The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-02-13

am with tho proceedings but know that 1t il made tbs
duty Of the person administering to exhibit ta5ieau
OF all the creditors arranging them according to their
respective priveses and when the estate reduced
first paid, beginning with the wife and the
minors and extending to the cases of mortgages,
and then among the general creditors according their
respective rights And sir while 1t Is necessary to
estate in the cases Of Myers according to the provisions
Of the civil law, there is what is called family council
held held which can make a general mortgage providing
partcusr part Of the estate leaving the residue be
disposed Of BY him he peases. This done on con-
nciently interested to take care Of the estate So
there are modes by which, by the Intervention Of
Iied woman, spread as they the whole
tate may be confined to, particular portion of It,
The learned counsel who addressed you yesterday ad-
dressed some observations to the Court in respect to
The a ss not WIN II. to
the possession? Why, no; admit that in the Of
pawn holder cannot take the pawn; and this
provse in secton embraces great variety of
liens and encumbrances Sucha oneis to be trestedac
cording its nature and local character all the rights
oate And here find for the 18th section of
the Bankrupt Act which my learned friend relied to
show that there other by which an assignee
could redeem mortgage but by paying the amount due
upon It, Now will tell you what strikes me- the
to enable the mortgages to redeem upon payment the
amount duel he had that right before and when it falls
to the assignee the right to redeem goes with it, After
that this eleventh section should have been
introduced But there two or three provided
for in this tn section In which, If they had not been
provided for there would have been the bank
rupt to act rs in the Of pawnbroker where the
money not due, but is to become due in the future
Now let US suppose the case Of mortgage the day of
payment not having arrived But for this provision in
ton you could not annul the matter or destroy the
rights OF the MORTGAGE you could not have anticipated
could not have Invested the of the thing
and have brought into the general administration of
the estate by paying the amount due upon the pawn,
and thus berating the property 1t seems to then
| that We have plain and simple mode of proceeding
The first section tells you what is to be done; thata
suit IL to be brought in which the bankrupt is to be
plaintiff, his creditors the defendants; that schedule
Of the property Is to be prepared The third section
tells you how is to be referred to assgnee that the in
yestmen is complete without any further msmor andum
The tenth section tells you how the property be
disposed of that it is to be reduced to cash and distr
buted among the creditors according to their rsspec
tive privileges The proviso to the second section
tells you that Notwithstanding any provision in this
act, certain rights shall be preserved have shown
you how they are to be preserved; how, instead OF
having large estates to administer bankrups the
State or Louisiana WILL in nine out of ten have
nothing to administer have shown that of these
acts to be annulled that the wife above others is
to be taken care Of and that orphans not to
elected that the MORTGAGE the pnwnee-every of
the ncumbrsnces no matter what its nature charsc
ter is to be taken Of that all be done
consequence of action either SIDE but by ope
ration oflaw for the purpose Justice And here let
remark opposition to the learned counsel the other
SIDE that speed railroad speeds what every creditor
wants Every wants to know what to be his condi
ton, ana surely Two years not frghtfuly rapid In
point OF time to incur degree of reproach for
hsstness in the justice But learned
counsel cites this case as an example of the spirit Of M
CATION have shown you already that the reprosch of
litigation is far than the allegation of delay
and judgments that this very city bank
which has invoked the interpretation of this court rely
ing upon the doctrines of law laid down by learned
gentleman that very city bank orbore interpose or
. It was shs vsry 81 ov ppS
when appealing to State court whom they failed in the
a iuUap auar
With pretty long broom, for that handle is
attempted to be extendeo the city of Washington for
not contended with the decision of the court
not content with the decision of the Supreme of
their own State, it is they who reproacn with
turb long settled principles doctrines are bringing
forward and attempting to upon this rsproach
subject of the just Interpretation of the bankrupt act
and will to other points which arise in the
OF which my learned friend has made very short
disposal He considers these points, that is say,
the fact that the first and older mortgage cognzant
at least offered opposition to it, the fact the era
sure OF the mortgage by competent tribunal whose de-
osion stands the effect OF all which had &C.
CURED to the city bank in consequence OF its silence
and the learned counsel seems to think that all these
points are without the jurisdiction Of this court and
shat under the act Of 1882 you restrained from
looking at these errors and conne yourselves to
the consideration of the single question of the validity
OF title which is brought before you for examination.
Now differ with my learned friend in this respect and
trust ! shall not be unsuccessful in showing to the
court that honors bound to look at the whole
as 1t stands. Allow me- without troubling you with
quotations for have always disinclinaoa occupy
the time of the court with reading authorities
me, say to state what understand to be the course
of the decisions upon this subject If man bring up
before you title derived from the laws of the United
states, 1t Is a At subject for examination; but If
he bring up another sort of titls-a and in
dependent title, as is said in the case Of Lane
have no authority to do 80 under the act of 1888
This Court has also repeatedly decided that it is
aqustion arises under law treaty or the
Of the States 1t is sufficient if the Court perceive
arises under the laws the Constitution the
Now let US advert to this restrictive clause contained
enS vi t ~ Vsos tho OF c which my
Of looking at this case in all its points Mr. Clay here
quoted from the act of 1889 then
But other shall be regarded as ground of re-
verssl in any such than such appears upon
face of the record and immediately respects the
mentioned question OF the validity of the title &c
Thus says the act You forbidden to allow to be
signed to regard as ground Of any question
but such effects the validity Of the title such grows
of the construction of treaty Of law or Of the
constitution which the record discoses You not
from making anything the ground of her than
that which i discoses Now am free to admit that II
the three parts to which have alluded have relation
to eur title, either In connection in the OF
Matthews and Lane, that your honors would not have
right to the decision Of the below But
which Of them 1t which can be said to have relation
to the question of title We cay that the prior mort
gagss fully notified of proceeding and that he
consented t. tn esae OF the property by not opposing
The learned said yesterday that there is no
evidence OF notice that the writing produced But
the court below says was produced there aud whether
be record or not Is matter But IL It not
thref the first mortgages had the SALE
the premises his subse quent petition
the court and prayer for the application pro
ceeds 70 the payment OF his mortgage and by recsp
ton Of thos- proceeds he ratified and confirmed
cesdngs he lie reception Of the proceeds revetug back
apoa the proceedings of the sale renders them valid II
they had been invalid and gives them all the force and
effect which they would have had II he bad himself
into court and in the suthor alive author
lied the sale It may be- said that show that
the fret MORTGAGE has sssented to the sale and re
csiy nd hiatt n
red in the Bankrupt Court it be alleged that this
relation in the language Of the OF 1889,
title Can it be said with respect the third
question that Is the Of the mortgage that
respect to title Why, the erasure was ordered
by the court prior to the sale. IL was commanded
by the Bankrupt Court, after the sale the
express purpose of giving the very title
which your Honors invoked to decide
upon The bankrupt court makes an order upon the
Recorder to the mortgages The Recorder refuses