The Sun. [volume] (Price, Utah) 1915-1932, 1918-04-26

Action OF the supreme court VI the
United States In refusing TO review
the decision OF the lower tribunals In
the Judgment for f32, 270.34a in favor
OF the Equitable Trust company ag-
ainst the Denver and lilo Grandc II
looked upon by Utah and Colorado
railroad men as paving the way for
the Western Pacific to absorb the
Denver and Rio Grande after the war
II ~ pointed out that the Denver and
Rio Orando cannot be absorbed by
the Western Pacific while the rail
roads are under government control
and operation, but n IN declared by
officials that when the war ~ over
aud the roads revert To- private con-
troll. the Western Pacific will simply
absorb the Denver and Rio orande ~
satisfaction OF the Judgment which the
latter has not the required free assets
Co pay.
Judgment was returned against the
Denver and Rio Orandc for sas. 27O.-
AGA. Tho decision was sustained on
appeal by the United States circuit
court of appeals In New York. and
the case was then taken 10 the United
States supreme court u u believed
there will be no further attempt Co
avoid the judgment An official Of
the Western Pacific said that while d
was probable that steps would be-
taken To- turn over the free assets of
tho Denver and ITO Grauoc To- the
Weston Pacific nj once. together with
whatever rentals the government pays
the Denver aud Rio Orandc. the West
orn Pacific will not be- able To- secure
actual possession of the other road
1
The Denver and lilo 0randc. u " said
can never pay the judgment. there
fore the Western Pacific will have an
equity IN tho property that viii give u
compicte control This equity. Of
course. viii pass To- the Western pa
lclfic at once
In "a signed statement which he has
issued. had printed and ~ sending a.
the stockholders of the Denver and
Rio urande. Ernest Howard. "a stock
holder 81 New York declares that the
deal bv which the Western Pacific has
been given a Judgment of $4,000. 900
laEainrt the Denver and Rio urande u
AS had case Of plundering as has
ever diaKracod American railroad his
tory" lie says that this debtor obll-
cation fastened upon the Denver and
RIO Grande by the recent decision OF
the United States circuit court OF ap-
poaIa for the New York district. which
would virtually wipe out the stock
holders equity In the property. lacks
no due force or point of law. but that
Il does lack substantial Justice. He
claims that the figures 81 IN" iudg
ment are far beyond what they, In
Justice and equity. should be. aud that
they were arrived az by manipulation
and failure on the part OF the direc-
tors Of the Denver and Ria urnndr
10 take proper action at the proper
time.
Howard alleges that the fixing OF
the Judgment figures ON basis OF the
difference between the receiverHhip
sale price OF $4,000. 900 ana the SEQ
OOO, 900 face OF the mortgage debt.
with interest. was unjust and unfair
TO the Denver stockholders. lie ar
CUES that the real value of the West
ern Pacific property. and it, futurs
value, should have been taken int
confederation IN arriving AZ the am
cunt OF the judgment. instead OF th'
upset receivsrship sale price. lie con
tends that had this been done ths
lust liability OF the Denver stockhold
orn would have been about $4,000
900 instead of the ,3s,00o.o0o OF th'
Judgment