The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-10-05
ARGUMENTS MADE
FOR A CO-RECEIVER
Attorney Fits Suggested That Martin
A. Brown Act in Boston g.
Maine Affairs.

RUTLAND, VT, Oct. 5. = Strenuous
objection to the reorganization of the
Boston & Maine railroad at present I'M
der way with the guidance of the pres
ldent of the road and receiver under
the district courts of Vermont and
Massachusetts, James II. Hustis of Win
chester, Mass, was the basis of the ar
gument of Attorney c.. Croker of Bos
ton, before Judge Harland B. Howe i'll
United States court yesterday Attorney
Croker appearing for the Boston Mi
nority Stockholders Protective associa-
tlon, seeks to intervene in the re-
ceivership case and intimated in court
that if he obtains standing in the
courts he will ask for the release of the
receivership.
Attorney Clarke c. Fits Of Brattle-
boro, appearing for Judge Tyler and a
number of other small bond and stock
holders, moved yesterday for the APP
polntment 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.
G. Sticknev of this city, who opposed
the appointment of co-receiver.
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
tiers of the road. With more than $14,-
100000 in outstanding notes and over
$l0,0o0,000 in cash in the Golfers of the
railroad, he said, the directors refuse
to pay any of the notes.
Attorney Fits in seeking the an
pointment of the co-receiver 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 reor-
ganization, that he was friendly with
the majority of stockholders, and that
he was thus prejudiced 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 Sticknev 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 a
question of time when the road would
be able to meet all its financial obliga-
lions. Judge Howe intimated that he
thought this scheme would work out in
time, as long as the property was a pay
=, ing proposition and the opposing IN
terests had no objection to or did not
question the ability of the present re
ceiver.
Attorney Fits in presenting his mo
ton suggested the name of Martin \
Brown of Wilmington, a big lumber
dealer, as satisfactory co-receiver
Judge Howe questioned the advisable
| tv of naming another receiver VIII,
might be in direct opposition to tn,
present receiver, and especially a MAJ
not familiar with the railroad work anc
management.
The petition of the Boston creditor
for a right to intervene in the case o
the Intercontinental Rubber compan,
against the Boston & Maine, in which
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 o
Attorney Fits for the co-receivcr.