The Express.
London, England, 1850-12-20 00:00:00

ILO) Intelligence.

EQUITY COURTS.—YzermAy.
Derma rag Lam Mamma&
JIM= tr. TIM BUT AnoLtAW RAILWAY COMPANY.—
HZ PAWS Bowes —Jenowarr
Mr. Bolt concluded his reply on behalf of the jailismat
ineltior, whose petition has ban before the mart far lb.
MO bar days. The prayer of it, it may be ramembeirod
*ism our former repot* was that the receiver appointed is
lie mum might be mind to pay the petitioner's Judgment
debt ont tithe tolls, estates, and effects of the railway 111116. ,
posy, Ova which he was appoioted rteeives, ter thee lie
petidenee might be allowed te execute his wsieof I. ,
km the searmat of his judgment out of tie megmegrd Me
gempasy, whisk the sheriff of Norfolk had solleCet Mimi;
bat from the possemion of which hip ems removed by thri
order of the court, made at the end of bin term.
The Lltd Chancellor, at the close of the argissitat, said he
did not consider it necessary to delay his isthmoid, as from
the ample discussions which hod occupyed the curt for
al days he had sufficient time and opportunity to con-
sider the polets in disputa. HU lordship, alter reading the
statements in the petition, said it was contended on behalf of
the petitioner that the plaintiffs in the cause had been
entitled to the order for the receiver, and that if the court
had known all the circumstances It would not bare made the
orl r For the plaintiffs in the cause, on the other head, it
wu contended, as well on their behalf as on When of the
company and certain mortgagees sod bondholders who were
nude defendants. teat the order for the receiver was par,
fectly proper upon the facts of the case, and upon the hecon-
struction of the acts of parliament, the compan's
special set (the amalgsmat that
is,ion act) acd the pectoral set
called the Companies Clauses Consolidation Act. The order
for the receiver had been obtained on the plaintiffs
appleetion, and Hunted to by the company; and by that
melee, the petitioner's counsel say, that the real state of the
tarts had been kept from the knowledge of the court when
it made the order. The hill was filed by certain of the bond
creditors of the oompasy, la order to enforce payment of the
men' y which they had lent to the company, according to the
borrowing powers in their special seta, for the purpose of
making the line and carrying on the company's business ;
and a Itetith in that act (.be 33rd *action) was referred to
as ezprerely empowerii.g the appointment of a receiver for
the protection of martyr(' and bondholden. But it We.
not nee eery for him to go at any considerable lead* Mhe
the !sets of the esse. There were two points for had OW
'nitration, first, whether, noon the true construction of the
atetutes, the genera medium of the company (such as the
p-titioser) INTO postponed to the bond crediten ; rteoladly,
whether, if that was not the proper constructioa of the
statutes, the bead coeditors ought, upon the circumstances of
the rase, to have • prier tight to payment out of
the company's tolls and effects. By the 44..11 section of the
Companies Claris Coaroildstioa Act, it was enacted that
the obligees in the bonds ohmid proportionally, according to
the saiseet of the nor its fecund thereby, be entitled he le
paid out of the has, cc other property or effects of the otim.
pany, the sums la the hoods mistimed, without any pre.
torment one above &rather, by mason of priority of dam et
such Gina A preceding section (the 42nd) secured the
like right to payment to mortgagees out of the Same albliae
and oat of calls, without priority one shove another, by recess
of priority of date of their mortgegee. The wrestle% wee,
whether the 411th wade gave the bondholders a geaeral lies
on the tolls, or other property or effects of the company If
they were to be paid at ell the payment must be made out
of the tolls or other property cc effects of the company. That
warn not giving any lion on the tolls, de., in seclusion of
general creditor,. The 44'h Heins mast construed in
eoseezton with the 36th section of the same art, by
which it is masted that if any execution at law or
in be Wood against the property or effects
of the rumen', and if there could nut be found suffi-
cient whereon to bey such ex, entice, it might be Used
against shareholders to the greet of their shares In the an-
paid capital of the company ; and the 43rd section says that
no moodier shall, unless eapramly se provided, preclude the
*employ tram receiving and applying t the purposes of the
company any mills to be made iby tee company. The ttis
*action says, the ymymesta of the bondholders are to be sada
rat of the tells, Be. el the compeny. The clauses referred M
la the special act (32nd and 33rd) say they ere to have alien
on
them, sat eta these innate stand in loppneitiou to the
41th swim' of the regent act, which stye that the ptyminale
of the bondholders *hall be made tut of the tolls or other
property or effects of the eatripeay. There was in that eidtee
so restriction or limitation of any sort. The view his lord
ship took Of th••• various seetiens in the special and general
acts was, that the general creditors of the cow psny, those
which enabled the company to carry on their business from
day to day, were first, then the mongagew, and then the
bondholders, and the acts gave certain rights and
mediae to each claw. The bond creditor warn by
the 36th section, as his lordship coneeivi d, in the same
situroe sa the general creditor as to the remedy provided
by that amine. These acts of parties/at were a very
loosely wooled, that it was hardly safe to rely upon any one
elute of them. It 'poured to him that the clause giving
the remedy to the general creditors was wit quite condemn%
with what was provided by the other clauses. It could not
surely be intended to exclude or postpone the general
tostbton, creditor, for those earns which were memory to
sunny en the business of company. One of the remedies
✓un by the Cos ponies Clouts Act was by the appoint-
or-idol a receiver scantling to the 63d sad 64th 'tertian'.
Hie bed.hip read pusses Iron these sections, and said that
by the 334 section of the special act also a receiver was to be
appointed is the cues therein specified. but surely it could
not be tateaded to have two receiver,. The seta provided that
the general creditors might eon at law or in equity, but what
ices the use of that, if the receiver appointed for the
mortgage creditors oiler the and 54. b vitiate
which gave a short remedy, was to take all the property ? It
stfusrid to him to be the proper construction that there
could be but one receiver, who would be appointed under
the 33rd sac inn of the special act, according to the dine
Lions in the 43rd and 54th section, of the general act. The
proeietas of these for a reenter wen to be tilled up by
the appointment under the 33rd section of the epeeist act,
lad so ,t was time an this case. This last section was merely
• re enactment of the sections an the gec.ral act, er
•re enactment of the 33rd section of the special act. So,
oleo, the 36th section of the grunt art was the seine as the
32nd section of the special act. The effect attempted to be
gin. n to these chines on be half of the plaintiffs was not
maiatainable. His lordst ip, Vier reading the al clauses,
said he wan of opinion that ther order fur the receiver ought
not to have beea made, and he was satisfied that
It would not have been made if all the circus
stouts had boom before the court. He did not
mean to say that the plaintiffs and defendants were guilty
cf anything like freed-, in obtaining the rder. Than was
a race between several creditors, some proceedieg at law,
oaten in equity, and the company bad no time to 'deader
what course they should take, and in their hurry they took
the rash step of sweatier to this order. He was of opinion
that see order so obtained should not prevail in this case.
But it wu contended 'hat before he discharged the order,
be should require the judgment creditor to go before the
Mae .r to ha esamined, or to file a bill and brio' his case
tally beluga the court. Ho agreed that It was of great ire-
per/nuts to adhere to the setablielted rules of the court
generally, but he was not depertier from any rule of peso
taco in sayicir that he would ajudicate on this petitioner's
case without se examioation of him pro intwerse suo. In
filing a bill, such examination or bill would not bring before
the court any facts that had not been brought before it in
this long discussion ; and upon all the authorities he was
warranted is dismcsing with an emminatia or bill la this
ease. Hie lordahip mantincod, uses, other mesa, "Divas
e. Smith" (I Swenstos, 457), and Impringltua r. Short"
(3 Hare, 461), under the circumstances of this cam he was
satisfied that It was the duty of the court to decide the
question between the parties without furter delay. His
yedgmeat was that the execution creditor ought to be at
liberty to levy the amount of his debt on the Meta of lb.
company, his order would be to that effect; bat ha
thought the execution ought to be suspended, to give the
plaintiffs an opportanity of considerier whether they would
pay the deb. without execati.ii or appeal from his lord,
ship's judgment, it ton the matter into a special caw for
the opinion of enolier court.
After a conversation between his lordship and Mr. 801 l on
one aide, and Mr. Bothell on the other, it was settled that the
lista:Nut's writ tit execution be postponed for four mash",
and, at the sapitation of that time, the plaintiffs, If they
appealed to the House of Lords', should give sterility forth,
debt and coats, and interest to be paid if the judgment
should be allirmad as appall. The forts of the order use
to he settled gad spoken to et the lest fifties of the waft
IS Till MATRA or TIM BOATS or ESOLAND BSAZISO
, BL PARTS OOTAITSITS.—WINDINO Cr ACTS.
An appeal mottos to diathesis an ardor of the VIM
Cline/liar in this sage was opseed by Mr. Bolt, and at lie
Tieing of the mart at three o'clock was adjourind.

CIIIII.IITILUI HOLIDAY..

The Lord Chaa;ar ;aid, reartewerli 'ousel that be
would not it in west seat lloeday,es it wee sat, is wrier-
sto2d, the modem of bie prolamine to Felon taw &dale
to within s day or two of

COURT OF COMMON PLRAL—NUTOIDAY.
&Immo aT MN Pam AT OVILDII W.. —Burma Tax Char lon=
LAD • tirICIAL

Imo tr. NORTI Wser—saxliraZw.A7leompaary.—Acri

TO /SCOTIA PASIIIIIOIIIOII LTOOAOS.
This wait an nodes to reamer compensation in demon
for the loss of a portmanteau, being part of the plaintiff's
lugger. whilst travelling from the Breton station to Bit-
unagbas, by the negligence of the defendants. The de-
linoleum had pleaded tie general issue, denied the alleged
negligence., and also that the portmanteau bed net been
de veered into their are.

--ild;.tinTe•-niCi;saneil, with whom wee Mr. H. Hill,
stated that the plaintiff was formerly • opals is the 4th
Duggan*, sad heel served with his regiment Is Idle. Ho
returned to this scantly some yeses age, sad he Maid
beyond his furlough, mold 'out, 11110 S wkiek thus hs had
funded at Birmingham. tee plaintiff came up to town
scaly la December, 1849, and stayed •kw days New-
land's Coffee hems, Deuretreet, Bolin, which Diffes M left
en the latk of the rue man* to return to Birmingham.
He teak • cab to the Station, and the porter as the
(Ake-house put the porisnanuas is question end other
ankles into that vehicle. Oa miring at the stadia
lie Maw an taken aunt of by • Pio
whose ameba was 70, sad wu memo& late the
hugs hell or matibale, tam Wads pleas It wen sairequatly
tikes by another peseta to the toga ; sad the
and a large deal ism balsegled to the pidatiff lu bass
tpa as the root et the eamiegi in whin he seated
Ls Melt NM Maar Mims la with klis. Os the st=42l
of As WWI at Bisolosikoss Os jorissaatssa was Wools.
sad meld sewitere he haat • taw days after s free deism
was gimbal le the plsintiff le amble Ms to toms up to
lawn ad_ y
wits feopla Ghent it. Oa mists( as he
Zvi= Oran lasegaissi the bake, He. 70, and It
ii w~aMr Obit MIN kirk y henll•Viseft boa as& ea
ik *lsnot psirAst seal Ski /4011 wM hen