The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-06-28
Passenger. a rand. n |. Power ',l Receiv-
ership to End Within
NextThirty Days.
PECIA.L MASTER
MAKES FINAL REPORT
Work Extending Over Period u
Three Years completcdb BY Judge
Holiday Goulds to Ac-
qliirc Property Long
in the Federal
Court.

d
rsrER working over the mat
~ ter for nearly three years,
IN Judge "A. u. Holiday yester-
5FA day submitted his report as
special master to Judge Ed
mund Waddll, ,rr.. of the United States
Circuit Court. In the Passenger and
Power Company receivership case. the
style OF the cause being the Bowling
Green Trust Company. Trustee, versus
Virginia Passenger and Power Com
pany, and others. n
The following caption. taken from
the report, Shows the various mat
fers with which the special master
had to deal. "A
The undersigned, Addison u. Holm
day, appointed special master In chnn-
rery by n decree entered fin the above
styled consolidated cnuse on tho 10TH
dny! of March, 1905, rcspcctfnlly sub-
nits the following sepnrate report,
showing The property, real ana per.
sonnl. assets md franchises OF the
soutl,sidc Railway and Development
Gompnny, yirElnln Internal Improve
trent Company. Virginia Electrical
HALLWAY and Development Company,
Nrcsthnmpton Park Railway Company,
Nirginin passcnscr and Power con,-
pnny, Richmond Trnction Company,
mud Richmond Passenger nnd Power
Company, ana the liens thereon and
their priOrIties.
Judge Holladay takes up each one
Of these matters In tile order In which
they appear above. and treats them
In a most exhaustive manner.
As special master. Judge Holiday
has held numerous hearings, and all
parties in interest have been given
full opportunity for setting out their
claims.
1Iaster's Report Complete.
judge Holidays report is complete
as to all matters involved, except a
few small supply and eanitabh liens
and other trtfIing claims. and 1t is
thought that these. as we'll as all
others. Will ba wound up early in Juiys
The report and the accompanying
statements show every bond issued SDy
the companies: the serial number OF
every bond issued: The class of every
bond; to whom every bond was
issued; the purpose for which they
were issued. and whether they are held
az owners or for collateral
All the parties are given thirty days
from yesterday to file exceptions. and
atEthe end OF that time It will besready
for the court to pass upon alllitigated
questions and TO determine the rights
practice iii the State courts. the Fed
eral courts have the right to order u
sale Of the property before acting upon
the report. or, indeedy before any re-
port Is made. 1t rests In the sound
discretion OF the court to determine
whether to adiudicate all the rights
!, in advance of sale. or to sell and de-
termine these rights afterwards.
10 Order Sale of Road.
1t is believed that sale Of the prop
serty will be ordered shortly after the
expiration of the thirty days provided
by; law for filing exceptions to the
report of the special master. and that
the Goulds. who own a controlling in-
terest in the consolidated companies
VIII be the purchasers
Not a great many exceptions are an
ticipated. however. as the attorneys for
the various interests have often ap-
peared before Judge Holiday and
stated their positions with reference to
certain questions involved. .+
Copies of the report have been sent
out to 8allSof them, and they will file
such exceptions as they may lave g to
make within8ttc thirty days allowed.
The litigation has been long drawn
out. and In Its earlier sta ges was filled
with sensational performances such as
neys representing opposing sides. In
their efforts to beat each other out on
securing Injunction orders from the
court The receivers. w no were named
by Judge Waddtll, and who have man
aged the affairs of the company in
most husiness-like manner for the.
I past three years. are N1essrs Henry r..
IyYickham and William Northrop. All
connected with the litigation are graft
81. Se,h, go, -
isUr. 3ss ess tSaS6a5 b q 5
Thought the report is "a. very volu-
3. mlnous paper. Its alent points are to
/ hof found IN the flowing. which is a
concise summary of the entire case:
REPORT OF THE MASTER ON
NIORTGsAGES.ssf ss
N The Mnster Now Rcports.s
First. 6Tknt the mortgage executed
blythe Richmond ailwayIand Electric
L Company, dated July = S90,. purp ort- :
Its bonds Of $1,000 each, aggregating
3 S2,0ooo0o, isst The first lien and encum-,
enhs
Schedule a, 3of this srep port. n ts5 Il
s8 This mort ga go now ecurest the pay
fment Of "a a3 Q said bonds Of $1,000
each; aggfesaattII,ng s1ss,oeo. With inter-
1 per annnm from u anuary 4, II Dos, evi-
denced by coupo payable semi-;a y
lnually%s NJ s 5s9 StS r. fi5 i5st y ,4s 5g Il sa
44 seennd. That the mortgage executed
Il hys tho Richmond and 1anchester Rail n
Ways Company dated re ebr,ary go.
lsa3, purporting to secure g.t he nay
y &RgRregating $40O00o. Is the first lien
i and Sencunlbrancei on he prop ty, as-
eets and franchise described In Article
XII Schedule "a. Z l S 3ssi
This mortgage now secures the pay
nlent of sI 90 $nfs sa Id bonds Of $1,000
Il ma CHI, a ggrag'a ting $400, ,0O0,S Withfinter-
\ est thereon ut tho rate OF s per oentum
II from Janua ny u ]. \ 900, evidenced ,liy
roupons pslyab abl g w semlsannsal here
Third, That tie cennolid II ed u lnort-
Il ga gs executed by TIL gHi q hmond Pas
asss,re te
NJ @paNrlent u of 100 q fs its bonds 5tof 1000
rachs as gEregating, Sa,000,000, ~ iss' Ca the
u second lien an d II snpuln branc a8 on he
nt!nusd i anS 1ChlyA Raxa. g
ss E