Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1880-05-27
RE-HEARIEG GRANTED IN THE O'CoN-
NOR TAXING DISTRICT CAsE-ITs
EFFECT-WHY GRANTED


The opinion in this case has been
withdrawn, and re-hearing granted.
The effect is to leave the case for trial
just as if nothing had been decided.
The re-hearing was granted because
the opinion was based upon
a mistaken assumption Of fact.
1t appears to be admitted,
on all sides, that when a new
corporation is created in place of an
old one, or an old one is changed and
continued, that the new or changed
corporation succeeds to the rights and
stands subject to the liabilities of the
old corpOration-if there be no posi-
tive declaration of the legislature that
the new or changed corporation is not
to be liable for the debts Of the old.
This is said to be the doctrine of the
late case by the supreme court of the
United States Of Beckwith against
city of Racine, and of the case of
Boughton against Pensacola, by the
same court, and ola case decided by
Judge Cooper, when he presided as
chancellor. in acting in the O'Con-
nor case, the supreme court overlook
ed the fact that in the 18th section of
the act creating the Taxing District
government, it is expressly declared,
that the new local government shall
not be liable for the debts of the ex-
tinct or abolished government. This
fact being distinctly brought to the at
tention of the court, by the petition to
re-hear, the court promptly set
aside the decision, and continue the
case for hearing at the next April
term.
There is an impression with some
that the delay to decide the case at
Washington, and the action of our su-
preme court in annulling the judg-
ment Of revivor, in the O'Connor
case, is owing to a desire to give in
diligence to the new government.
This is groundless conjecture; these
are lawsuits-the law, and not favor
or partially, is the rule of decision
We are at pains to lay before our
readers the exact status of the O'Con-
nor case, as it was source of uneasi.
ness or anxiety with some of oul
friends, 1t is certainly no longer
cause for the slightest apprehension
All that has been done in it goes fol
nothing and, a fair presumption il
raised, that, if the overlooked fact
caused a re- -hearing-as it is an undis.
puted fact-next term it will produce
a different result.
| Whilst on the subject, we take occa
sion tG repeat what we have before
said that, st the proper time, anC
when it can be done without oppress
ling our people, and without iHteFfer
ring With any work that is indis
pensible to make our city habitable
we should be glad to see the old deb
compromised and settled, 1t will. n,
doubt, take this course. We hop,
the legislative committee, charged
with this subject, will not be unmind
full to give it the consideration chat it
importance demands, Because we ar
where we cannot be coerced with de
vouring wFits of mandamus, W
should not forget thai we ought volun
tariIy to make such provisions for tn
old debt as We can, without oppress
ing ourselves oE destroying al
growth and prosperity tO GRr locality
We are opposed to being deyOuFed
but not as bad our enemies paint us.
La settling, we shall not forget tha
much Of the old debt is tainted will
fraud; and that the old government
did not get more than tveRty-fv
leents of actual value to the dollar il
the present currency for it; nor tn
fact that the present holders, or nearl
all of them, bought it on speculation
and for not exceeding 331 cepts on tn
dollar. These are important facts t
be remembered in voluntary settle
ment. No doubt, ulHmately, tn
holders Of the old debt will get q con
! siderable sum out Of the two and
half millions of back taxes t4Fne
over to them. When the amour
realized from that source is ascel
tanned, then we should consider no
) much more, under all the circun
Q stances, the holders of the old del
should receive, and join theH in Q
: application to the legislature to lay
=