New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-15

osiyers u future TIE following ,oes ting, teok place
on Wednesday morning;
AT meeting Of Justices cfths Srprens Ccrrt, held
for the purpose Of determining Q rrifogn course Of
Pressnt-Justioes Strong, Erot, Brdssye, Mitohen,
Roosevelt, Davies, Cserke and Peabody, the follow
irg opinions were unanimously concurrcc n:
In all csees in which TIE set Of 1879 3 applicable
il deemed TO supeede the provisions OF tho Revised
Satutes e r. S., 46+, sections IL and 39,. Accord.
irgly, no creditor OF bank who may have rAief IN
der that &C. have il under the Revised Statutes
That act gives the creditor right to apply 10 Jas
tee of the Supreme Court only after the expiration OF
ten days from the refusal Of bank to pay tSdsbts or
Even th.n q temporary and immediate injunction
can be grated only II n the opinion Of the Judges Il
be expe6ien in order 70 prevent fraud or Injustice.
After both parties sha be be ARD before the Judgs,
he il TO de,e N inc whether the bank is clearly soysst
or not.
A bank il clearly solyen. which Is clearly able to
pay eli i.s debts. although II may have suspended
specie payments for time In the case OF the North
American Trust and Banking Company, this prncip'e
was held by the Supreme Court and the Court o.
Appeals. 49,, =, .s..
sctrg in good faith, receiver should be appointed
Where the act Of 1919 does not apply if tae part Of
the Revised Statutes above referred to does apply,
it Is tionary on the part Of the Supreme Court to
oled by legal rules. and the INJUNCTION should never
be granted if the bank is clearly solvent.
An e1parte order for an INJUNCTION should not be
granted even after suspension of specie payments,
unless il satisfactorily appears to the Judge that Is
Necessary to prevent fraud and injustice.
The mere fact Of suspension Of specie payments
when it is general not of itself sufficient proof OF
fraud or Injustice to authorize such injunction.
AS general rule It is not expedeat to grant an IN
junction agairst bank, without previous notice.
II was slso resolved that Justice Mitchell be re.
to furnish copy OF these opinions TO eacn OF
the Justices Of the Supreme Court in the other Dis
ic.s, with Request that they respectively eommuni-
cate to him their views on the same points.
1t understood that in the of their cousuta-
ton the Judges were Of opinion that it admitted OF
great doubt whether the clause in section of article
of the Constitution prohibiting the passage of any law
sapctiouipg in an manner, directly indirectly the
suspension of specie payments by any person assoca
ton or cooperation issuing bank notes of any descrp-
tion-appies to any liability of such an association or
corporation other than bank bills notes, which are
by statute to circulate money, and for the payment
of which the faith of the State is pledged.
This seems to mean that bank may suspend specie
payment in regard to everything but their notes and
bills, and yet not infringe the provision Of the Cons
tuition above quoted.
APPLICATION FOR A RECEIVER DENIED.
A few minutes after the meeting Of the Judges and
the resolutions passed on Wednesday morning, Alr.
John Livingston made application to Judge Roosevelt
at Special Term against the Bank of New-York for 40
order to show cause why Receiver or Receivers
should not be appointed for that institution.
The Judge, in view of the resolutions at the Gen.
era Term denied the motion for the present. but took
the papers fer examination II is understood that in
cases Of rasd or bad faith in bank, receivers will
be appointed and ipuuctiors granted as heretofore.
The plaintiff in this case the holder Of two 500
notes of the bank They were presented on Tuesday
Afternoon and payment refused.