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Failures of merchants and manufacturers, stoppage of factories, diminished traffic on the railroads, railroad bankruptcies and receiverships, threw a multitude of laborers out of employment; and those fortunate enough to retain their jobs were less steadily employed, and were subject to reductions in wages. The state of railroad transportation was deplorable.
My pardner is young an' seems to like the idee of lettin' somebody else run his business, so I'm goin' to give him rein and let him amuse himself for a while with your dinky little writs an' receiverships. But don't go too far you can rob the Swedes, 'cause Swedes ain't entitled to have no money, an' some other crook would get it if you didn't, but don't play me an' Glenister fer Scandinavians.
He had worked in a law office which took receiverships by the score, and through managing bankrupt concerns by slow degrees he had made himself a financial surgeon. He had set up an office of his own and was doing splendidly. But he worked under fearful tension.
"There'll be temporary receiverships, of course," Daylight advised; "but they won't bother none or last long. What you must do immediately is to save everybody the men that have been letting their wages ride with me, all the creditors, and all the concerns that have stood by. There's the wad of land that New Jersey crowd has been dickering for.
So we in Lattimore, who a few weeks ago had been ready to sacrifice anything for the keeping of our good name; who by stealth justly foreclosed mortgages justly due, lest the world should wonder at their nonpayment; who so greatly had rejoiced in our own strength; who had felt that, surely, we who had wrought such wonders could not now fail: even we numbly came to regard receiverships and assignments as quite the thing to be expected.
There was a man appointed on that court less than a dozen years ago who swapped railroad receiverships like a tin peddler with his senator for his job, when he was on the circuit bench. And he was considerable of a judge in the bean country for a time. Just to verify my index, I asked Bemis about this judge.
Gates went into the study of each of these business concerns, and did the best he could with them. It has been our policy never to allow a company in which we had an interest to be thrown into the bankruptcy court if we could prevent it; for receiverships are very costly in many ways and often involve heavy sacrifices of genuine values.
In 1909 I got back $6.40, with a charge for $1.75 for law expenses. That shows the beauty of New York receiverships." It is hardly to be wondered at that Edison is rather frank and unsparing in some of his criticisms of shady modern business methods, and the mention of the following incident always provokes him to a fine scorn. "I had an interview with one of the wealthiest men in New York.
There is scarcely a railroad in the United States that has not been through one or more receiverships, due to the fact that the financial interests piled on load after load of securities until the structures grew topheavy and fell over. Then they got in on the receiverships, made money at the expense of gullible security holders, and started the same old pyramiding game all over again.
Conflicting Interest on Location Leavenworth, Pawnee and Western Chartered By Kansas Plans to Connect With the Union Pacific at the Hundredth Meridian Supplementary Charter 1864 San Diego Or Denver Construction Work Indian Troubles Receiverships Consolidation With the Union Pacific.
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