Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1923-01-18
TO FORECLOSE
ON SHORE LINE
Pennsylvania Road Said TO
Be Planning Truck Route
in Maryland
NINE CHESAPEAKE
BAY BOATS INCLUDED

BALTIMORE. Jan. 1s.-Judge
John c. Rose. IN the United states
District Court yesterday announced
he would Sign a decree for the fore
rlosure sale OF the property OF the
Maryland. Delaware and Virginia
Railway Company. This action will
tbe taken under proceedings insti-
tuted by the Girard Trust Company,
OF Philadelphia. trustee. The rail-
way company has assented.
On February /, 1905. the railway
company issued $4,000 900 first
mortgage per cent. gold bonds,
payable February /. 1855. A trust
Fnortgags covering all the railway
company property 20 secure the pay
snent OF the bonds was executed TO
the Gsrsrd Trust Company on the
day the bonds were issued All the
bonds now are outstanding and I'M
paid. with unpaid interest from Au-
gust /. 1919
The railway property covered by
abe mortgage consisted OF It's railroad
lines from a pier at Love Point,
Queen Anne's county, Nd. to Lewes,
Del. with branch 10 centreville.
together with all its rolling stock
and other property. including the
s-eamers Northumberland, lancas-
tar. N1ddlsser. Potomac, Anne Arun-
del. Calvert. Westmoreland. St
1fa-v.x Esssr, Caroline, Emma A.
FORD. B. S. Ford. Corsica and Graft
tude
OF the premises owned by the
railway COMPANY on the date Of the
raortE.g- the following subsequent
ly were sold By the company and re-
leased by the trustee; Front and
High streets. Chsstertown: Lawton
q venue. Gratitude. Kent county, Md; .
west side OF I-awton avenue. Rock .
Hall district. Kent county, and prem ,
Uses on Chester River, Love Point 4
ND.
The following steamers also were /
released BY the trustee: Emma A 4
Ford, reoonvsysd as the Love Point /
(the Love Point was burned March 1
II. 1898, and the Three Rivers was !
built TO take her plscs): Caroline |
Essex. Gratitude and st. Msry's- The
other steamers named are subject TO
the mortgage
II was alleged in the bill OF COM
plaint that the Maryland, Delaware
and Virginia Railway Company owed
ss5G,o0o interest on the bonds, and
in consequence the Girard Trur
Company, as trustee. was directed
on Novembcr IS. 1922, by the hold
ers OF a majority In amount OF the 1
,,utsta ndinx bonds TO declare that I
the principal OF the bonds was due 4
and payable, as provided in the I
m ortEsge- This was done on Decem- /
Der 10.
A formal answer was fled by the I
railway company admitting the /.
staten snts IN the bill Of complaint /
and oonsenting TO the passage OF the /
decree
Proceedings in the Federal court Z
ire believed 10 be preliminary TO ;he I
plan OF the Pennsylvania Railroad .
Tor the Introduction OF motor truck .
raffic on the Eastern Shore. accord f
ng TO A g Goldsboroush. secretary .
u the Merchants and Manufacturer !
Association This organization Is
making a close study OF the stua-
ion as it affects both Baltimore and .
he Eastern Shore
I'VE believe the move is 10 clear .
he way for the severance OF the
lines from the rail IN order
% bring about changes suggested by 4
4. E Beck. traffic manager OF the /
Merchants and Manufacturers Az
ISOLATION. who has made a STUDY o
conditions sad Mr. GOldsboroush-
we have had assurances from Penn
sylvania officials that no move VIII
be made 10 the detriment 81 Bslti-
niore's interest on the Shore. and .
We believe this viii be adhere dto.