might
49, 5-eper significance than that he had al
.z-- ,asirred Nj Ramse.- said emphatic
$50 Tho suggestion that u might pc ltSplI-4 o
o+kers tbar Mr. Jones FOR the purpose ~ er1nai
-o--i,,o +1a r~asilent of the Wabash Ted promptly
- he stataI7le1t by Nj. Ramsey that no sucl ~
sr,Is1a-Eoo 0f the matter was 10 NJ eliterIallfl'
stz4aT said he Mr.. Gould is in accoTu with the
rausaCriOD.