The Sun.
London, England, 1837-10-10 00:00:00

(14,

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Mr. Case sulimitted that the question of value s-hould be
carried further.
Mr. Muira os'crved that he 11,1il proved .h .t the
enizant had 10 shares in the Company, on which 130/.
had been pa, ,2
The Court cons;j flick ercd that a prime case Lad
been made out.
Mr. Case then proceeded id read the circular from the
Company which had been put in evidence, and in which. it
was stated that the land actually leased produced hut 411.
per annum, and that the extent of the profits could not km
ascertained for another year. There was'also another curious
paragraph in the circular, which he would read, as it might
throw some light on this matter. Mr. Case then read—" The
directors have taken the precaution to register the sharehold-
ers as entitled to votes for the western division of the county
of Kent, a measure it is confidently believed of vast benefit
to the Company go'nerally, as well as to the shareholders in-
dividually ; and will no doubt, as soon as the claims arc
established, materially increase the value of the shares,
and extend the influence of the Company."—(Much laugh-
ter.), He would next call the attention of the Court to the
deed of settlement. The learned gentleman then read

copious extracts from the deed, showing that the property
should he deemed personal estate, and entirely at the dis-
posal of the trustees and directors. The Bth and 58th
clauses of the deed declared that all the estate was invested
in the trustees for the time being, and that it wee pur-
chased by them under the direction of the Board of D;;ec-
tors. The directors had the entire control over the shares,
and no other parties but them were to incur any liabilities
on account of the Company. They had also the power of
suspending any one of their own body, and calling a meet-
irg of the proprietors to have him removed. The 59th
and 60th clauses also gave the directors the power to make
bricks, to let or sell the land, and do as they should think fit.
Mr. Matthews—Yes, for the benefit of the Company,
you should read to the end of the clauses.
Mr. Case continued, that he would put in a deed, dated
the 4th of February, 1837, for the purpose of show-
ing that Harmer and Smith conveyed a portion of this pro-
perty absolutely as their freehold.
Mr. Miller—That I admit as broad]) as possible.
Mr. Case—What ! without reference being had to the
trusts at all ?

Mr. Miller—Of course ; that's the reason the deed
which was first read to the Court was made, investing Har-
row and Smith with secret trusts.-

Mr. Case then ierit to the principle, whether the claim-
ant was entitled to be upon the register as a freeholder.
After Mr. Miller had been heard in answer,
Mr. BOSANQUET said he should reserve his decision.
The case, as it will be seen, vitally affects joint-stock and
other Companies.
ROCHESTER, SATURDAY.—THE GRAVESEND AND MIL-
TON FREEHOLD INVESTMENT COMPANT.—This morning
Mr. BOSANQUET expressed his readiness to give his deci-
sion in this case, when the utmost anxiety was evinced by
those who are interested, not only in the Company, but
likewioin the representation of this division of the county.

The Learned Barrister said—l do not consider it neces-
sary for me to go through all the facts that have appeared
before me ; they are so very numerous, and many of them
extraneous to the subject. The two questions for my con-
sideration arc—first, what interest have the proprietors of
this Company in the estate ? and, secondly, what is the
value of that interest ? I take the shares at the value
of ss. each per annum—for, in fact, it will be found that a
dividend of 7s. on each share has been already paid ; but I
cannot value them at that sum, as something must be
thrown off as a profit derived from the capital used, and
not thrown from the land itself. lam of opinion that all
those who have eight shares are entitled to be upon the re-
gistry, and those that have a less number are not so entitled.

Air. Adlard's name was therefore retained.

The claim of William Major Wilson, of No. 54, Lom-
bard.street, London, was next gone into ; and it was proved
that he held ten shares in the Company, upon which he
had paid 121. 10s. on each.
Mr. Case said he must press the Court to go into all the
cases separately, in order that he might go further into the
q testion of the value of the estate.
Mr. BOSANQUET said he would not go further, Mr.
Wilson's name was on the Register. He was only bound
to inquire into his qualification. The time of the Court
could not be unnecessarily taken up, as there was a con-
siderable deal of business to do, and so many adjournments
had already been made, that it would require much exer-
tion to gt t through it by the 2-sth inst.
Forty-three claims were then allowed ; thirty-three
struck out for not having signed the deed of settlement ;
and twenty-five on the ground of holding less than eight shares.

(Before Mr. TYNDALL.
ST. JOHN'S CHAPEL ON THE SAME ESTATE.-Arthur
\Vilcoxon and the ❑ames of the other claimants in respect
of this estate, were after a length)' argument retained.