Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-02-01

t9e lns ,hat il had never .eclifed DIVIDEND
lis debt was inc,casng' ana ~
| Of order. ,,umubt Inner 70. years with
further rem's., ockholiers-but greatly 10 the
injury of the Pcte|rnu ~. ,,.;n nr1ed on some
J 49, or 10 after tins, as"'" urs'a =" so ~
week Va : of the Petersburg company TO Duy tue
OF the frIcutonel Rochelle would have the road sod
buy it h''''''
rysbrs !, one year the additional receipts
tha;, road would be sufficient t. pay the purchase
nonav The truth Of this they ADMITTED, but refused,
- 80 - make the purchase | thought then, as
80, ,h,n there was false efficacy about the matter
~ il was evident that either company would IKE 10 SEE
| the other 60 down n, ,d he
;.'s,.rs,,,n. 70 that effect 1t was accordingly
| sa,,acd !, h. sold on the 9Th OF October 1915
pr,a tho day Of sale camn he insisted ihst siou''
bry him ont al ss pfce han that at wach ne "u'
offered il to the Petersburg company hlaue III, p"'
chas. on my own responsibility ana ." We nn,aro,
Sat nbsr wriilea articles Of agreement were ehe'e'
,,,o between us and conditioned III such manner u
10 reonre INN TO bid for the prnperty, until toiu h
10 sion and if he should be the purchaser, the 81
ners,rnc,ure was TO be taken up and removed u W
rysb,ro NJ his risk and expense whenever require
| We attended the sale, and between the hours OF =
and o'clock of that day, the Sheriff OF that co""',
who had as required by law, given ~ days holi'e y
the contemplated sale, placed himself on tue 'pa,
81 Offer for SALE for cash. all the right, title ana
roc, which the Portsmouth and Roanoke na'iloa ;,
f,omnonv have in and to that part OF ths loao WIZ.
il situated between Mergarelsv'lle ana Tue -,
bridge"-the distance between '"es0 pO'"'
| l6 miles c, onnonv was
Major Gwynp. the President of the company was
,aasot and no objection was made 10 the SAFE. Do
| Rochelle and Major Gwynn were tle pu"e'S u, t
Major went high $4,000 and Io,. nu.n ..nou
ING bid $40 00l, MAJOR Gwynn sau 70 a.e hon
| .t,Ih
manfred evil any other person bid NO o'"ei ~
h.nq made he SAID sill standing on the roao, o., :. .
pone-Col. Rochelle the road is yours al = tana m,
| am thus particular, because some nave sau -" -
The nossession Had the road and snpeIs''uctu'e 49,
al estate or course the sheriff could not nave pu'
any one in possession He could only make oeeu y.
The purchsssr which he has done ~ ln's cass' az"
the purchaser could not get the Possess'oh ~
on the land he mus, bring an electmeh' anu tlne
inter Judgment, u writ oil po5ssssio"-'' $50
| BY my counsel -, ourors
By the charter the fteehod is IN The org mar ." ~,
of ,I- lands through which The road runs ana tae 81
persruclure is declared to be- by the char'e''
estate. r Moth Ia
roins nave 317 The charter contains TINS language
uAll machines wagons: vehicles and carriages Pui
chased as aforesaid, and The WORKS constr ue'u
the authority of this act and all profits whch s"a ~.
crue from the same, shall be vested III Tue n
shareholders of the company forever, IN proPofon ~
their respective shares, and the same shaii oc
personal estate, and shall be exempt ''o"' '"' f
charge or tax whatever. .. :,
II will therefore, be seen from the ABOVE eAtao', "
ken from the charter of the company, that the egsa
,nre of yrpua said the supersiruc'ure OF Tins foao
..shoud be deemed personal estate; anu IN this OPP
MON. virginia was sustained by the legislature OF ~
CaronaSas it was enacted by The legislature OF tha
State.
Let US now examine this matter, and see 1t the law
is no, with me in every step have taken | presume
i, is conceded that Colonel Rochelle had right 10 sue
the company for failing to pay It's debts II 3d. tue
next inquiry is, can yon, upon judgment mus GUAM
ed issue ieri iaclos, and levy on the personal pro-
nar,y of corporation and legally sell IL 1t that he
d,souted look to Is! volume of Revised Statutes oil
North Carolina, page ll9, section D: eli any ludg-
ment at law or decree in equity snail De fefaereo
against any corporation, II shall b. lawful '"r .he
MIA ntitf or compainans in the suit, TO sue out ehe
distriagas or fer Jae'as' as ne may lh'hh Piopei
ard the said writs Of pIsTRlScAs or riERI rAciAs
NAV be levied as well on the current money as on
the goods chat,es lands and tenements OF the saio
corporation. -, :,
The above is an extract from the statutes OF North
Carolina on the subject OF corporations, and MS Virginia
is mere interested IN the road than North Carolina,
now present an from her code on the same SUB
iect: lf any judgment al law, or in chancery sha oe
rendered against any corporation, II shall De a"oi 'o
the plaintiff in the suit TO sue OUT ether oistfiheas
6er acas levar acas eegit, as he may think pro-
per; and the of fer facias and eleg may
be levied we'll the current money as on The good
and chattels of said corporation.
| have quoted from the stotutes of both States, IN
order that may be that the property OF this com
pany which was created by the joint acts OF the two
States, can be reached by law within the limits OF ei
ther the advised by my counsel IN reerenee
to the sale of the road in Northampton county. Inc
sale was made under the ieri facias execution re-
copnized by both States being proper to be used
against corporations that might prove delinquent IN me
payment of their debts So far as am informed, there
are few lawyers in Virginia North Carolina, having
any reputation, who could be prevailed on 10 give a
written opinion against the right of The sheriff to sell
the road and the right Of the purchaser TO remove Inc
supers!rucure.
Now. under this statement, had mt right to pur-
chsse-o il be true as consnded tor by the foF's-
mouth Company that under the sale the purchaser nc-
uured right Of property 1t - ADMITTED lhat the
sale took place under execution regularly sued on
and conducted by properly qualified clicer, the
road having previously been regularly advertised. Cah
then be true. aledged al such sale the purchaser
acquired rights of property II there be any 'h'ng
inherent in this corporation which exemps its property
from sale why did the State Of Virginia go through
the IDLE ceremony of taking mortgage upon NJ
Why take u mortgage if the mortgage could never be
closed p And why clHse the mortgage pufchaser
under it, could obtain right Of property? What would
there be to sell Or what TO buy, II under the sale no
rights accrued But suppose The State OF Virginia
were close her motgage on this road, by sale
would not the purchaser become entitled TO the IRON
and sup.rsiructure, and could he not remove IT. or
make any disposition Of it he pleased Unquestiona-
bly, he could-and if purchaser, under the mortgage
could thus exercise the rights of property what shs
restrain purchaser under execution buyipgt the unn-
numbered property of this same corporation, from the
exercise of similar rights.
Pending the spondencc. which will be seen be-
low went 10 Tie city of Baltimore, and communica
ted to the agent of the Bay Boa, Company, that had
bought the bridge and portion Of road alluded TO, and
that i, was my impression the Portsmouth Company
was SO embarrassed with debt thatt must so down,
less aid was given 10 it by other company. ltnr
thermoe enquired whether it would not be polite in
the Bay Company 10 contribute something, as They
were INNING in connection with each other
II has been said by some, That am The agent OF the
Petersburg Company Such not The fact; and If the
publication Of this correspondence should fa to con
vince such persons the contrary, ii viii be ns" 81
for to say upon The subject. But nany, losing
sight OF the questions involved, inquire what we're my
motives for lhs purchase? cannot think, that thl:
has properly any thing do with the matter in issue
Suffice II, acted as individual and not as an agent
for any company and regarded it as fair and legn
mate subject of srecuation-beleVing that If coulc
effect 10 satisfactory arrangement for the settlement
my claim, the iron and superstucture would very near
ly, if not quite, pay the purchase money will ado
further that the Petersburg Company have never paie
or advanced me dollar, nor they responsible fol