Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1845-10-17
Raleigh and Castor Rail Road.-A,A. .

Raleigh and Gnston Rail Rond.-Atth.
. 1pril Term Of the Superior Court for W,ns
County the Attorney General moved for juar'
menu pro c0nfesse. under the act passed 4, q.
last session. In relation to the Raj. g. CASTE,
Road, against said Road, but was met by thu
counsel for the Road with the defence ,hs.
I process had not been properly served. and that
therefore the Road was not in Court. His
/ Honor Judge Dick, then presiding, ruled in
favor OF the defendant. wherenpon the Attor-
ney General appealed TO the Snpreme Court
upon this point; and that Court, at its late
Term decided that the Road sCas in the Supe-
rlor Court, and that Judgment pro confessO
ought TO have been entered for the State, the
defendant having failed 10 answer within the
three FIRST days Of the ierms
The case again came op last week Ia our
Superior Court, and was decided BY his honor
Judge Settle. On Thursday the matter wac
opened by the Attorney General and Cover
nor IredeIl for the State, and they were met
on the other side by Mr.. Badger fofthe North
Carolina Stockholders generally. and By Tho.
mas Bragg, Jr., Esq. Of Northampton. for
the Virginia Stockholders and a small portion
of the North Carolina Stockholders. Upon
closure of the Mo5tgages, Judge Settle obser-
sired to bring the matter TO a close thas he
felt it his duty 10 carry ont the Legislative
will, and would do 50, not, however, wiibou,
strict reference to the rights and interests of
the Stockholders; that the technical RICH, 10
put in an answer had passed from the defen.
dant. and depended now solely on rive discra-
ton OF the Court; and that he world yeceiye
no answer which did not admit The main State
ments in complainants' bill, or which miphs
render 1t necessary TO take proofs. Mr.. Bragg.
IN behalf OF his clients declined to admit all The
facts set forth by complainant, but relied main.
~ upon the ground that the Mortgage Of 1888
Vas void, because, as his answer alleged.
two-thrds OF the Stockholders were not pre.
sent, as required by the Charter, assenting
ana agreeing to The Mortgage. In the conclu-
SION OF his argument, Gov. Iredell reviewed
me ground OF defence set up by the Virginia
stockholders, denounced them as repudiators.
ma charged that their only object was DELAY.
Mr.. Badger also addressed the Court briefly.
md concluded by offering to submit to a de.
'ree for foreclosure. Mr.. Bragg acquitted
himself with. his accustomed Ingenuity and a.
'llty, and did ample Justice to his clients.
Judge Settle pronounced Judgment against
he Road, and directed the Mortgages to be
oreelosed.
According to the act it is now the duty Of
he State Treasurer a. make advertisement at
'arlons points, for at least sixty days, at the
md OF which time the Road and other proper.
y, both real and personal, will he sold to the
highest bidder. The Governor rs authorized
osbId about 100000, and should the State
'ecome the purchaser. the Road will come
nder the control of the Board of Commission.
rs mentioned in the act In the mean time,
ne Governor. by and With the advice and con. -
ent Of his Council, shall have power TO sell
he Road = for the most that can be obtained
Of the same;' and it is expressly provided hy
he last section of the act. tina. ali operations
pom tire Road shall be suspended whenever
shall appear that its proceeds are not subj
lentio keep mp.
BY the act passed at the last session of the
legislature directing foreclosure of these
lortgaees, it is declared that the purchase
oney shall be applied first to the 100000
IAN OF lS4l, and then to.the $500, 900 loan
1888. Should The Roadsnot sell for more
AN $4OO 1000, the bondgivers will be liable,
nder the act, for the full amount of their bonds,
wit: five hundred thousand dollars and az
me doubt has been expressed upon this
'lat. The matteE will probably 60 to the Su-
eme Court. TIE decisionsi1I III t tribunal
III OF course besfhai.-Rais Standard.