The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-01-01
Supreme COurt-GonoYal Terri.
Prsseat-Edmonds, Edwards, Mitchell, Roosevelt and
Morris, Justices
EORTH ANYRICAN TRUsr5 YUND-ABsTRA0r ar

supreme COurt-laonoY0I Terra
Prsseat-Emonds. P Edwards Mitchell, Roosevelt and
Morris, Justices.
NORTH AMERICAN TRUsr1 YUND-ABSrRAcr OF
OPINION OF JUDGE R00sEvBLf.
object Of this action ID invadats large portion OF the
securities given by the lste North American Trust and
Banning Company before M dissolution amounting In the
Of the impeached securities were In the form Of bonds
iasusd upon and secured BY trust mortgages Of portions
osrasatss Of deposit, With ths boads q collateral A.
the ease extends over more than twenty-five Thousand
foos Of printed matter making sx large oota
even ynopds Of the whole The holders Of thu bonds
and Certificates are mainly 4esrs. Planners, NoKillop,
Der. me ss
Among the points declared in the opinion delivered BY
Judge Roosevelt (Which Of very great lengthy were
under the general law commonly called the free banks
although possessed of powers specially
chartered corporations not being monopoies not
porations within the spirit and meaning
and not subject therefore, to many of the restrictions
imposed by special statutes corporation SUCH 2.
the railroad securities in similar essss arc valid mortgage
That the company not nsolvsnt ct the time Of
making them, nor were they made In contemplation Of
insolvency, with the view Of giving Illegal prefer
snoe but raise money not immediately con-
vertible, In order to carry on the banking business
4 That neither the bonds the certificates cir
cuAng notes within the meaning Of the law prohibiting
the issue and circulation Of b and notes not payable
demand and without interest s. That tho sale of the
DOuub tu0y IN bterHnR mOu0y In LOnOOu
although under par was not violation OF our statute
against usuy That the loan Of $3.50 00 made to the
company by the Philadelphia banks at the time Of the
suspsnon OF specie payments In that city, being repay
able In tbs same currency in which 1t made, al
though loss sustained Ia converting the Philsdsl
p. into Nc. L: q
pose the defence usury either directly or through
where previously nterposed II not previously allowed
g. That banking assocations having indefinite power
Of depositins STATE stocks with the Comptroller IS
BASH OF eli cpauon would seem to have indefinite
power Of purchasing such stocks and Of making pro-
migory engagements In good faith to ray for them.
in good faith at the request of such association
take engage nents legal and valid and create
binding obligation on the part Of the association to
refund, and lawful basis to sustain pledge Of secur
ties to redeem the liability. The receivers bill should
therefore be oismisssd.
the only question In this the SALE made by
the sheriff conducted legally to pass the tsf The
bill Of sale given by the sheriff purports to transfer to
G. Meyers Of in and to the fixtures, machinery scene
~ furniture proper les 90 on the premises known Is
the Greenwich theatre for the sum of twenty del
lars On attempting to take possession, the purchasers
agent waswarned of. "Rogers" he says, ordered US
out AND forbade my touching ntsrmeddng with the
property with strong intmation that II did not 20 OF
psaceaby would be put out forcibly. And accordingly
Mr. Rogers left In osaession," and Mr. Guild the
alleged purchaser. commenced this action AGAINST him
for the trespass On the trial. M Justice Mitchell the
property not 10 view at the time Of the SALE and sst
entirely uncertain which articles the sheriff meant
SELL which articles this purch assis bidding on
considered the mode Of sale illegal and insufficient to pass
the tite and for that among other reasons nonsuted
the plaintiff Speaking Of the property solo, the witness
all be seen" The deputy; it appears stood in the
vestbue of the theatre and pointing ont the property
in it and holding the execution in his hand .ad he sold
cuton " After dwelling tims 1t kno ,ksd down
the first bidder At the first and only bid, fer the in
significant sum OF $26 Tho performance consisted Of
one act, that short and the audience
scarcely numerous than the acts the idea OF
disposipg OF an immense number Of articles the whole
claimed by the him self the mark
II $40 0oo in such manner fn $26, utterly pro-
theatrical and although lawyers the
officers Of the law are not subsequently introduced in
to me, for real sheriff. with . real execution TO engage
In such Perforn ance, for judgment creditor to
claim for 1t any more serious results than laugh. In
the cases Of Sheldon against Soper, Johns 362 and
WariDg against Looms Barb ass, it held that
execution tales Of the articles intended
to pass must be shown the bidders and fpeciay de.
sgnated And In Cresson against Stout II Johns 116,
IL was held thar the eae should be at tho place where the
goocs situated $50 that they may be specifically
and examined The legislature when prescribing the duty
oikconsables justices judgment has inserted the rule
as express proviso in the statute. R. S. 252 l48.
Tho principle which the rule rests Is, that IL
forced sale must be had reasonable precauton
should be taken TO prevent sacrifice and
any oppressive abuse Of the power OF the lay The
Judge, therefore, right In treating the sale
denied with costs.
John Cook rs Stokes DicRason Order of special term
III Pepls er rel SiYson McIrrrs the Board Of Education
Judgment for defendants demurrer TO retarn to
mAndamus with costs.
Joseph BoIty and oilers The Western Vermont Railraad
Company Order OF special term reversed without
Charles 4. Darts and others Andrep s. G1r aiaiais
trdor.-0r6er OF special term affirmed.
James Hart U.s. Emanuel 3. HIt-0recr OF special term
affirmed. with costs
JONES Delrschio rs Ei,cin Berg and James L. Loas-
ODD If 81 tSr,,, Itrp,ad p~tfh
Charles L. Slaaon and others ambrose Il Spencer
Order OF special term firrned, with costs.
John s. Meyer Samuel f. Lent -order OF special term
Gatgil p B. Row rs John Vdoqcuer Of specia,
term affirmed with costs provided that on payment Of
all costs defendant have twenty days to putin more do
William J. Bucl u.s. Jarvis Swt and G.orse p. Stevens.
Order of special term reversed and defsut taken At
general term opened payment Of costs Of motion.
Benjamsn L. Billings rs Sidney O. Comm and oshas-
Order Of special term affirmed with costs.
Samuel B. Anuo,y and 'cs rs Martha Aory and oilers.
Andrea =. Pnor us. Hugh Mclntire-Nsw trial denied,
and Judgment affirmed with costs.
ahotat W. LOUDER rs Freeman Clarke and Others Judge.
ment Of special term affirmed, With costs.
Woodbury. LMcdcw Us. Delaney Kane and othas,-
so%as Reh and others sa rs John Pe1m arr
Judgment for defendant certiorAri, with costs.
Christopher Robinson and others u.s. Ann C. NcGror and
with special directions. See opinion.
John Y. BECKER and Wifs rs Louisa Lynch Decree Of
Surrogate affirmed, with Costs
Leis o. wilson Gesesee Mutual Insurance Companv
Judgment for plaintiff . made, with costs
Wiuidm Burger and Michael Lacou Columbia Insu
vance CSmpany-Nsw trial denied, with costs Edmonds
presiding judge dissenting.
WiRiam B. Reynolds Us. l,a,iah F1aoo-Dsmurrer to
return allowed and msndamus awarded, with costs JUS
tce Roosevelt dissenting.
Horace Run and George p. Rad us III. same-NAnds-
mus awarded Justice Roosevelt dissenting.
Igna'is Siurn and Others u.s. Ffans r He's and cthrs-
Reargument ordered.
Martin O1yerheine and others u.s. he same The like
AHsi S. Johye City Bank Of Cepeland-Motion for
new trial denied, with cssts
John Adams de-, ferdinand Suyfdm and others De-
cison Of Vice Chancellor affirmed, with costs.
In The mater Of Henrietta Hicks last ,oiN and sadpN.-
0rcsr Of special term affirmed, with costs.
Furmos Loan d Trust Company and b. " Rogers Is.
Hiram Hunt-Ssw trial denied, vi h costs, Mitchell j.,
dissenting
Le,cs Curtis and Others rs. David Lear Reyipr, and
chrs-Orginal suit Judgment Affirming all the trusts
and sssuritiss with special provIsions.
Leauia, Receiver, de-, ". Cmtiss and oh1NCro~ suit
bill dismissed.
Inae matter Of the United States Trust Conprny-Genersl
order made ~ to deposit Of monies In Court.
DISSENTING OPINION OF ROOSEVELT,
The People on the Relation Of Run and Reid rs Fan,