Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-22
CHANCERY COURT WILL
SUPERVISE DISSOLUTION
Tidcwater and Western Railway TO
Sell It's Properties and Go
Out Of Business.
RIGHT OF WAY Is PROBLEM
May Revert to Farmers From Whom
1t Was Acquired, or May Be Made
Into First-Class Highway Across
Southsidc.

Pending tho receipt by tho Chancery
Court OF tho order entered several days
ago by the Virginia Supreme Court
OF Appeals allowing the dissolution Of
Company, operating In Chesterfield and
adjoining counties, no further action
will be taken. ind no trnins operated
on the line. 1t was announced yester-
day. Lansbourne' NJ. williams. 'presi-
dent and receiver OF the railroad. will
hold Il conference with Judge William
A. Moncurc next week, when the date
and other details In the sale OF the
property will be determined.
1t Is not known ~ yet whether the
railroad property will be sold private
ly or at public auction. It rs known.
however. that before litigation over
the dissolution Of the railroad. the Of
flcers OF the company had received a
hattering offer for part OF Its equip
ment 1t Ia not known whether this
offer still would be made. and the prop
crty purchased mt n private SALE
Another question Of what will. be-
come Of the right of way OF tho Tide
water and Western Railroad has been
raised. There Is more or less contu-
sion whether or not the property re
verts to the farmer-owners. since the
company will cease to exist upon it's
| dissolution. The suggestie n was made
yesterday that, 1t be converted into a
highway. afording an excellent thor
oughfcre through one OF the richest
agricultural sections Of Virginia.
ACHIEVED OVER ATTITUDE
OF CHAIRMAN GARRETT
Officers Of the railroad continued eg-
Crteved yesterday over what they term
ed the high -handed attempt Of Judge
Christopher B. Garnett to hold them
up in tho proceedings before the State
Corporation Commission and denying
them their rights without consulting
the two other members Of the commits
sion." Mr.. Williams issued the follow
ing statement yesterday afternoon:
1T is understood that the situation
of the Ttdewater. and Western Railroad
to-day is about as follows: The d.
rectors OF the railroad, knowing OF the
policy pursued by the Corporation
Commission prior to May 10 in grant
roads. made n contract with H. NJ. Eos.
ter & Co.. OF Baltimore, to sell the
rails at $40 ton; but whom the d.
| rcctors learned OF the refusal Of Chair
man Garnet TO grant the certificate
OF dissolution In accordance with his
previous action in other railroads. the
directors applied to the Chancery Court
of this city for receiver. and Lang
bourne NJ Williams was appointed.
Now the question SIS. whether the
Ch2ncery Court CT this city Will re-
auire the rails to be sold at suction
| boRdholders at tho present market
price-say, $50 a ton-or Will permit
the directors to carry out the contract
with II. 81. Foster & Co. at the former
price Of $40. Also questions OF she
dismantlinG and selling OF every piece
Of property OF the railroad arc now TO
be presented to tho Chanccry Court
of the city of Richmond, under whose
jurisdiction the dissolution OF the road
will now be carried out.
| Regular service on tho road was
discontinued last May. in spite Of an
order issued by Chairman Garnett in
strIcting the officials Of the road to
continue operations. Upon that oc-
casion he ISSUED tho order on the Of
fcials OF the road without giving the
| railroad officials notice, and without
| consulting the other two members OF
the commission. The Constitution OF
| Virginia provides that any case before
the Corporation Commission should
not be acted upon before giving ten
days notice to the Interested parties;
and. Furthermore. when Chairman Car
nett issued his order for tn. contiau-
ance OF the operation Of the. road. he
acted without first having conferred
! with the other two members OF The
comm ission."