The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-11-22

anu Others sfpcS1tf for the iuvolnn..
tasy hankyupS Of tho safeenviilas aud,
Columbia Railroad Company: I
United States OF America, Eastafn Dis
trios of South Csrolina. IN rs tho
Greenvilie and ColumbiR Railroad. 60
parte Daniel L. ScannelI. ep payss Chss.
Madsen. Petition for Involuntary
bankruptcy.
It will be seen that tie issues made BY
the p]endings in this, case arc as follows:
l. Whether;this court has Jurisdiction,
tue Stale Of South. Csro.ins having lusti.
tuted proceedings as gnaraLtor upon the
bonds Of the respondent, aud in the
State court, under which all lle property
OF the company las been taken posses
sion OFF
2. Whc!he. the q a-eenville and CnInm.
blu Railroad Company is corporation
subject to the provisions vi the Bank.
rupt Act?
8. Whnthor the interest coupons
severed from the bonds are CON ,nri cial
paper, and the non-payment thereof for
fourteen days is an aot of bankruptcy?
4. Whether tho Greenville and Culum-
bia Railroad Company wns bankrupt md
insolvent Ut the time it suffered judgment
to be taken against it by default?
-. p" uotuoit Oclb& UuuhFupG UIu lu-
solvent, the defendant suffered pay mcnt
to be taken against it with intent thereby
to give preference to those creditors, or
to deleat or delay the operation uf the
Bankrupt Act?
&. Whether the respondent has suffer
ed it's property to bo taken OH iega! pro
cess, with intent thereby to defeat and
delay the operation Of tho Bankrupt Act,
C,lcl n Stafl III, .
Attorney-General. against the GreepvIlr
and Columbia Railroad Company?
As TO the first question, 1 hold that
whatever the interest or lien tho Stule
may have in or upon tho property Of the
said Greenville aud Columbia Railroad
Company, if said company be bankrupt,
the jurisdiction Of the bankrupt court ih
uot ousted, because tho State III u crrui.
tor.
As to The second question, hold that
the Greenville nnd Columbia R4iirond,
un0er the Act and decisions upon the
Act, is "a corporation, subject to the pro-
visions Of the Bankrupt Act.
AS to the third question, hold That
the interest coupons severed from the
bonds ure commercial paper, and ii tue
Greenvllle Railroad were "a. banker,
broker, merchant, trader, manufacturer
or miner" the non-pnyment of its cou-
pons for fourteen days would be an act
OF bankruptcy; but rs it does not I'm my
opinion) fall within any ono of these
Glasses, the penalty for such storpage
does not attach.
AS to the fourth Question, (scting in
stead o! j"ry,) l huve not been able to
find tho insolvency Of the company, or
decide that il is insOlvsnt.
As to the fifth and sixth questions, not
having found the Grceuville nnd Culnm-
Oia Railroad insolvent, it is not neccssa-
ry that should decide them.
have simply stated my conclusions
upon tho issues presented. without nrgu-
lug them and without reference to the
authority upon which they rest for sup
port. Time has not permitted moro.
Let the decree be entered accordingly
GEORGE S. BRYAN,
Circnit Judge District South Carolina.
NOVEMBER If, 1872.
THE ABDEyiLLE FIRE. .-Spcaking IF
the losses by the late fire, the Ablcvill..
Press and banner says:
Among the merchants tho heaviest
losers nre tho Mcssrs. Bnrnwcll, who sus.
.i;;ica e total loss Uf their goods, est.
mated ut $1,000 or 81, 1000. but CO veretl
by insurance to the extent Of $4,000.
A. NJ. Hill & Co. sustained n loss Of
perhaps 81 900, large portion of their
goods buing stored in their adjacent
warehouse. which escaped, and tho rest
of the goods which wer. saved being
transferred there. Their loss is covered
hy policy Of 81 800. Mr.. Hill himself
lost his clothing and that of his family,
household furniture. md some $500 in
gold. which was in his trunk III his bod
room. His loss is about 81 900, and n
very heavy one, rs he had no Insurance
| upon his household effects.
). d. Chain RS Il Co. estimate their
loss at 81 900. having saved the greater
part Of their goods Their loss il,
covered by policy of Sl,GGU
Lee & Parker also snved the grenler
part Of their goods, and estimate that
their loss will not exceed $1,000 or
81 500. Their loss is covered hy n policy
Of 81 1000.
The four stores burnt would not OK
cced in value $4,000. Two Of them,
hose Of Messrs. Rubnson aud Aiken,
were uninsured, and tho two belonging
to the estate Of A. A. Williams were in
snred to the amount of $1,000
Heavy losses occurred by tho removal
nf pooda Wor1low G. lI] ,,,;,,,t,