The Express.
London, England, 1854-01-13 00:00:00

ARUNDELL COPPER MINES IN ASHBURTON.

Yesterday a general meeting of the shareholdek
of this mine was bold at do adzes, New Bridge-street. Mr.
J. Iltratusa Intim Oho&
The Banantadt read the statement of accounts, which
showed a bares in web of 6311. 15e. 4d., from which the
'December costoebeet befog deducted, left a balance of 2001.
The CRAIIIIA. mid the Wei object of the meeting was
Ito consider what man *mild be made. He had a very
favourable 'pinks& edam undertaking, and every exertion
was now being made lly the erection of a steam engine, dtc.
in order thin it ailikt be properly opened. In addition to
tie saran alba emnria• as • mapper mine, the gold
gaselier seise eumeden yto Its intemt and imports ore ;
sod be was melds Mat when they got lower down than
thss were at promod, they would cut something good.
The BsCaITART On read several reports of Car. Drew,
the agent at the mime, as to the operations during the last
two months, Mating die preterit aspect and condition of the
mine. The miners had been unable to proceed with their
work, owing to the inclement weather and the late heavy
falls of MOM.
Capt. Daiew then, at the request of the meeting stated
that he expected the engine would be emoted in a few
weeks, when they could recommence the sinking of the
cla shaft. The had now reached 23 fathoms, and he
to rink further down to 30 or 34 fathoms,
end then make a esoes-cnt to the great lode. lie also re-
osaamended the matting of what appeared at present to be a
eastater lode bearing a large quantity of gossan, and
makielthe fourth lode or branch discovered during the
Milks CtialitMAX said the gamin was a very favourable
indication, and he had ao doubt there was • regular lade.
He advised them to am nosy ellort to open on the great
lode from the engine shit, which he thought should be
continued to 26 or 30 idler's, and he thought that under-
neath the mass Cl preati:yesieexpert to had copper.
Is reglg to Mr. Wearier, Dnew stated that his
=ter e. mine was favourable, and he be-
dry would seem have a meat protitable mine.
There was no question about the groat lode being 30 feet
I wide.
Mr. RirDa considered the course taken by the directors
fke the development of the property • correct one. and sug-
gerftd that experiments should be continued on the pro-
ducts of the mine.'
Mr. CASIT otioldered that as the mine was divided into
I 10,0001. shares, a sell of 2e. ed. per share, would be ample
for the next two months. They would pay for the steam
I engine, and probably enable the captain to complete 1
the shaft to the required depth for the aces-cut to the
lode.
Mr. BIM= WOOLYIBIL said he represented 5,000
stases, • half el the mine, and would prefer a call of 55.,
witieh would at ewe pledgee 2,6001. further capital.
Mr. Wail= *greed with Mr. Woolmer. Be thought
ears ea a large
_role druid be made, and if the company
would met liorialte it ke would himself purchase one of
Bertlaiels mailman mid allow the coompeny one-twentieth
et ihe prairie, if they allowed him the rest.
Ong*. Cleruwall, said he had lately visited
the mine, bat he bad a very high opinion of it,
it meld see be Is advantage until devekped by
the aloma-eogfek He orggested that a large quantity of
theram druid he brought to were, and by testing a
foie averts Jur geld the real mineral products of it
would be
The lama seed letters of Mr. Drew were then proved
end 0604 mid a Gall of 24. Bd. per she agreed upon.
The amodelne of management were then re-elected for two
months with the addition of Main. Brookes and Turner,
and the owl MN of thanks terminated the proceedings.

SPORTING.

TATTERSALL'B.-11tu86DAy.

A scanty ato;itia7mTwaad iiaainsa;;ary slack: Only the
following is ware laid:
GREAT METROPOLITAN STAKES.
26 to 1 art Mr. Howani's Virago (to 1001.)
CHESTER CUP.

30 to 1 apt gr. Howard's Virago (to a poay)
40 to 1 Mr. Parker's Aldford (to ditto)
40 to 1 Mr. A. Niels°ll's Newrainster (to ditto)
1000 to 15 Kr. J. Osborne's Browa Broady (laid 7
times)
1000 to 16 Mr. J. Osborse's Bridesmaid (do. do.)
1000 to 16 Coaat de Prado's Aquila (laid twice)
1000 to 16 Mr. Pares Trifle (t)
1200 to 100 Virago, Aldford, and Newminster (t)

Raw intellteence.

EQUITY COUItiS.—YEsTeaDAT.
MORA VICk-Ct(71,1.1.0111[111:11111,1.}T.
RICE V. RICE.-JUDGMCNT.

The Vice-Chancillor delivered judgment in this ease.
His Honour said the question for decision was whether the
equitable interest of the plaintiff in respect of a vendor'.
lien (or unpaid purchase-money was to be pn Peered to the
interest of the defendant as equitable mortgagee. The fame
of the case were these : the plaintiffs were owners of cer-
tain real estate. Iu October, 1852, they sold and conveyed
the estate to the defendant, Mr. Rice ; but, although a con-
veyance to him was executed, a portion of the purchase-
money remstutil unpaid. On the day after the execution of
the conveyance, lir. Rice deposited it, &hi the other
title deeds relating to the property, with the defen-
dant Eade, to secure a sum of money due tram
Rice to Eade. The contention was between
the vendor in rtispect of his unpaid purchase motley and the
equitable mortgagee, each claiming to have a first charge
upon the property. There was no doubt but that the
vendor had a claim upon the estate in respect of the sum
due to him, and that the equitable mortgagee also had a
claim; the only question was es to priority. The rule of
equity in respect to parties in this position was sometimes
expressed by the phrase, " qui prior est tempure, potior est
jure." This, however, wu an incorrect statement of the
rule, or at least a statement by no means uni-
versally true. The more correct statement would
be that where, in all other things, the equities
of the parties were equal the priority of time would
confer the better rigl.t. But in the case now under consi-
deration, the equities of the patties could cot be said to be
equal. The defendant, Eade, hod obtained pOsseuion of
the title deeds, and in many cases decided by Lord Eldon,
• the possession of title-deeds bad been held to give the
party baring them a priority of claim. In addition to this,
the plaintiff had acted in such a way as to preclude him
from claiming ageinst Eade. He had executed to the pur-
chaser an absolute conveyance, and had signed a receipt
upon that deed for the amount of the purchase money.
Eade was therefore perfectly justified in thiukang that be
r might wifely rely upon security of the deposit of the deeds,
and the judgment of the wart was therefore in his favour.