Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-12-19
READY TO GIVE BOND.
Wabash Receivers to Act
When Court Confirms.
"FRiENDLY" SUIT IN COURT
Interests Identified With Reorgani-
zation Actively at Work.
JANUARY INTEREST ASSURED
Independent Committee Formed to
Represent Big Financial Inter
ests in Phree Cities.


NEW YORK, December 19.-The several
interests identified with the reorganiza-
ton Of the wabash railroad, which was
put into the hands of friendly receivers
yesterday by the United States circuit
court in st. Louis, We're actively at work
today.
F. A. Delano, president of the company,
and Edward B. Pryor, vino with William
X. Bixby of st. Louis are named as re.
ceivers, left this city last night for st.
Louis. presumably to be confirmed in
their positions by the court. winslow 8.
Pierce. chairman Of the Wabash reor-
ganixation committee. and Alvin ".
Krech. both Of whom yesterday returned
from an inspection Of the property with
President Delano, we're in conference to-
day. but declined to make any statement.
Later Messrs. Pierce and Krech con-
ferred with Kuhn, Loeb & Co., who have
become the Wabash fiscal agents under
the proposed reorganization.
Interest Sure to Be Paid.
An official Of the Wabash road today re-
peated the statement frequently made at
the Wabash Offices during the past txo
months that the money to pay January
interest on the roads first mortgage
bonds, Of which $50. 10000 are outstand-
ing, is in the bank, and that the coupon
is sure to be paid.
The announcement issued by commit
tee last night to holders of the first re-
funding and extension mortgage bonds
offers to pay interest on this security to
oil who deposit their bonds with the
Equitable Trust Company. Apparently
no provision is made for such holders OF
these bonds as may decline to deposit
them with the trust company.
:: At the request of q large number OF the
stockhoIders of the Wabash Railroad
Company, both preferred and common,
committee has been formed to protect
their interests. 1t will be composed OF
J. Horace Harding Of Charles D. Barney
Co, Charles H. Keep, president OF the
Knicke booker Trust Company; Frank b.
Keeck Of Keeck. Loew 4 Co., Philip Aen-
man. Of Lehman Bros. and Frank X.
Stursis Of Strong. sturgis & Co.
Independents Seek Protection.
An Independent protective committee
for the wabash railroad per cent re-
funding bonds is being formed to repre-
sent financial interests in New York.
Phfladelphia and ST. Louis. The new
committee will seek to- intervene in the
receivership proceedings and will apply
for the appointment OF a receiver inde-
pendent Of the present Wabash manage
ment.
Ten Days in Which to Bond.
!. ST. LOUIS. December .19.-Receivers
will take charge of. the Wabash railroad
as soon as they appear before Judge
Elmer B. Adams in the United States
circuit court and qualify by giving $780,
600 bond each. These bonds must be
given in ten days.
Henry Miller, vice president and gen.
eral manager Of the road. i'm a statement
today, says the receivership in no way
will affect the operation Of the road,
which has 1900 employees.
The receivers were appointed by Judge
Adams on the application of the West
inghouse Air Brake Company of Pitts
burgh which filed a. claim Of $4,000, and
alleged that the road was insolveft and
Unable to meet unpaid vouchers of 81. S00.-
OOD, and had bonded obligations due
January 1. 1912. which will be defaulted.
Wells III. Blodgett. general counsel Of
the Wabash. who was appointed solicitor
for the receivers, did not reach his home
here from New York until early today.
Edward B.. Pryor is expected to reach
St. Louis from New York today.