The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-20
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BvTIaeO, MAY 10 Junticr Keneheh this
afternoon issued ~ order granting G~r.
mission 10 tsc~iver Frank sullivan Smith
% the p%ittsburE. shaWmut and NORTHERN
Hallway 10 borrow o. len, 0Oo ~ receivers
certificates Of indsbtedheea The money
vii, be uaed for making ifnpr Ovefnents IN
property
william Barclay Parsons, the New York
engineer. vas brought from New York ~
. witness In support of Mr. Smiths petition
for the permission. The Jud - asked him
ons short question. as TO whether he thought
II the proper thing TO do to spend 81 much
money 80 planned, MFR. Parsons said he
felt there was no question about the advis-
ability Of 1t, lie then fastened out to
catch q tr aln TO New York.
J T Odell, former general mana ger Of
the BE ltimore and Ohio Railway. now an
expert railway engineer, advisory engi-
neer for the Steel Corporation in it's trans
poration matters and In general charge Of
he trusts wonderful little line known a. the
New Bes Line. was another witness
for Mr.. Smith. He said that the proposed
expenditures would pay for themselves.
One remarkable thing In TO be done with
part Of the money to be borrowed. Some-
where bet ween Paine Junction and Saint
Mary's, Pa, Ia u very bad set OF curves
and a bad grade like q worm trail over a
ridge. Mr.. Smith is to spend tl+6 900 in i'm
proving tn ut section, and q few months ago
the receiver got permission to raise about
$50. 900 on certificates for a few improve
ments. He made the changes and spent
that money. Then he went into court and
got permission TO borrow IS, 500 900 on re-
ceiver's certificates. The money to go for
improvements. Mr.. Metcalf was successful
In a proceeding to have that order can
celled. Mr.. smith then applied for the
order that was granted this afternoon.
What he expects to accomplish was
stated TO the Judge asfollows:
We're going TO spend $l45 900 there and
change "a grade of 81 feet in a mile against
the trend Of our traffic to 20 feet in the mile
IN u favor and at the same time shorten
the trackage.'
mine is to be opened at the expense Of
$l5s, 900. and SAYS 900 will be used in building
a line around Shelby Summit to connect
with the Brookville and Mahoning line,
which was built some time ago in the in
of the S~tonybrook Glen viaduct will take
sol 900. Electric haulage il TO be installed
at No. Q Shawmut mine ut d cost of 50 900.
The other uses to which the money will be
put are numerous and cover a great many
parts Of the railway and mining pro perty
Mr.. Odell said that unless the improve
ulents were made it would be but a ques-
ton of time when the road would have to
go down.
"Ill grant the order said Justice kene-
iok in concluding his hearing. but it is
ON condition that the new rights Of way
will come under the present mort cages"
That proviso il to protect the bond
holders, some of whom are represented
by Mr.. Metcalf. Their bonds are at present
secured by mortgages on the present right
OF way. II the rights of way were changed
without corresponding changes being made
in the securing mortgages then the bond
| might turn out TO be worth very little,