Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1916-10-06
ARGUMENTS FOR oo-REcEIvER.
Attorney Fits Suggested That Martin
A. Brown Act In Boston & Maine AT
fairs.

Objection to reorganization Of the
Boston g. Maine railroad at present UNI
der way with the guidance Of the pres
ident Of the road and receiver under
the district courts of Vermont and
Massachusetts,, James H. Hustis Of Win
chester, Mass, was the basis of the ar
gument of Attorney G. Croker of Bos-
ton before U. S. Judge Harland b,
Howe in Rutland Wednesday. Attorney
Crooker appearing for the Boston Mi
nority Stockholders Protective associa-
ton, seeks to intervene in the re-
ceivership case and intimated i'll court
that if he obtains standing in the
courts he will ask for the release of the
rcceivership.
Attorney Clarke C. Fits of Brattle-
boro, appearing for Judge Tyler and a
number of other small bond and stock
holders moved Wednesday for the APP
pointment of a co-receiver, and this was
argued at length both by the Brattle-
boro attorney and the Boston attorney,
Judge Howe intimating that he did not
wish to try the Vermont branch Of the
case before the facts are heard in the
Massachusetts court where the petition
was first filed.
The interests of the directors of the
defendant company and of Receiver
Hustis were looked after by Attorneys
John G.. Sargent of Ludlow and w. b.
c. Stickney of this city, who opposed
the appointment of coreceivcr.
Attorney Croker again stated his
claims as to the mismanagement of the
road, while Attorney Fits called the at
tention of the court to the money mat
ters of the road. With more than s14,-
100000 in outstanding notes and over
100000 in cash in the golfers of the
railroad, he said, the directors refuse
to pay any of the notes.
Attorney Fits in seeking the APP
pointmcnt of the co-rcceiver said he did
not question for a moment the ability
or the honesty of President Hustis, but
he did think he was part of the rcor-
ganization, that he was friendly with
the majority of stockholders, and that
he was thus pre- JUDGED or biased in his
stand on the coming reorganization of
the road. Attorney Fits feared the
road, under the administration of Pres
ident Hustis, would spend enormous
sums of money.
Attorney SticRncy for the receiver
pointed to the fact that within the past
two years the road had made immense
profits and that it would be only 9
question of time when the road woulC
be able to meet all its financial obliga
tions. Judge Howe intimated that he
thought this scheme would work out il
time, as long as the property was a pay
ing proposition and the opposing in
terests had no objection to or did no
question the ability of the present re
ceiver.
Attorney Fits in presenting his mo
ton suggested the name of Martin A
Brown of Wilmington, a big lumbe
dealer, as a satisfactory co-receiver
Judge Howe questioned the advisable
, ty of naming another receiver VIII
: might be in direct opposition to tn
present receiver, and especially a maj
not familiar with the railroad work an,
management.
The petition of the Boston creditor
for right to intervene in the case o
the Intercontinental Rubber compan,
against the Boston & Maine, in whic
the plaintiff was successful in having
receiver appointed, was held in abey
ance by Judge Howe, who intimate
that he would not allow the motion 0
Attorney Fits for the co-receiver.