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Show TISAU,P.VIGTORY Jadi?e 3Ierritt Appoints W. H. Bancroft as Receiver FOR THE UTAH BRANCH, To Act With John M. Eeran Who Was Appointed Ap-pointed by the Courts at St. Paul and Helena The Trust Company Must Pay the Interest Pint, However. ! All Utah and the west has been deeply Interested in the receivership ca3e which has been -on for a week past before Judge Merritt at Salt Lake city. The decision was handed down yesterday. yester-day. After the title of the case the decision decis-ion sets forth as follows : "This cause coming on to be heard upon the motion of the American Loan and Trust company, trnstee ot the consolidated mortgage ot the Oregon Short Line & Utah Northern Railway company, dated tbe first day of August, Aug-ust, 18S9, for an order directinz Silas H. II. Clark, Oliver W. Mink, E. El-lery El-lery Anderson, Frederic R. Coudert and John W. Doane, receivers now in possession cf the railway lines and properties of the said Oregon Short Line and Utah Northern Railway company, com-pany, to transfer and turn over the said railway lines and properties to John M. Egan, receiver aupointed by the circuit court of the United States for thj district of Oregon on the 20th day of March, 1895, In the cause brought by the American Loan and Trust company against the Oregon Short Line and Utah Northern Railway Rail-way conmany lor the foreclosure ofjthe said consolidated mortgage, Mr. Moor-field Moor-field Storey and Mr. Frank Kellogg appearing ap-pearing and having been heard for the motion, and Mr. John M. Thurston appearing and having-been heard for the said five receivers, and Mr. Wins-low Wins-low S. Pierce appearing and having been heard for the trustees of the senior sen-ior mortgages now nnder foreclosure proceedings, and Mr. R. S. Hall appearing ap-pearing and having been heard for the Oregon Short Line & Utah Northern Railway company, Mr. E. P. S tnborn appearing and having been heard lor Oliver Ames, second, and Samuel Carr, present holder and representative of securities of the Oregon Short Line & Utah Northern Railway company, and Mr. P. L. Williams appearing and having hav-ing been heard for Mrs. D. C. Dunbar aad J. E. Clinton et ah, present holders hold-ers and representatives- of certain first mortgage bonds of the Utah Southern Railroad company and the Utah Railroad Rail-road extension, and other stocks and bonds of the consolidated company, and upon due consideration "It is ordered, adjudged and decreed that John M. Egan, of St. Paul, Minnesota, Min-nesota, and W. a. Bancroft, of Salt Lake city.Utah, be and they are hereby appointed by this court as receivers of -ill the railways and property so far as the same are Bituated or may hereafter be found within tbe territorial jurisdiction juris-diction of this court and comprised in the indenture of mortgage dated the first of August, 1889, and made between be-tween the Oregon Short Line & Utah Northern Railway company, on the one part, and the American Loan and Trust company - of the other part, and upon and during compliance with the conditions thereinafter stated, they are hereby authorized and directed to take and hold possession of and operate the railways and properties covered by the said mortgage, so far as the same may be situated or hereafter found to be within the territorial jurisdiction of this court, and take and use the supplies sup-plies and materials which have been distributed along tbe line of said railway rail-way for the use thereon by thereceiyers now in possession." The decision empowers Messrs. Egan and Bancroft as receivers to take possession pos-session of the property, upon payment by the trust company of the interest in default upon the debts secured by the first mortgages on all parts of the property and which amounts to about $l.fi00.C00 at this date. Said payment to be made on or before July 1, 1895. Until the payment by the American Lean and Trust company of thei-everal sums of interest stated to the five receivers re-ceivers who now have the property in charge the order is suspended. In the matter ot the issuance of receivers' re-ceivers' certificates the order is silent and the attorneys generally took it that this silence meant that authority to make the issue ws denied and that, therefore, the means by which the trust company hoped to raise the money to pay the defaulting interest wa3 withheld, Chief Justice Werrit, however,said,in talking with a reporter, that he had not prohibited the issuance issu-ance of receivers' certificates and intimated inti-mated that if application for authority to make the issue was now made he would grant it. The decision is generally looked upon as a victory for the Union Pacific and the trust company say emphatically they will not accept the Utah portion of the road, and as to whether they will take the other portions under tbe orders made by Judges Gilbert and Sanborn they can make no definite statement at present. |