The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1874-12-18

nothing which concludes the queston
whether the purchasers have Obtained
their title by fraud, Or whether they
ara trustees lnala fiCle for others. ANA
such was the ruling Of the Louisiana
Courts. In the City Bank vs.. Waiden,
Louis. Ann, 40, the court CONSIDER.
ed the effect and scope OF the act. III
was passed, !" they said, 'sfOr the protec
ton OF bona flde purchasers az Jodiclal
sales from litigation concerning ma. nsas
Of form, . INCONSISTENCIES when
freouently exposed purchasers 70
nnreasonable and vexatious suit. The
dinculty OF administering and presery-
ina proofs Of the Observance OF fOrmall-
~ vaa. In the hands of the unscrupu-
loa,a. the Instrument Of great annoyance1
and expense to those who had purchased
and paid for property exposed to sale
under Authority Of our courts. we 90
not understand the operation OF the act
10 extend beyond the matters OF form,
not that It purports to operate upon
matters sdehors' the record" This ts
m.nifesflv the true construction of the
statute. aud It il quite consistent with
the enactment that the Judgment Of
homoloQation IL to be received and
considered as sslull and conclusive |
proof that the sale was duly made |
according to law, In virtue of judg-
ment or order legally and regularly
pronounced on the interests of the
PARTIES duly represented" Fraud and
trust are entirely outside the record.
IA sale may have been conducted
legally In all its process and forms, and
vet the purchaser may have been
guilty Of fraud, or may hold the pro-
perty as a trustee. In this case the
lcomplainants rely upon no irregu-
L 1 ~ - HfvSaR NJ q nm
Of form. The forms of law were
scrupu lously observed. But they rely
nnon faithlessness to trusts and common
lobiisations, upon combinations against
the policy Of the law and fraudulent
and upon confederate and successful
J efforts to deprive them wrongf0lly of
property in which they had large
; Interest, for the benefit of persons in
} whom they had right to place conf
: dence. HomOlogation is no obstacle
to such q claim.
! The Judgment Of the Circuit Court
must, therefore, be reversed.
: This cause came on for argument and
, was argued by counsel. Whereupon,
. after due consideration, it is ordered,
(. adiudxed and decreed that the deere
: Of the Circuit Court distnissing the bill
Z of the complainants be reversed and Sc,
] aside. aud that the bill be reinstated d.
! And it il further ordered and decreed
. and hereby declared, that the mort
! xage described in the bill executed to
! John Ray or bearer, is still q valid lie,,
: upon all the property described therein
: not sold or disposed VI by the Vicks-
e burg, Shreveport and Texas Railroad
I Company before December % 1865, AND
: the rights of the holders Ct bonds bona
b fide issued under the mortgage are hert
| tot hGSkN
!. ers are authorized to prove, their bonds
z under the decree Of this court or of the
o Circuit Court.
And it Is further ordered, adjudget
! and decreed that the sale made by Jol I
: T.. Ludeling and his associates, and III
t adjudication of the shrift to them, to
J, xether with the sherif's deed to them
Z Be declared to be fraudulent and void
y and be set aside and Cancelled, and tina
u perpetual injunction Issue command
8 Ing them and all the defendants, to re
!, frain from setting up or. claiming an!
9 right, title or interest under said sale O
e under said deed and also commanding
= them their agents and servants to re
D frain from selling or otherwise dispos
!, iug of any of the property rights credits
8 privileges, or effects covered by or EN-
Y braced within the mortgage made by
3 the said Vicksburg, Shreveport ant
i. Texas Railroad Company.
, And it Is further ordered, adjudgeC
and decreed that this cause be remittet
, to the Circuit Court for the District o
, Louisiana with instructions to direc
t ain account to be taken of all the prop
: erty of said cooperation and to appoin
: receiver thereof; and also, 10 order
that the property described or mention
' ed In the said mortgage be sold under
!, the direction of that court, for the ben
eft, first of all the bona fde bondhold
, ers secured by the mortgage, and, sec
) ondly for the benefit Of creditors ofthe
t Company and its stockholders, upor
' such terms as may appear best calcula
, ted to promote the interest Of all.
> And it is further ordered and decreed
, that the defendants do account for al
f money and property received by them
out of the property 50 sold to them OF
t any of them, or from its profits or in
t come, and pay and deliver whatever
. such on accounting may be found due
1 from them to the said receiver.
: Aud it is ordered and adjudged that
b the defendants do pay the costs in this