The Express.
London, England, 1859-03-24 00:00:00

LAW INTELLIGSNCE.

SIDS DAT.)

EQUITY COURT.
(Leto* Tke-Chamodlor Sir R. T. Matlan& iy.)
N7W :Pkt ••WICk AND CANADA RAILWAY AND LAND
COIF ANY T. AITOORRIDOI.IDITORTANT TO ORARI•
ROI PLS..

The Vice-Chamellor delivered judgment in this moo. He
said the bill Was tiled by a joint-stock company against Mr.
%V ilium liuggetidge, and it prayed for &specific performance
of an allot e I agreement to take 250 shares in the company.
The -inpany sue formed m July, 1858, for the purpose of
taking a transfer .4 the rights, privilege., and liabilities of
the St. Andhs's sal Quebec Hallway Company. The pro-
posed capital of the company was 800,0001., in 201. shares
According to the articles of association, the appli-
cm', fee shares were required to pay a de-
posit ef 2f. a share on making the application.
Ihtendant applied for 300 shares, his applies-

lira bang ie the following terms Having mid hits
the Bank of London the sum of 0001., 1 request you wfil
allot me 100 shams of class A, and 200 shams of elms B, In
th. +aid undertaking; end I hereby agree to accept such
'hares, or any 1e.,1 number that may be allotted to me, and
t,. pay the future calk thereon." The shams at that time
commanded a premium in the stock exchange, and many
more were applied for than the total number to be allotted.
The number allotted to the defendant was 60 of due A, and
200 of Class B, and 100/. of the deposit mosey woe returned
to hito. On the 14th of August following, the secretary of
the company Mat to the defendants ropy of the merooren•
dum of emoclution, and requested him to sign and to
Muni It, but he sedated to do so. At a subse-
quent meeting of the company, the seal of the com-
pany we attached to the register of shareholders

:L. :b included the defendant's neeTse for 260 shares. A
dividend was declared, end tho secretary again sent the
articles of seeoclation to the; ddendent, with a request that
be wanl.l sign and return then, and the dividend warrants
w,ald then ba rut to him. Defendant, however, did not

sign the articles. In November, 1867, •bother call of 21.
wee made, and as Mr. Muggeridge did not pay, an Action
was brought matted him to recover the amount. A verdict
we. taken for the plaintiff, subject to • special ease. The
cam wee then argued before the full Court of Bachman,
sal the coat decided that the defendant had not accepted
the shrew, and consequently defeadant wee not liable.
Thereupon the platen& filed the present bill, praying for •
eget& perforeranis of the &grommet to accept shame, the
alleged agreement being the application for other,'
above stated. By the Joint Stock Companies Act of
11366, it 14as provided that if there were no
elides of emaciation of a company, a certain form
of regulation In schedule B of that act should Wand
la their plies. This regulation stated "that no person
shall he deemed to have accepted abates unless he he eigni-
Bed the seeeptence thereof by writing under hie hand."
Tow the plat to this bill was that the defendant did not tes-
tify hie acceptance of shares of the company
by writing under his hand, He conceived that
that was no answer to the bill. The bill asked for riptide
c, of an agreement, and the plea wee that the
efendant lied not performed it. The argument, however,
we. not founded on the pies. but on the merits of the case,
end ha would, therefore, state hi. opinion on the merits, In
his opent Mr. bluggeridge, by the terms of his application
for an allotment. distinctly agreed to accept such ahem
The neat question wee—war this au agreement which
that c.•ort ought to rpeciecally perform. It was agreed that
this was a teas of a p•rtaereheq and that the court would not
decree specific performance of an agreement to become •
rennet, inseam: a, if there was no term fmieg the
duration of the partnership, the defendant might the
mat moment put an end to It, and the decree would
therefore be nugatory. This however, was not
the care of an ordinary partnership. A shareholder in a
joint stock company could act withdraw from the company
in the way Mae a purser in an ordinary parteseehip could
withdraw from the pertnetship. All be could do was to
tran.fer hie shorn some other person, end • decree for a
specter perforeanee in theme therefore wool not be nuga-
tory, but would c infer a s•bseentiel imnett as the company.
Hs thought, that, fore, that this wee • awe in which the
court -le.ald di irre *pride perforemmee. If the vale, of the
slums instead of billing in the market, had risen, and the
company bed hewn to ley to Mr. Maggeridge, "You shall
not bare the share, we had allotted to you," there
we no:doubt that Mr. Idugesridge would have had
kis remedy span*. 'bens, and that he could bare
enforced He had now, however,

naeili to deride ;:tit;;tue.4l;7 of tie ItToriSt be
ortr-ruled sod the defendant court poy the oasts, sad defter
the opinion he bad .coremied, .14etersat chose to proceed
with the sue, he 5h.111.1 know what the decision cd the court
would be.

Mr. tdome—Yuur Honour will allow us sa weeks to put

N 1

INSOLVENT DEBTORS COURT.

IN RI lIKNILT FAILCI! OP • NNW

TUKI MCI( lIANT.

This limolevet, who bad been a merchant in sn extensive I .
way of besieges at Now York, applied to ha diechargsd on
motif. till his adjourned bearing in three =albs* time
bathe Mr. Commiatoner Murphy.
Mr. &wood appeared en the part of Marro. Gritarod ;
and Mr. Nichol.. aupp...rted the appllcatice for baiL
The ft... wee before the court for besting on Satarday, and
ca heirs; adjourned, the protect application was made. The
nee peseented mine remarkable features. The debts exceeded
30,000!., sad the iniolveet stetci on his proceeding. that he
bee S.OOOl. owing to him, but could give no account, having
made ea sesigegYlnt to coeditor.,i mid by the American law, if
be interfered in crying an accouat, should render the deed
"null and void.- He mei his fallure arms in coneepenco
of the poi, in America. He unfortunately con-
hated too I. mg in butane, sad bad to pay
large Interest for wary. The consignment wee to
pay two " peeferential credltork" which wee said to be •
comma practice in America. The Ineslvent had kola en
mated on a copies as about to leave Engird, and ties pee
titk•nad the mart. He declared fiat be bed no intention to
leave the orsatry, sad ,or now a buyer to an Amides'
benne, and was sextons to get out on bail. On the port of
the e r.ditor hotter accounts were required before the cam
could to fully heard.
lir. Stiferol ca.uoited the peopled bad. They wen
nearly @imager. e. the insolvent, sad came *wwsrd to env.
bins. Ity pareni,aen of Mr. Conernieelosar Murphy, ball in
2801. was considered ti be sufidant.
The learned Commi.eioner will lathed with the proposed
bail. sad the discharge was ordered WI the adjourned bearing
la three month..

SURREY SESSIONS.
(THIS DAY.)

The March adysrord .rebut for the cesatyef SWIM
etrancenoeM this mortis; at the Beesion-bast, If whew-
cameway, before J. E. inhumes, Esq., chokers. Threat
Van, Esq , deputy-ebairmsa, and a bra ef arsieratee.
The calendar contains the sautes of 44 pores few hial, 41
for felony, sad three far seirmserter. The altekrea la
his address to the grad jury, said that allay aware. to be
the usual number of palms for trlel at this tree of the
year, as the preemie sesetims was a amend gaol delivery
prior to the ammisma far the comity, which will take place ca
Monday. lie briedy leetructed the grand jury ea to the
eaten of their duties, sad dismissed them to their room

THE POLICE COURTS.
(THIS DAY.)

MANSION-HOUSE.

• ?All OF JOYIIILI PICRPOI OLT/.
fele relksr and Jain Lambert, 16 and 17, were charged
with picking the pocket of Mary Livingersors, a female re-
sifts in the reentry.
It appeared from the evidence that Police-ccsotable Mon-
ts, 564. iiirr the Macaws dodrieg about in
llrseerherchestruet, and knowing their characters,
he wee thawed to watch them. He saw them
ammo the pocket', of several perms, and finally
the pocket of the proserutris. Lambert put hie hand
is and took eat a handkerchief, Walter standing behind and
analog him. Monroe Immediately &wand Latutret, cud
sonde s snatch of Walker, who, however, managed to
esespe, Wavier Ms rap in the heads a the officer. I
The handkerchief was taken from Lambert. and r
found to contain 1/. 14s. tied op is COI of theoriser*. Hs was
conveyed to the sestina and locked up, much to hie diatom-
lat. This townie( Monger proceeded on a 'bus to the tart
he knew Walk, to inhibit. While promediag along
B6ufbersrli b.. row the prisoner Walker is menmay with I
se‘eral other thieve, As epos as he NM UM (the'
officer) be 6.4 to hie heels. Monger dismounted
from the Mils, but thy pm.mcr dimppeared, and was subse-
quently coptuted inChespaide, sad conducted to the station,
i when be was again strAueed to his long hot fried 1.4132.
hat. Wbeo brought up before the Loed Mayer, he domed
all knowledge of the (Aber primmer, bat an officer in court
slipped forward sad proved they were sausciates, and had
both bees previously convicted.
Thos po.aoestris mid she did not know of her Loos mai
the offic.r had informed her of it She had mare to Lewin
to tee her daughter, and the ii. 14.. 6d. wee all the width
she_ posseewl.
The Lied Mayor told her to tabs mons esee of heir peekets
the neve tone stir came In Loud..., and said ft was fortunate
tor her that she had got kw mossy hath. Wlth regard to
the primmer, he mad they ee.ntal to be two lacerrigible
year theme, and re their forma panishiseste seemed to
hare no filet upon them, he shonkl seed them he three
months.