Evening Republican, Volume 18, Number 56, Rensselaer, Jasper County, 6 March 1914 — BRIEFS TO BE FILED IN RAILROAD CASE [ARTICLE]

BRIEFS TO BE FILED IN RAILROAD CASE

Public Service Commission Is Considering—Ed. Oliver And Others Object To Sale ANOTHER OFFER IS MADE —: - -i—•—,—; 1 —.— e

T. S. Roberts, of the Interurban Project, Files Bid for the Road, Offering 10 Per Cent Increase Over the Bid of the Monon Railroad— Judge Considers the Offer and May Not Accept Owing to Desire to Get the Estate Settled—A Bit of History. While Executor George H. Gifford, of the estate of Benjamin J. Gifford, with Attorney Mos es Leopold, who has been Mr. Gifford’s attorney since the latter became executor, were in Indianapolis Thursday to try to secure the approval of the Public Service Commission to the sale of the Chicago & Wabash Valley railroad to the Monon railroad, the proposition of the Monon to buy was given a backset by a bid for the road made by T. S. Roberts, the president of the projected Indiana Northwestern Traction Co. The law requires that bids made in the settlement of estates must be based upon an advance of 10 per cent and Mr. Roberts met this requirement, advancing the Monon’s bid '59,500, and making the total offer for the railroad $104,500. He deposited a SI,OOO forfeiture, that being the same'amount which Attorney Harry Kurrie had deposited when the Monon made the $95,000 offer some ten days ago. Judge Hanley, who has the handling of the- matter of approval, is anxious to get the estate settled up and it is understood has been urging the executor to make a sale, and he gave his approval to the sale to the Monon, subject to the sanction of the Public Service Commission. He will probably look

into Mr. Roberts’ offer to ascertain the ability of the bidder to comply with the conditions of his bid, and if they are found adequate he will probably hold up the sale ,to the Monon z even though the Public Service Commission gives its consent. Attorney Emmet Laßue, from the office of Attorney John A. Dunlap, appeared before the Public Service Commission on behalf of the interests of his client, Regina Burris, who has filed suit for the entire Gifford estate. He opposed the sale of the road to the Monon railroad, alleging that there was no evidence of good faith on the part of the Monon to operate the railroad, and that failure to do so would depreciate the value of the land traversed by the Gifford road, much of which still remains the property of the estate. It was contended that the Gifford road ig a competing line with the Monon and that competition wbuld be destroyed if the Monon purchases the road. Attorney Laßue contended that as a matter of public policy it wtas not lawful for the commission to authorize the sale of the road to a line that traversed much the same territory'ana was a competitor of the proposed purchaser. Attorney Leopold and Executor Gifford showed that the Gifford railroad owns only four freight cars and one passenger car and that the great bulk of the business originating on the Gifford road is carried over/the Monon from McOoySburg and that the contention of competition is not sincere but produced for ulterior motives.

They found a remonstrance on file against the approval of the sale. The remonstrance was signed by Benjamin F. Tallmadge, Ed Oliver and George Clark. It set out the contention that competition would be destroyed if the Monon bought the road. It is understood that Tallmadge is a promoter and had been trying, with Oliver as an associate, to find a buyer for the road, and that he had tried to sell it to the Monon, but had been informed by Attorney Kurile that if the Monon wanted the road they would buy it direct and not through an agent, dark is also said to be an agent r .nd working for a commission. Some three weeks ago an offer made by Tallmadge was nivestigated by Judge Hanley and found not worthy of his consideration. The Attorneys were asked to furnish briefs to the Commission and the action on the sale will await the filing and consideration of these and in the meantime a sifting of the later complication, the offer made by Mr. Roberts.