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On said bill of complaint, after hearing John M. Bowers, Esq., for complainant, and Abraham I. Elkus, Esq., and C. H. Williams, Esq., having been heard on behalf of certain bondholders and Ed. ward M. Shepard, Esq., having been heard, without appearing, on behalf of certain stockholders, and Robert Kernan, Esq., having appeared, but not opposing, on behalf of the defendant, Third Ave. nue Railroad Company, and Masten & Nichols, Esqs., having appeared, but not opposing, on behalf of the defendants Adrian H. Joline and Doug. las Robinson, as Receivers of the New York City Railway Company, and also as Receivers of the Metropolitan Street Railway Company, and J. Parker Kirlin, Esq., having appeared, but not opposing, on behalf of the Metropolitan Street Railway Company, and Byrne & ('utcheon, Esqs., Elihu Root, Jr., of Counsel, having appeared, but not opposing, on behalf of the defendants The Pennsylvania Steel ('ompany, and The Degnon Contracting Company, and Wintlırop & Stimson, Esqs., Bronson Winthrop, Esq., of Counsel, having appeared, but not opposing, on behalf of the defendant Morton Trust Company, as Trustee, as aforesaid, and notice of this application having been duly given to The Third Avenue Railroad Company, New York City Railway (Company, Adrian H. Joline and Douglas Robinson, as Receivers of the New York City Railway Company, Metropolitan Street Railway Company, Adrian H. Joline and Douglas Robinson, as Receivers of the Metropolitan Street Railway Company, The Pennsylvania Steel Company, The Degnon ('ontracting Company, and the Morton Trust Company, Trustee under Refunding Mortgage dated March 21st, 1902, made by the Metropolitan Street Railway ('ompany, it is

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ON MOTION of Jolin M. Bowers, Esq. Solicitor for Complainant,

ORDERED, ADJC DGED AND DECREED,

223 that Frederick W. Whitridge, Esq., of New York, be and he hereby is appointed under the bill of complaint in this cause, Receiver of all the railroads, properties and premises, real, personal and mixed, of whatscever kind and description and wheresoever situated, including all railroads owned, leased or operated by said defendant, The Third Avenue Railroad Company, all tracks, terminal facilities, offices, shops and all buildings and appurtenances of every kind, all cars and other rolling stock and equipment, tools, machinery, furniture, fixtures, materials and supplies, books of account, record,

224 and other books, papers and accounts, cash in bank, on deposit and in hand, money, debts, things in action, credits, deeds, leases, contracts, muniments of title, rents, issues and profits and income ac cruing and to accrue, as well as all interests, easements, privileges, franchises and assets of all and every kind mortgaged and pledged under the mortgage dated May 15th, 1900, made by the defendant, The Third Avenue Railroad Company, to the More ton Trust Company, as Trustee, and under which the complainant has been duly substituted and appointed and is now Trustee, and described in the bill of complaint in this cause, and of all the tolls, 225 earnings, income, rent, issues and profits of said railroad, property and premises; provided, however, that complainant shall be entitled to retain possession and exercise any powers appertaining to any stocks, bonds or securities pledged under such mortgage, the possession of which the complainant has or is entitled to thereunder; that said Receiver be and he hereby is authorized to run, manage and operate the said railroads and properties, to collect the rents, income, tolls, issues and profits of said railroads and property. to exercise the authority and franchises of said defendant, and discharge its

226 public duties, acting in all things subject to the

supervision of this Court, and shall have power to
borrow money in his judgment needful to pay cur-
rent necessities for labor and supplies and for no
other purpose, without the further order of this
Court.

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AND IT IS FURTHER ORDERED, ADJUDGED AND DECREED that the said Receiver be and he hereby is authorized in his discretion to employ and discharge and fix the compensation of all attorneys, managers, superintendents, agents

and employees, and to make such payments and dis227 bursements as may be needful and proper in so

doing, and to preserve and protect its railroad sys:
tem in proper condition and repair, and to protect
the title and possession, and that the said Receiver
be and he hereby is fully authorized and empowered
to institute and prosecute in his own name or in
the name of the said The Third Avenue Railroad
Company, all such suits as may be necessary in his
judgment for the proper protection of the trust
estate, and discharge of his trust, and likewise to
defend all actions instituted against him as De

ceiver, and also to appear in and continue or de228

fend any suits now pending in any Court to which
said defendant, The Third Avenue Railroad Coir-
pany, is a party, the continuation or defense of
which will, in the judgmet of said Receiver, be nec.
essary for the proper protection of the trust estate.

AND IT IS FURTHER ORDEREDADJUDGED AND DECREED that the said Receiver be and he is hereby authorized in his discretion, from time to time, out of the funds coming into his hands, to pay the expenses of operating the said properties and executing his trusts, and to make such repairs to said properties and premises as

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in his judgment may be necessary in order safely to conduct said operation under this order. And said Receiver is likewise authorized in his discretion, from time to time, out of the funds coming into his hands, to pay any prior lien or liens existing against the property that may come into his possession, or existing against any of the properties represented by the stocks, bonds or securities pledged under said mortgage, or the interest on any of such lien or liens.

The said Receiver is hereby required to open proper books or account, wherein shall be stated the earnings, expenses, receipts and disbursements of his said trust and preserve proper vouchers for all payments made by him on account thereof.

IT IS FURTHER ORDERED that the bond of the said Receiver in the sum of One hundred thousand Dollars, conditioned that he will well and truly perform the duties of his office and duly account for all moneys or properties which may come into his hands, and abide by and perform all things which he shall be directed to do, with sufficient sureties, to be approved by a Judge of this Court, be forthwith filed in the office of the Clerk of this Court.

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AND IT IS FURTHER ORDERED that all offirers, directors, agents and employees of the defendant, The Third Avenue Railroad ('ompany, be and they are and each of them is hereby required and commanded, upon demand of said Receiver, or his duly authorized agent, to turn over and deliver to said Receiver, or his duly constituted representative, any and all of the said property in their hands or under their control or the control of any of them.

AND IT IS FURTHER ORDERED that the Reveiver hereby appointed shall, with all reasonable

232 despatch, make and enter into such arrangements

for an operating force and for power and other administrative necessities as will enable him to conduct the operation of the said railroads and property with due regard to public convenience and without delays or interruption in the service; and when and as soon as such arrangements shall have been approved by the order of this Court, then the said Adrian H. Joline and Douglas Robipson, Receivers, shall, upon demand of the Receiver hereby appointed, turn over and deliver to said Receiver, or his duly constituted representa

tive, all the property in their hands or under their 233

control, mentioned and described in the bill of complaint herein, and shall, under the order and direc. tion of the Court, account to the Receiver hereby appointed for any and all moneys received by them from said properties from and after the date of the entry of this order, over and above the necessary expenses of their operation, which is without prejudice to any other accounting any party shall be entitled to demand.

And this Court reserves full jurisdiction to retake posession of the property through its Re

ceivers heretofore appointed, as in the bill of com234 plaint set forth, in the event that within three

months from January 1st, 1908, the entire rental under and pursuant to the provisions of the lease made by The Third Avenue Railroad Company to the Metropolitan Street Railway Company, dated April 13th, 1900, is paid; and likewise retains such jurisdiction for the purpose of adjusting any questions that may arise between the said Adrian H. Joline and Douglas Robinson, Receivers, and the said Frederick W. Whitridge by this order appointed Receiver, or for determining any question affecting either of said Receiverships, or for determining any question in any action now pend

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