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Show RECEIVERSHIP ASKED FOR WESjEl MIC Road Is Unable to Meet the Interest on Its Bond Issue. SAN" FRANCISCO. Cal.. March The Equitable Trust company of Now York filed ft petition with Judge Van Fleet of the United States district court today asking ask-ing that the Western Pacific railroad be i laced In the hands of a receiver. The petition asked that Warren Olney, Jr., i-hlef counsel of the railroad be named receiver. re-ceiver. Today's action follows an announcement made by the controlling interests in the Western pacific in New York Saturday that the railroad would be obliged to default de-fault in $1,250,000 interest on its bonds, which fell due yesterday. The amount of thii bonds is $.S0,000,0oO. of which about ?1C.0Om.0U'I ;tre held on the Pacific coast. In the petition filed today a request ia made that permission he sivcn to sell the vail road at auction if within a definite time, to be fixed by tho-eourt, the railroad is unable to meet its obligations. In a statement, issued in- tho Western Pacific officials here Saturday, it was declared de-clared that tho railroad while earning more than its operating expenses had never been able to meet the full interest on its bonds. For the past ten years the Denver & Rio Grande railroad, holder of the controlling interest, has met the deficiency, de-ficiency, paying in more than 516,000. 000, bm is no longer able to continue, it was To the petition for a receivership the Western Pacific company filed an answer in which it admitted all 'the allegations in the complaint of the Equitable Trust company. "The filing of our petition is the usual foreclosure proceedings following1 an announcement an-nouncement of a default in interest." said Jaied How, attorney for the trust company. "Although the floating indebtedness indebt-edness of the road is normal it is heavily overbonded and the interest on these bonds has been too great a burden to bear under present financial conditions." General bad business conditions are responsible re-sponsible for the road's condition," said Alexander R. Baldwin. Western Pacific attorney. "The company did not open to a paying volume of business until although al-though it has been under operation since 1K9." BEST LAXATIVE FOR BfMMfflETS Wljcn crjiistipated. liradach.y, bilious, brp.-ith bad, stomach sour. Get a Ki-cnnt box. A ro you keeping your tioupls, liver and stomach clean, pure nnr fresh with CaNcnrets, nr niernlv forcing a pansafre.-ivay pansafre.-ivay every fmv flays with salts, cathartic pills, castor oil or purgative waters? Stop having howcl-wash-dav. Let Cascarets thoroughly cleanse arid regulate regu-late the stomach, remove the sour and fermouting food and foul gases, take the excess bile from tho liver ancl carry out of the system all the constipated waste matter and poisons in the bowels. A Cascaret tonight will make you feel great by morning. They work while you sleep never gripe sickpi or cause any inconvenience, and cost only 10 cents a box from your druggist. Millions of men and women take a Cascaret now and then and never havo headache, bilious, ness, coated tongiie, indigestion, sour stomach or constipated bowels. Casca rets belong in everv household. Children Chil-dren .iust lovo to tako them. (AdvorUsament. ) |