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

Wv S~sSS
and Others. .pofstio toner's, for Che inydttin.
tafy bankfupty Of the and
Columbia Railroad Company:
United States Of Amerfca, Eastern Dis.
triot Of South Oarolina. IN trs the
Greenville and Oolumbis Bailrcad. e.p
parte Daniel =. Scannell, ep parts Chss.
Madsen. Petition for Involuntary
bankruptcy.
It will bs seen that the issues made by
The piendinYa in this case sEo,as follows:
I. Whetherithis court has Jurisdiction,
the Stale OF South Carolina having lusti.
tuted proceedings as EnareItor upon the
bonds Of the respondent, aud in the
State court, under which all the property
Of the company has been tukeu posses
sion OFF
2. Whether the urceuvi!Ie aud CoIum-
bia Railroad Company is corporation
subject to the provisions oi the Bank
rupt Act?
s. Whothor the interest coupons
severed from the bonds are com mcrciul
paper, and the non payment lhureof for
fourteen days is an act Of bankruptcy?
4. Whether tho Greenville and Culum-
bin Railroad Company was bankrupt and
insolvent ut the time it suffered jndg ment
to be taken aguinst it by default?
8. Whether, being bankrupt and iu-
solvent, tho defendant suffered payment
TO be taken against it with intent thereby
to give preference to those creditors, or
to defeat or delay the operation uf the
Bankrupt Act?
+. Whether the respondent has suffer.
ed its property TO bo taken on lega! pro.
cess. with intent thereby to deteat and
delay the operation OF thu Bankrupt Act,
in the case of the State e.s 7'ei1tione the
Attorney-General, against the GreenviIl.
aud Columbia Railroad Company?
As to the first question. hold that
whatever tho interest or lien tho State
may have in or upon the eproperty of the
said 'Greenville aud Columbia Railroad
Company, if said company be bankrupt,
the jurisdiction OF the bankrupt court ih
not Ousted, because tho Stu,e IL IL crrdi.
tor.
AS to the second question, I hold that
the Greenville and Columbia Riilrond,
un0er the Act and decisions upon the
Act, liz u corporation, subject to the pro-
visions Of the Bankrupt Act.
AS to til. third question, hold that
tho interest coupons severed from the
bonds are commercial paper, and if the
Greenvile Railroad were IA banker,
broker, merchant, trader, manufactures
or miner, the non-pnyment of its cou-
pons Tor fourteen days would be an uct
OF bankruptcy; but rs it does not IN my
opinion) fall within any one of these
classes, the penalty for snch stoppage
does not attach.
AS to the fourth question, (acting in.
stead of q iury,) have not been abls to
tind tho insolvency OF the company, OF
decide that it is insolvent.
AZ to the fifth and sixth questions, not
having found the Greenville and Colnm-
bia Railroad insolvent, it is not necessa-
ry that should decide them.
have simply stated my conclusions
upon tho issues presented. without argu-
iiig :hen. and without reference to the
authority upon which they rest for sup.
port. Time has not permitted more.
Let the decree be entered accordingly
GEORGE S. BRYAN,
Circnit Judge District South Carolina.
NOVEMBER II, 1872.
The ABDEviLLE FIRE -Spcaking cf
the losses by the late fire, the Abhcvill,.
Press and Banner says:
Among the merchants tho heaviest
losers nre tho Mcssrs. Dnrnweii, ~iio A.is.
saAuSo % 'Lu1 toSS VI luClE SOOuS, cotI-
mated at $1,000 or $1,000, but CO vered
by insurance to the extent of Sc, 600.
A. N. Hill & Co. sustained loss of
perhaps 81 900, large portion OF their
goods being stored in their adjacent
warehouse. which escaped. and tho rest
OF the goods which were saved being
transferred there. Their loss is covered
Ivy policy OF 81. 800 Mr.. Hill himself
lost his clothing and that of his family,
household furniture. and some $500 in
gold, which was in his trunk in his bod
room. His loss is about 81 600, and Il
very heavy one, rs he had 10 Insurance
upon his household effects
j. d. Chain rs Il Co. estimate their
loss at 81 900, having saved the greater
part of their goods. Their loss is
covered by q policy of Sl,GOO.
Lee Pnrkcr also snved the greater
pnrt Of their goods, and cstin,nte that
their loss will not exceed 81, 200 or
81 500. Their loss is covered by IL policy
Of $4,000.
The four stores burnt would not cx-
cced in valuo $1,000. Two of them,
those of Messrs. Robinson and Aiken,
were uninsured, and tho two belonging
to the estate Of A. A. Williams wcro in
Snral tn thn umnunt of 81 00a