The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-02-07
Trusteeship for French Bond
Issue Successfully Arranged
With Big Chicago Trust
Company.
ADvICEs FROM FRANCE
INDIC..TE EASY SAILING
DobsOn Returns from Taking
Testimony in Dunlavy Dam
age Suit Another Kink in
Way Of Central Sale.

col. y. W. Dobson returned last
night from santa Fe where he has
been for several days taking testimony
In the big damage suit of the DunlaYy
Mercantile company against the
Pennsylvania Development company
and the New Mexico Fuel and Iron
company. The case Ia one OF h
numerous rough kinks In the pending
sale Of the New Mexico Central n
Albuquerque Eastern railroads 10 the
Gnif. New Mexico n Pacific COM
pany. and one OF the last big legal dif-
nculties In the way Of closing Of the
sale. Every effort is being made to
get u out Of the way as quickly as
possible. with every prospect of sue
cess.
In this action the DunlaNy Mercan-
tile company seeks TO recover $4,000
from h New Mexico Fuel and Iron
company on the ground that the
piaintins purchased the commissary
department from the Pennsylvania Do
vtlopmont company and the Fuel
company, for the construction camps
81 the Albuquerque Eastern and us
proposed extension to Roswell. with
assurance from the defendant COM
panles that the roads would be built.
The plaintiffs also claim damages
for profits which they would have Sc
cured, 1t Is alleged. from timber cut
tlng contracts with the Defendant
companies. made upon the same as
sursnees. The Dunlavys claim 20 have
lost $50. 900 In the Eastern railroad
transactions. The taking OF testimony
has been continued for q few days but
viii be completed next wees.
This case said Col Dobson iais
morning, lie one Of many of the SER
ious legal difficulties which have been
met Ia completing the sale of the
Central properties TO the aeW railroad
company ana which indicate that the
road OF the promoters has not been al
easy one
Waffle I have no Information that
any money has actually been paid
over 10y the French banking people
who are tn hnance the Gulf New
Mexico and Pacihc bond issue. and
while 1 hardly think that any suci
pas ment has been made as yet. | dO
know that no hitch has occurred In
the financing OF the railroad, and thai
it's plans are progressing successfully
80 successfully. In fact, hat there now
seems no possibility Of failure The
telegram to which rumor has referred
q here and In Santa Fc. n said 20
have come from Col Hopewcll 90 me,
was simply a re-aHsuring statement
from Mr.. Green In Paris Ia the cnec.
that the French bankers had granted
further time TO The promoters on Thu.
side. made necessary by n delny
caused In arranging the trusteeshir
FOR the French loan.
"Pittsburg and New YORK bankers
satisfied themselves az TO the status
81 tn" French hanks floating the loan
while Col. Hopcwcli and myself were
iu the east last month but she placing
of the trur'ecship With one Of the
New York trust companies involved 4
lar heavier expense than the pro-
motors cared to pay We then TOOK
the matter Ia Chicago where the Col
onial Trust company finally heCuns
the trustee Tor the bon issue Thi'
matter caused some delay. but now
has been successfully closed. and Whii'
have no Information that ans moncl
mas actually been transferred 90 thu
side, ! have no doubt that the fund.
Tnll have been transferred To tbs
trustee within "a very short Time
so Tar as We can see al this time
there h nov no further p%robabilit.
of q hitch IN the plans OF the 0ulf
New Mexico and Pacific or any YER
long delay Ia the beginning OF Il
construction"