New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-09

clearly .p. from The 1. &c Of the s the
a. issa,Sp q B9 3ss s I'd h1s .s.%s
M nay be @ y are sS Ss1 .sG.a 70 b. made
babe in th individual capacity appears from the pap rs IN
the they citizens Of l9!isIa and The sl lay DC
i. also objected to bill bODdhOaeis who have
WSs1e the :1ss. b. legally and possession
9th fund lot be :. make the tsi qse nH
es: ss i: sS1
made p.' Prseeas In such s,1 l1y o or IN
them and the Company would require the 0'ndhoeef 70 DC
But th. may be subject the sener, rule adopted BY court:
Of necessity the psies too numerous to D. Drought
Styond Ii. detSn the Court be reached By i.
process and refuse to make ibepese. p' ~ 1O. he nss
ties before il. .,..
@ Rrs.sst motion ihi: defect s n ;ae
the question viii become important .
Ia. pc. .sit to sss Hs e property .a proceeding
in ekancery and ought not 70 be sustained
perceived that !, may oct be waived. -
The 9Ss .a.~s Hs Ss
.tTens,he the spp4icn for Re'eyer the .davi'. Of
died and The last report q The RairoaS comPsny ,
Mr. Lane s:;e. be % 1 ; cdSssv Y and
says found the financial condition of the Company
paid their Ssses for long time and that strike
Ec and he proposed the Company s. the l.bOrer should
mould give trustee &c.
DIT Of hs GcmP,5Sy sS,sd the PROPOSE IN ms de-
ree the .et, stated by MI Lane in regard the embarrassed
@sSe to him and he sy: that interest h. paid
sleted in b and that the bill is And he tina.
ne oDnP Sas and 3 duo tS v.foa SSu
eea.n eIns so.tn debt and that very large
Der Of those holding bonds Of the Company Issued under the
served him written request according to the conditions OF
the moItss.e. recurring linn 70 cause the said road and m "a.
oItssse In the deed Of ust was required tia; at the
ubps be shall the premises be sold" The word.
used the above affidavit are not equivalent the
that sSt s the
Of r. 1sa sas fled
AFFIDAVIT Which admits the execution no Of the and I'll.
the proceed, Of the bonds stock subscriptions
and other means Of said Company were Insufficient TO hai;h
have finish the road and put in .dch oond
fn S'ta h pDp sna
At thai the sosd secue. had il such bad repute
.uch sscrifce would be rnOus TO the Company The
S TO- so S
total sacrifice to the bondhoder or 70 state the difficulty
on and use the net earning, with
as the Company could command and finish and equip
q hi S WHO .9a w Il
these dicue; and they uniformly advised him 10 BY
all and finish the road and relay the as bar track
f iSe r.
y Is: ss sd *. road eSS
only have been flushed and good order but the Ost
He denies that there has been the isappcatou Of dollar u
the funds of the road.
There ore judgments against the road for claims Of dam.
ages or the right way where parties refused ebde by
tie made but with the exception of this class of claims
there sS s. bes s{ Sssned idas
the year have been expended paying labor
materials aud in constructing and operating said road and
P1 ss the losd and are
than sufficient all of debts and that the security In
three millions Of Its bonds were negotiated The deponent
judge examined the work expressed the opinion that
work had been DONE In the construction Of this road than
The United States engineers and the Of State Of
9s:Ss ss ss Of o H s 'GP NsS
s % 1s s: g, the M Michigan
The the ISrd +. safe i nOs the Sns v
the ln9wease but the repeated and Urgent Request Of the
So% ms in
The sostng d.bt Company the LIST October 1857
ss r.. which shows reduction
.n h & it, Ps s as gGs the asss: o
iond LEFT surpu. Of $50 a5 gross earnings Of
q Sc 5 s SsGs5s The Of
dg S the same thine Of IT, iG Inn, % o,,
the - which after dedacns tie eSpeDd
% ,i ne the nss :a as
.:%..ed which failure Of al toe great
ssss''s tue ''''4a'
The interest now due about ezIaoOo which together
with the floating debt and the accns interest may pro.
yided oI ard paid under prosperous ceuI stances in
doubted hat the sccrns win be pnnctssy dis.
charged If 10 untoward circumstance should occur.
The case the bill failure to pay the ineres. on
the bonds in February last aud the embarrassed condition Of the
Railroad Company.
seems to Be considered that receiver will be appointed as
matter Of under the morgase where default has
# hs Be 60 the Chancellor IL such case can exercise ai.
reiOn He can do nothing less than carry into effect the
dhons Of the bonds.
the province Of chancey to enforce penalties. bat
relieve sgain them. II is asked the Count disregard the
contract the pse.l Certainly not. Bat where there
hard and 1 cOa Count q Equity will w
TO pss Would na cnee :svs
this penalty And the payment the penalty the
te' Of the party What could be more
ate tis e inc ns sh1 ana of Heis sabc the
many 10 the immediate payment OF several millions Of dollars
not payable under the default for many and the
same default subjects property the amour! Of several ons
10 sale at auction, on sho" n0uce'
The appointment of receiver waen directed made
benefit all the parties interested and not for the oeneht o.
appointment Of receiver resting the sound dis
cretion o! the Court. (Stp vs. Harwood, Astte 5of |
.ia I and ussse nights and Interests Of the Of the
fund will withdraw II from him BY the appointment OF
receiver unless the facts averred and $40"
that has been abuse danger OF abuse on his part
For the rule of such Courts not to dspsce bons hide
from any Of the just nsh,. attached to his ts unless
FsiIclOugh Sim. Il stuat li2 2 story's Eq Sec SS5
1t i. true that parties in the contrte under consideration
seed that as1 n me o any b'a incur the
penalty sought 70 be enforced Yet when the ad Of Oouls
Of Equity a f yI se ns and et.-mpts 70
exercise the powers given him in the contract which under
the circumstances, unjust and ruinou be may be en-
Has there been any abuse of their mapplica
their funds BY this Company which authorizes the s
iii. step Is to be taken by the BILL with view Of selling
the entire road and all m PPurtenances for the benefit Of the