New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-29
Law INTELLIGENCE.
SUPREME ooURr-srEcrAr TrS~'-'As ".
nnx ru,ssIr COMPANY AND ITS PRrsi-

n.siA Codeu Mmfty hece'o' Va ~
''''' w cornu.ny sst Cornelius Vanderbilt
J--rbi, action j, brought by the
.s.ivsr appointed in various seeons "iousn,
P'in ..,.orv Transit Company for the couection Of
~. ,0 the Company. The FIRST Was in an scAop Oh
~ ,lv.uja Coal Company, commenced ABOUT tHe 'V'"
80 1859 founded upon Judgment recovered on 'ao -
- Novenlber 1856 and Getting forth te insolvency Oh
n.ny the Issuing Of execution, and ats return VI
Ia, that the company had large amount Oh properly IL
Syo,k which could not be reached by execution ana
tbs,s Receiver be appointed and that judgment De
,h ,h coronation he dissolved This sction was
eps~ceA nv service Of the summons 90 t!r oecttay
e., companv on the 97th October 1855 In hay lSao an
n. mode At Snecia, Tenn for the spPoin nent OF zee
s.yer ana ne plaintiff 90 appointed GA the sist oil May
Ss ,.,.o..,..p.n.v.. ., plaintiffs. 20, The
nnanv c6nmencsd IN june 1856 by service o; copy OF
s1mlon. Secretary founded on seco'"iea
was catered for the appointment OF Receiver and wv
psiua as-in appointed Receiver IN oe.oSsr isso al
TIE third was In an scuoH by Ed"aid NJ hoV. s a. NAV
o., Accessory Transit Company eommcroe1 ss IN an
1855 '0unoe4 upon sdn Ca Doc r summon,
The Secretary Of the Company 10 ms reI af peoember
aus s?pened BY attorney, snd one, on tnS I''H "
The t,pI,i IVES in t6e ssi,on by James 8 sa d1Id .. %"
81, The ace. ssory Transit Company & "a If necsn.
IsiQ T,orded mon IN lslrnt recovered NC 81 ~ -
be- 1886 IN an st'lol commenced on She IuIn ~ IN
1856, by service If sGninons Oh INC 'e''' "
paby s of NoyepSer 1883 an order was made for the
,ppOi, Of Reeeiye5S 'na o." inc '0'' %
oaents other we've brought AND ~,
covered and Similar orders were made appointing 'e P
- nsraScr lea an action commenced by &c rso {.
Arbon snoder Of the company 10 behalf of himself
.nJ III otner stokholders the company, setting out re re-
soyey OF the In emen the uso Of de company ihA
aT d By decree da ed the 18Th Of ie9
proessrd aunu aud revoke se charter sni loS Aen P
.es.n Of the property Of the company aud Asteg On "
pOntmen OF Rsceiyer take tho property 4aS distribute
iho same among the creditors aud 1tOethodeI'o he US
parry .., To- 1.s.,J.r,, In tbj. action
ana on tho l2h dag of January 1889 ca order was entered
s"S in The teioa q sanford and others.
Jsmes N. Cross PRESIDENT OF the company AGA T. va.
al the eject OF the coupsuy which was efred the seal
Of the company aud there so s''scbed cerno-s
Commits Of Dseds tibet the same wn duy executed
by the President THE company. .,-,., ,, l.,
On the 18th January 1885,? the plaintiff obtained leave 10
In ibis Compliant the Receiver bis title under tbs
judgments before stated and undor the assignment snd sVe
Thai the inco 9oated under me H"s OF Nc't4
qua ard had Office FOX the Transaction Of business 10 New"
Thss prior to Jsnusry 1885, the compsny engaged in
probiabe eusine'' IN t,en'porng pasnssIs 1nh lesh
.cIoss tle nn0, 6 81 onss .Is and y,lo,hIs
and LAKE bosis and other property Necessary i'
That the value Of the property large and its business
Tat on The Sd Of January 1856. the de.snlsn
pointed of the company, sne on JAN &c. 1885,
vas eiscIed President OF the Company, . -.
That Fer. 10 1886. decree was Issued by Rvss claim
tg President Of the State Of Nicaragua under which
decree the ToIeTy Of the company on tile ibDas was
seized nom the company
were conferred upon the defendant agent and e,dsn to
DO 81 such acts necessary to e1tcAts tie company
from its difficulties sud restore it' r'Shis ..
That under such agreement tho deiendso. sde oonae,
with Poetic Mall Steamship Company Tor the payment 81
be NewYoTk aud SEN Fianeco b. the Com
parry Ia opposition the Pac nc Mali Steamship Company
Thst the agreement had continued Ia oiee Io"n 70 vac
o the ec and that the defendant had re-
flat The def ndut scGs President, accounted for and
paid to the Company 5000 and alleging tset TIE re
eus been paid but retained by the de-
The complaint charged .b. the defendant had received
postage moneys. witch be had 30; paid ovcf.
The complaint also charged upon tse defendant
seheue or dVes the Company Of its property AID 70
seqare for hs own use and enumen'ed various
o.. dIPs ~ ,s 20 n. a.s The 5dy rom The Pscss
Nal Steamship ComUany the execution Of nor,sage. npoh
vslos OF portion Of the ships 70 hi' sou at low
price for his and improper onaIses III Dis acc 'nnt-
the plaintiff recover the amount
NE defendant IL II. snswer denies right Of the psn
ta 90 rsinain this action AID biz authority g act e. receiver
well the various charges made against MN II We CON-
lie claims the subsidy belonging TO kmse and no, to
the company ard reges that he bs fully accounted 20 tie
company lie also dones al frauds IS alleged IN the com
pn and iassts defense tina; there deieei oil parties
ae question y hch Is raised the p.niiss tile
nsds when the plaintiff resied motion 10 ei'iss the
The seVs Of the dfrndanis COUNSEL correct, ia fatal to
the msiDtenaBce q the action. ~ .
feet Of OF the Nicaragua Government Of FEB IT,
winch recognized by the United states until h'y
ls5j Although Recognized when TIE decree wa made yet
a. the Of recognition N Asy the decree s feDsiaed In
force aud enforced by that Government From til ime
OF the recognition f the Oovernent IN My At ty ste
from Ito ihs. decree uut DO eonNdefed ~ yad
act Of OF SicsrsgUs sud am Of opinion That
wnere the decree wss not VOID at TIE time o. ls Tue
tive effect O. 10 give vsdy 10 ms county 70 nc ocIeo
made pfeyouy 10 enable the courts here 20 Jet on
q afs ek.INL ne
The ;sse Of Ogden tg FOliot o Term Rep. 72 which
vas red on a. sgtotity tg.,t this POSITION il sppca.
bic There tie patty sought be effected by decree OF
1seaton Newly tho Revolution had retained 20
1a Lien eSa 1 oe sssD a~Sy IA IL and BY res.
L. Of peace recognition Of the Oavefrneni Diiewsrd
A sinar ruling We msGe Ia ksnnett hgt Chambers u
Poward IT, Rep 81 foundd IN like manner upon the Hsee-
ept 5g void made aud therefore deriving no force
tie Chsrlef aud deprived IA. corporation Of its
eoGpoIass power. for all purposes e1cep that stated 10
she decree, would seem to me In TIE aosclc@ ol
eop,tsry decisions to be tho proper construction TO
s. give. to sud tic commencement OF &C ions aud eiVcs
Tor ore os two years with nc fact as
proved whole busne's Of the corporation hSa been
10 have been u1iy FIR T. 1. relied he com
of al eei'n 70 give thS
Butt 10 onHece4y oi NO to examine I'M. p1lLI more q,
length feel bound ~ the decision OF the Oenes
Worn Of his Dtnc. In resd to TINS COMPANY ~ ~nIen
fl,y ho thai Company WA no dsoVed ny ho decree
llnion tgt. Accessory Transit Company 20 -eIDi ~
cree the es 0! tho Company 70 be enforced here or Ar
W ito property aud 10 adopt me "noe aeo1ee We
sob.!dsr Ills Company ETH "a existence" , -,
II ne Company considered s In exiitenee, then the
Of Tue want Of tte IA tho platinum a.
receiver tie brought to recover debts due tho Com
Ysay, falls to toe sroUnd
u fega1d TO le yIoceedings by sokboder to wi ind mp
She sf4 Of tho Company thnk no such power Gao De
eIcissd iorelgG corporation. The only pf0'h Of
in regard such proceedings against corporation
L,'s Oen corporations incorporated by law OF tEl4
there provision BY which socShsdeT eau
tEus pIoceto in s STATE ssant tbs corporations cofpo
rhed by the of preserving The
property of the benefit oil ciedO s0cAholdeIs thtnk
Coat Of Ey has ample power 10 take charge Of t and 20
int