Democratic Sentinel, Volume 11, Number 29, Rensselaer, Jasper County, 19 August 1887 — Prospective Lawsuits. [ARTICLE]

Prospective Lawsuits.

The pecuniary loss arising from tie accident is simply enormous. Under the laws of Illinois the relatives of tuose killed in the disaster will, if they have any claim at all, deplete the treasury of the Toledo, Peor<a and Warsaw ot something like $350,000, and those injured would receive at least $‘250,000 more. It mignt be just as well, at this juncture, to recite some of the vicissitudes of the road as illustrating its condition. In . 18h0 it was leased to the Wabash, and when that road drifted in'o the hands of a receiver, the trustees for the holders of the first-mortgage bonds of the Toledo, Peoria and \V arsaw took possession of the road. Proceedings to foreclose this particular mortgage were had, and in October. 1880, the road was brought to sale. It was bought in for the benefit of the h Iders of the firstmortgage bonds. A new company was organized, which took possession July 1, lt.b7. The name of the road was for soma reason or other changed from the Toledo, Peoria and Warsaw Railroad Company to the Toledo, Peoria and Western Railway Company. The new corporation is realizing lrom SIO,OOO to $15,000 per month on the road. Should the corporation be held i uilty of negligence, and therefore at fault for the accident, the gentlemen who only six weeks ago bought in the property to save themselves will be confronted with claims aggregating little less than a million of dollars. Thiß, of course, simply means bankruptcy.