The San Francisco call., 1910-01-13
RECEIVER STRATTON
ANXIOUS FOR ACTION
Wants Investigation of Ocean
Shore Affairs by Board of
Competent Engineers
Attorneys for Bond Holders OBJ
iect TO Plan as Useless
Waste of Funds

Opposition TO completing the Ocean
Shore railroad under the receivership
of T. s. Stretton disclosed a plan on
the part Of the bond holders yesterday
10 take matters into thei- own hands.
Even the appointment OF impartial en-
Eineers by the court TO hnd the truth
as TO the roads prospects was object
ed to. with the result that con-
tnusnce was obtained until a week
from next Saturday. Receiver STRAIT
Ton appeared yesterday as the cham
pion Of the Investigating board, while
T. :. PilIsbury, attorney for II. d..
Piilsbury. seemed in no hurry to exc
cute the plan he had himself proposed
IN a suit Of intervention
StrattOn. said, in court and out, that
he wanted TO terminate his receiver
ship unless there was a prospect Of
putting the road on paying basis
Meantime he proposed to protect all
parties. including the stock holders
who put s2,500, 600 into the road with
out security and the creditors who hold
s2.700 600 OF unsecured claims. At the
opening of court Walter kaufman, at
1orney FOR the receiver, had no sooner
brought up the question than T. j. Nc
Cutchen, representing unnamed bond
holders. objected. McCutchen said there
was no hope OF putting the road on
its feet and Investigating engineers
would be useless expense. He thought
4 report would require six weeks or
more Further. the stock holders. he
heard. had appointed d committee to
confer with bond holders in regard to
winding up the affairs Of the road, if
necessary, or of reha biiitating il inde-
pendently.
ATTORNEYS CLASH
kaufman replied that. owing to ma
terial already collected. an. engineers
report would not take over a week,
experts asking but 500 a day. Whether
the road is continued. foreclosed o.
sold. he said, such q report would be
necessary. Moreover. he did not see
what right attorneys not on record had
TO object The receiver, he added, pro-
tects not only the bond holders, but all
creditors. including the unpaid Labor
ers
Pillsbury. Henry II. Davis. for GER
tain creditors; Matt sullivan as repre-
sentative Of $4,000 worth OF laborers
claims and others Joined in a plea for
delay. w. I. BrObeck for the Mercan-
tile trust company. trustee of the bonds.
made general objections to everything
lae receiver proposed.
Judge Van Fleet. while describing the
proposals Of the objectors as vague
and indefinite, said he would grant q
short delay to examine their merit
Meantime he advised the objectors not
on record 10 prepare legal papers with
view TO obtaining a standing in court.
STANDARD OIL PAID
An issue of receivers certificates to
cover fuel oil bin of over $4,000
owing the Standard oil company was
allowed Kaufman said the company
Lad made ? contract when the price Of
-il was low, Since then oil has risen
nd the trust has used delinquency in
PAYMENT as an excuse TO repudiate its
Obligations. Kaufman said that ne
wished 10 test the trusts commercial
honor by tender Of the money, for
81 the price of oil had dropped the
company would be the first TO fight for
the Legality Of the contract