The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1908-02-27
a RECEIVER NAMED
THE INTERNATIONAL RAILROAD
UNABLE TO MEET INTER-
EST ON BONDS.
FREEMAN IS IN CHARGE
Federal Judge Mccormick Turns
Property Over to Judge T. j.
Freeman of DalIas-No
Official Changes.

Fort Worth, Texas, Feb. 27.-An
order of Judge A. p. Mccormick of
| the United States circuit corut, APP
pointing Judge T. j. Freeman re-
ceiver of the International and
| Great Northern railway company,
and the complaint of the Mercantile
Trust company of New York, upon
| which the receiver was named, with
| the consent of the defendant COM
pany, were filed in the United States
circuit court in Fort Worth at
O clock yesterday afternoon.
Papers in the case were drawn up
at New Orleans, and were there
passed upon by Judge Mccormick,
and the receiver order was entered
| Tuesday, Feb. 25. Judge Freeman,
at present general solicitor of the
| Texas and Pacific railway; T. S.
/ Miller of the firm of Coke, Miller &
! Coke of Dallas, and Hon. George
I Thompson. local attorney of the In
| ternational and Great Northern,
filed the papers, and Messrs. Free
man and Miller returned to Dallas at
clock in the afternoon. The par
| ty slipped in the city and was out
again before more than select few
were aware of their presence and
the purpose of their visit and as the
| papers were withdrawn Immediately
after filing for the purpose of pre-
senting them to the court at Dallas
Thursday morning, it rested upon
Attorney Thompson to give out the
details and. explain the motives of
the action.
The bill of the Mercantile Trust
| company is voluminous in length,
and sets forth that the complainant
| is the trustee of a large number of
bond holders, holding an indebted
ness amounting to over $1,000, 1000.
1t alleges that the International
and Great Northern railroad COM
pany has failed to pay and made de-
fault in the payment of certain in
terest on certain bonds to the
amount of $494,620, and that the
International and Great Northern
railroad company is insolvent and
unable to meet its operating expen-
ses and obligations and to defray
the cost of improvements, etc. After
presenting these facts, the bill pray
ed for the appointment of a receiy'
er. The bill was signed by Alexander
& Green of New York and Coke, Mil
Ter & Coke of Dallas as counsel
An appearance in the Information
al and Great Northern railroad com
pany was filed by Judge n. A. Sted-
man, solicitor, together with a con
sent to the appointment of a receiv-
er. Under this situation the bill vir-
tually resolves itself into voluntary
petition in bankruptcy by the Inter
national and Great Northern rail
road company.
Bond of the receiver was fixed al
j$50,000, and Judge Freeman will
qualify in Dallas this morning and
formally assume charge of the en-
tire property of the company.
The International and Great Nor
thern is Gould property, and ru
mors of the application for a receiv
ership have been current in New
York and Texas for several months
George Gould has persistently denied
all along, however, that any of his
properties were to &C into the hands
of receivers Nevertheless the actor
G yesterday does not come as a sur
Gould has stated repeatedly tina
| the International and Great North
ern and other Texas properties were
not earnig dividends, and advers,
Legislation has, it is known, irritat
ed him very much. Recent orders o
the railroad commission, requirin,
the International and Great Northern
to purchase about S1,000,000 wortl
of equipment during the next thre
years, and to make about $1,000,
600 worth of physical property i'm
provements are interesting to not