The Sun.
London, England, 1849-03-06 00:00:00

ROLLS' COURT.-(THIS DAY.)

PADWICK V. MATE.
The arguments in this cave, the facts of which are of
no intere.4 except to the parties concerned, occupied his
Lordship the Muster of the Rolls the whole day.

VICE-CHAN CERY.--(THIS DAY.)
(Before the VICE-CHANCELLOR of ENGLAND.)
DOBSON V. POWELL.
The arguments in this part-heard case were resumed,
and occupied the whole morning,
(Before the Vice-Chancellor KNIGHT BRUCE.)
CONSTABLE V. lIIRESIIIRE.
The arguments in this case, which involved a question
of conveyancing, occupied his Honour the whole day.
(Before the Vice-Chancellor WIGRAM.)
The Court after disposing of the case of Culsha v.
Cheese, which stood on the paper for,judgment on a point
of practice, proceeded to hear the further arguments In
the plrt- heard case of
BAGSHAW V. THE EASTERN UNION RAILWAY COMPANY.
The case came before the Court yesterday, upon a
demurrer put in by the defendants to the plaintiff's bill.

The plaintiff is one of the Members for the borough of
Harwieh, find by his bill h. st f Oa' !::a an .Art oss,ed
to the 10th and 11th of Victoti; , the Eastern Unioa
Railway Company, of which the defensfints wer,• the
directors, was empowered to carry a line from Msni
tree to Harwich, and for that purpose to raise a 5.,.1,11 of
200,000(. in addition to the capital of the eeoii.snv, feat
by another Act eassed in the same sessien of l'a,liarrient
the campsny was ainhoriscil :o purchase 311 r rail y
cane.) the " Eastsrn Union and Hadlei,ghJuncti .n Rail-
way," and for ihr.t object to make a further addition of
100,000/. to their capital. The bill then stated that at a
meeting of shareholders of the company, held on the
21st August, 1847, it had been resolved unanimously
that for the purpose of constructing the branch line
from Manningtiee to Harwich, and for purchasing the
Hadleigh Railway under the two Acts obtained in the
then last session of Parliament, the directors should be
empowered to raise the respective sums authorised to be
raised by those Acts, and to grant scrip receipts for such
amount as might from time to time be paid up in respect
of those sums, until each subscriber should have paid up
his instalment in full, when he was to be entitled to be-
come a registered shareholder in a new Eavern Union
stock for the amount he should have subscribed,
and to a guaranteed dividend thereon of six per cent.
per annum in perpetuity, with the option of con-
verting such guaranteed stock within the period
of five years into the general stock of the company.
The bill, which was fi!ed by the plaintiff as the holder
of stock, arising from the conversion under the above
resolution of new guaranteed stock into general stock,
on behalf of himself and all other shareholders, except
the defendants, holding the same description of stock,
complained that the defendants were misappl)ing the
fund which had been raised under the powers of the
Manning,tree and Hadleigh Acts, by expending it fur
the general objects of the company, without regard to
the specific objects for which it was authorised to be
raised. The bid prayed an account of the moneys which
the defendants had received under the two last-men
tinned Acts, and of the applications of such moneys; and
if it should appear that such money had been applied to
purposes other than those specified in such Acts, then
that the defendants might be declared to have been
guilty of a breach of trust, and be decreed personally tip
replace the sums so misapplied to the credit of the com-
pany. The bill also sought an injunction to restrain
the defendants from any further misapplication of the
same funds.

To this bill the defendants put in a general demurrer.
Mr. WOOD, with whom was Mr. DANIELS, on behab
of the d. f. ndants, contended yesterday, that by the
effect of the Acts of Parliaments, under the powers o!
which the funds in question bad been raised, and the
resolution for carrying such powers into effect, the de
rendants were entitled to apply such funds to the general
purposes of the company. The bill, moreover, showed
that the phiintiff and the stockholders, on whose lathal!
he sued, were members of a corporation, and that to!
anything appearing on the face of the bill, the corpora-
tion, as a body, had confirmed the acts complained of.
The SOLICITOR. GENERAL, on behalf of the plaintiff.
and against the demurrer, submitted that the power,
given by the Acts in question were intended only to be
exercised ier the special objects mentioned in those Acts.
and that any application of the tunas raised therauuder.
otherwise than in furtherance of those objects, was a
breach of trust.

The further arguments occupied the Court the whole
morning.

BANKRUPTCY.-(THIS DAY.)
(Before Mr. Commissioner FAKE )
IN RE RUGHESDON AND MACKAY.
These bankrupts, described as of Calcutta, merchants,
came up to-day to pass their last examination.
Mr. COOKE, for one of the assignees, objected to the
balance sheet on the ground that the balance-sheet did
not set forth the capital or profits, and that on the face
of it there was a sum of 40,0001. unaccounted for.
Mr. LAWRENCE said that Mr. Banks, the accountant,
had adopted the schedule filed by the bankrupt Hughes-
don in Calcutta, on his passing through the Insolvent
Court there, but supplemental accounts had also been
filed, and Mr. Whitmore, the official assignee, considered
they were the best which could be made up, as the books
were detained in the Insolvent Court of Calcutta.
Mr. COOKE contended that, whatever the Court of
Calcutta might have chosen to have done in passing an
insolvent on a schedule with so largo a sum unaccounted
for, the bankrupts having become subject to the bank•
rupts' law in England, they were bound to comply with
the requirements of that law.

Mr. -Roxnunou (for the assignees in Calcutta) said
there was a discrepancy between the schedule in Cal-
cutta and that now filed, the debts being in the former
120,0004, and in the latter 97,776/.
After a long desultory discussion, his HONOUR held
that as the creditors were not satisfied, and a question
might arise at the certificate meeting, he considered an
adjournment ought to take place for a further investiga-
tion of the accounts.