OCR Text |
Show UDGE SANBORN il DENIES PETITION A tfofies to Permit tho Issuance of t J $3,000,000 Worth of "FriBCo" !S Certificates. ST. PAUL. April 25. Judge San-irn San-irn of the United States circuit court fjfappeals, sitting at an informal dis-ission dis-ission of the affairs of the SI. Louis .Sau Francisco railroad today, de-ijjj de-ijjj incd to authorize tho issuance of ; 000,000 worth of receivers' ccrtifi-tes ccrtifi-tes for tho purpose or paying inter-t inter-t on the general lien bonds due May . A fand that of tho funding -1 per cent ihds due July 1. Representatives oi a large New York inking house came hero to petition n idge Sanborn, but .iust previous to i e time sot for the formal hearing it ' is decided to discuss the matter only , ,"i formally. ' :) In his decision Judge Sanborn said at the court owed to the state tho ity of carrying on the work of tho 'i rporation and seeing to it that tho ihvav continued serving tho public, fd that the court could not permit ;J ;6 issuance of an obligation without ' eing a way of paying the same when i le' ' , 4 JAfter the hearing it was learned at arrangements are under way by a Bw York bunking firm for advnnc-a9 advnnc-a9 i to the general lieu bondholders, jo have deposited their holdings with .s p! Xpw York house under the ooud-rj ooud-rj Sacra' agreement, the n mount of tir interest duo May . The bonds posited under this agreement amount 130,000,000. |