The Press. — London, England, 1855-10-06 00:00:00

OqtoliNp 6, 1855. One point, kowever, still fewains in dis pute, and it is, whether when a trust fund has been paid into court, in which fund several remainderships have been created, and the tenant for life applies to the court for the dividends, the costs of such application should come out of the corpus of the fund or out of the interest of the tenant making the appli cation. In the cases of Ex parte Fletcher and Ex parte Pegit, Vice-Chancellor Knivht Truce, who with some eccentricity has a mind essentially equitable, refused to charge the capital of the fund with the costs of the appli cation, and directed them to be paid out of the dividend. A like decision was made by Vice- Chancellor Wigram in the case In re (Jaffee. In the case of Staples' Settlement, where the ques tion arose whether the costs of application for dividend should be paid out of the corpus or out of the dividend, Vice-Chancellor Shadwell decided that they should be taken from the oorpus ; while iu the analogous case of Lorimer, Lord Langdale ordered the costs to come out of the dividend. One of the most important cases is that of Ross's Trust, in which, after a lengthened argument, Lord Cranworth, while Vice-Chancellor, decided that the costs of an application for dividend by a life-tenant should be borne by the corpus. This decision was followed in other cases; but, on the other hand, Vice-Chancellor liindersley has distinctly laid it down as his principle of action that the costs of applica tion must be charged on the dividend of the person claiming. He had, he said, conferred with the judges on this subject, but without being able to secure unanimity of opinion, and, therefore, was compelled to act on his own judgment : I do not think it fair or just that the remaindermen should bear the costs of the applications by the tenants for life. Suppose there were half a dozen tenants for life, are the remaindermen to bear the costs of all the applica tions by these parties? In my opinion the tenant for life ought to bear the costs of administering the fund so far as he is concerned, and the remaindermen so far as they are concerned. Vice-Chancellor Kindersley went on to show that the analogy attempted to be drawn between the costs of an administration fund and the costs in such a case as this was not a correct one, inasmuch as the costs of an ad ministration suit were necessary to the fund being realised and determined, resembling in that respect the costs necessary for paying the fund into court under the Trustees Relief Act, and, affecting the corpus, ought properly to be paid from the corpus, whereas the costs of applications relating to the distribution of the income of the fund, as they concerned in come, should be paid out of income. So far as the equitable principle is con cerned it would be impossible to contravene this decision, but Mr. Darling adduces many arguthents to show that in practice the costs of application for obtaining income ought to come from the capital fund, his reasoning being based mainly on what would have been the practice had this statute not been passed. We recognise the acuteness of his argument, but we think at the same time that it is tinged by special pleading, and that it overlooks that fundamental equity and primary reason which should influence the judgments of the Court of Chancery when it has, as in this in stance, to establish precedents and make rules of law. It must be held that a testator or devisor, in creating remainderships in a fund, intends the fund itself to remain intact, and that the expenses of management, unless otherwise expressed, should be borne by income. This is a rule of general applicability in all affairs of life, and should be held as true of a fund consisting of money-securities as of a real estate. Supposing the income of a freehold estate to be left with several remainderships, it surely ould not be held that the costs of management under each successive tenant should be defrayed by sale of portions of the estate, yet this is substantially the principle contended for by Mr. Darling. It might hap pen that in the case of a trust fund, with several remainderships, a considerable portion of the principal would be sunk in the costs of the successive tenants, so that little of the corpus would be left to the person to whom the whole was intended to descend. The costs of aprication mipt form a lies./ PRE tax upon the life•tenant claiming income, but it would be better that this species of injustice (if it can so be considered) should be sus tained, than that the fund should be in course of continued diminution. We think the deci sion of Vice-Chancellor Kindersley incontest ably sound, and that the interest of each tenant for life must, as an equitable principle, be diminished to the extent necessary for assigning to that tenant the income claimed. It is, at the same time, obvious that great injustice is perpetrated by suffering the ques• tion to remain open, us in every case that arises there must be some additional expense to settle the question of costs when the ques tion of claim is determined. It is desirable that the proceedings in the matter of claims should be simplified as far as possible, as the costs at present are a serious charge upon small or moderate funds. The act must afford strong inducements to trustees to free themselves from their re sponsibility by paying their funds into court, and in some cases the greater security afforded by Chancery administration may be taken as a '3 et-off to the unavoidable expenses of its management. Yet, as a general rule, we think that the disposition to throw property into Chancery should be avoided. In most cases it may be more conveniently and less expensively managed by private trustees, and the protection of the court should be liberally accorded to them when it is plain that they have acted in a bona-fide conscientious manner. An Appendix to Mr. Darling's treatise con tains the Trustee Relief Act, the Act for the Further Relief of Trustees, with the General Orders and the Forms of Proceedings. The book is therefore comprehensive, and in every point complete. PERIODICAL LITERATURE. Blackwood opens with a lively reminiscence of " North and the ' Noctes,'" carrying you back to the days when "Pam was young as well as gay," when. the Whigs were acquiring instead of losing eonfi dence in Lord John, when Wordsworth's reputa tion was still a matter of dispute, and the authorship of Scott's novels still a profound mystery. The life, deeds, and death of Wilson are noticed, and not the least remarkable fact connected with the notice is, that it is dated from the Sebastopol camp ! This may possibly give to our readers some clue to the gallant author. The romance of " Zaidee " is con. tinned, and reveals an intricate plot cleverly sketched; while " Modern Light Literature" reviews Dr. Doran's and Miss Strickland's historical works, and glances at Leigh Hunt's " Court Suburb," with which Maga is not well pleased, and hits off Mr. Hunt's peculiarities very cleverly : Mr. Leigh Hunt goes over this favored quarter with affectionate garrulity; and we confess we will look with more interest hereafter upon the prosaic streets and terraces which never had any history to our dull eyes before. But why should our old friend labour to spoil his pleasant volumes with his own dogmas—he who is so in tolerant of other people's, and snubs so peremptorily men bearing names even more honoured than his own? Preach charity by all means ; but ye who fly your arrows per petually at the good people whom it pleases you to call saints, and whom, perhaps, you name more appropriately than you have any intention of doing, does it never occur to you that, of all censorious commentators, yonrselves are the least charitable, the most intolerant, and show the most impertinent determination to thrust your opinions in at all unsuitable places, whether your audience choose it or no? We remember the name of Leigh Hunt from of old with the kindliest sentiments ; his very twaddle, which was more sentimental in those day+, charmed our youth, and we never wearied of him while he babbled of green fields. Even now we cannot lift our hand unkindly upon our ancient favorite; but ',that Scottish flesh and blood could tamely submit to this? - - - - - We know not what assured evils would have retuilted to Scot land had Mary and her maids of honour been suffered to dance and play their guitars in peace; but it Is certain that Juhu Roux was the founder of whiskey- hope. Now, will anybody tell us the use or advantage of this stupid piece of impertinence ? John Knox had as little to do with Kensington as we have, who never saw the fading glories of Holland-house; and though we know very well what an old man's dogma is, and can smile at the " it is cer tain " which even a domestic circle is not always very tole rant of, we are irritated, in spite of ourselves, at so foolish and causeless an interruption of the pleasant strain of talk, in the midst of which this and Other bite of ignorant assump tion—all aimed at the unfortunate saints, whom so many witlings shoot at—find a place. " BockA for the Holidays " is an entertaining sketch of books upon fishing, while "The Old Contributor" adds some most amusing pages on seaside life. The only paper of a political tone is the second van Qf " Tile Baltic ip r," ip 171iich t if late attack 95 - on Sweaborg is briefly reviewed and its real results accurately summed up : The brilliant delusion which seized the minds of the people of England, moving even the dull hearts of the men of Manchester with a spasm of triumph, that " Sweaborg was no inure," has doubtless passed away ; those who were loud in their ixeans, and saw in imag,na tion the fortress lying in ruin and annihilation beftire them, have doubtless returned to reason, and men will be ready to receive a calm and dispassionate comment on the event as it really was—on its real issue and importance. Mili tary exploits can never be fairly judged by extravagant ex pectations, by probabilities or theories, or what might hate been done, but by a comparison betwixt the design or puts pose with which they were undertaken, and their fulfilment of it. The admirals assert " that the operations contem plated by them were limited to such destruction of the fortress and arsenals as could be accomplished by means of mortars." As such the operations were eminently suc cessful—successful as punishment and warning to the enemy—as an experiment for ourselves. The enemy had been scared out of the belief of his invulnerability, had been attacked at all points, assailed with every kind of missile ; had seen his men falling around him, his mate rial consumed, and had felt his powerlessness to defend or retaliate; he had been compelled to withdraw the three decker, a part of his defences, and had been left at last with a naked fortress, a mere shell, gutted and cleared of all its habitations and arsenals. This was certainly ample fulfilment of the design. _ ' We do not quarrel with the design. No doubt it was good as tar as it went, but did it not fail in going no farther ? In war it is the very essence of success to push an advantage, trifling or great, to its utmost limit. "It boots not," says the reviewer, "now to " argue whether or not more might have been done." Thi, conclusion is not satisfactory, as it is on the very point whether or not more might have been done that our judgment of the capacity of the admiral must depend, and our opinion as to the expediency of future operations. When the Russian line-ol battle ship was withdraNn in a sinking state, and the passage left open, there was undeniably an opportunity for a bold dash, by which the batteries taken in reverse might have been destroyed and the army and town threatened with annihilation. " There are three things," says the Arab (to borrow the proverb), " which can never be reclaimed—the " spoken word, the sped arrow, and the lost oppor " tunity." In concluding his remarks the reviewer considers that 1854 was the year "of reconnaissance," 1855 the year "of experiment," and 1850 should be the year of great deeds and great results. It will have the wisdom and experience gathered in the former ones, and should garner their fruits. The success which was once offered to opportunity, must now be won by force and daring. With added strength we shall meet added resistance. Yet still the hope is strong within us, if the nation be true to itself, and send forth an armament equal to the service, that Sweaborg will be ours, and that the scene of conflagrations, explosions, crippled ships, and blackened ruins which we have just been rejoicing over, will be enacted anew at Cronstadt with more terribleness, and attended with fuller triumph. - - With a divided Ministry, and with sir Charles Wood as First Lord, we much doubt it. " The Story of the Campaign " is continued and brought down to the day before that of the assault. In the closing para graph of this communication we understand and can appreciate the emphatic opening sentence, but the other passages are somewhat obscure and bom bastic : For the sake of all the powers engaged, and of the world, it is to be hoped that, whenever Sebastopol falls, Eussis will see the necessity of concluding peace. But if glory be worth fighting for, it is scarcely to be desired that the war should soon terminate, while the idea of England's military deficiencies, so strongly impressed of late on the mind of Europe, is yet undiapelled by an adequate exhibition of her real power. Through the clouds of gossip, twaddle, lamentation, and foreboding, which form part of the con ditions of our national existence, the fact will at length be come lustrously apparent, that the nation which forty years ago found itself, at the termination of a long war, not only unrivalled by sea, but possessed of as complete and formidable an army as any country of Europe, has, since then, with her advances in wealth, science, and the arts of peace, grown also in military resources in greater proportion than her neighbours. With each successive year her preponderance will increase till, at her full develop ment, attained not without distraction, sacrifice, and in ternal disquietude, she shall wield a power capable of it U ing the world's convulsions, and of securing for herself at once pre-eminence and peace. Fraser opens with a review of the " Noctes Ambro sial-Iw," which it considers fortunate were not revised by Wilson himself, as he would have been continually tempted " to leave out whatever his calmer judgment " might disapprove, to the great risk of destroying " the life, the freshness, the hold energy, the careless " candour which are among their chief character istics and attractions," and hence the reviewer ap proves of those "old assaults" upon Hunt and Hazlitt, &c., being published, on the plea that it is well worth while to know the opinion of such a man as Wilson, upon the literature, politics, public Cha racters, and passing events of his time. "Studies from Belgium "introduces a pleasant historical sketch of Mechlin, while the story of " Ilinchbrook " is brought to an abrupt conclusion after the manner of a youth's first trageq—suddepdes ll 41t s vreimkuoirs