The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-06-14
PHONE FIGHT
LOST BY j. A. HOWARD
FORECLOSURE PROCEEDINGS
ORDERED BY JUDGE DAYTON
The Court Also Asks Receivers to
Investigate the Vercoe
Plan.
Commonwealth Trust Company
VIII Now File Foreclosure
Mortgage.

Upon motion OF General T. s. Riley,
OF this city. representing the Com.
monwealth Trust Co.. OF Pittsburgh,
made yesterday in federal court a,
Parkersburg. Judge Alston G.. Dayton
will enter an order allowing that com.
pany to proceed to file its suit for
foreclosure OF mortgage in the case
OF John A. Howard VS.. the National
Telephone corporation. Another i'm.
portant order that the court will
order instructs the receivers of the
corporation to obtain more detailed
information as to the proposition
made by J. II. Verooe, which they
sometime ago recommended accept
ance Of in their report The court
also instructs the receivers to secure
names and respective amounts and
value OF holdings, stockholders and
bondholders who favor acceptance Of
the Vercoe ofrer. as well as those who
oppose II, and to report same to the
court at the earliest possible time.
The action OF the court simply
means that John A. Howard has lost
his fight to prevent foreclosure pro-
ceedings. The two orders of Judge
Dayton are important steps leading
TO the final adjustment OF the affairs
OF the concern. For several months
Mr.. Howard has opposed the proposed
Vercoe plan. and from the ruling of
the court yesterday It looks very
much as though he has lost on every
point. The full report OF the order
made by Judge Dayton follows:
on this the 18th day OF June. 1912.
came the plaintiff by his attorney,
as well as the Commonwealth Trust
company OF Pittsburgh, successor
trustee, by its attorney. and a mot
ion having been heretofore made to
set aside an order herein, entered
on the goth day of April. 1912. giving
permission to the officers OF the un-
DERIVING companies. which are own
ed by the National Telephone corp
oration, and pledged under the mort
gage. dated on the FIRST day Of July.
1909. and permitting the Common
wealth Trust company, Of Pittsburgh,
successor Trustee. to institute IN this
court n foreclosure suit against the
National Telephone Corporation: and
also upon a motion by the Common
wealth Trust company OF Pittsburgh,
successor Trustee. TO set aside and
annual a suspending order entered
on the gath day OF April. 1912. setting
aside. for the time being. the above
mentioned order entered on the goth
day OF April. 1912. which motions
GER a
court, and II appearing TO the court
that under the order OF the goth day
OF April. 1919. giving such permis-
sion To the officers OF the underlying
companies In the hands OF the re-
ceivers TO transfer the stock OF the
underlying companies. and before
said suspending order OF the gath
day OF April. 1912. was entered. that
the said stock had been transferred.
Upon consideration OF all which the
court doth deny the motion TO set
aside the oder entered herein on the
goth day OF April, 1912, and 20 sus-
tain the motion to set aside and an
null the suspendinR order entered
here on the gath day Of April. 1919:
and doth further adtudge. order and
decree that the order entered herein
on the gath day OF April. 1912. ~
set aside and held for naught. and
that the order entered on the goth
day OF April 1912. be and remain m
full force and effect from the date
of the entry thereof. but shall and is
hereby modified TO the following cx-
tent that the transfers OF stock on
the books Of the Telephone compan-
les Of the Commonwealth Trust
company. successor Trustee. under
said order entered on the goth day of
April. 1912. shall remain In fun force
and effect. but the receivers of the
court shall have tho sole right to
vote the said stock a. any stock
holders meeting of the companies by
which the stock was issued and the
receivers 90 otherwise have the same
control over said stock and interest
therein as they have heretofore had
until tho further order of this court.
And the court receivers the right 70
enter any further order or orders IN