The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-02-10

( the gas destroyed the silk, and one morning
/ it collapsed. The New York Tribune gave
the event the following brief editoria
"a man IS lucky that's got brass,
a man is lucky that's got gas;
with brass aud ga. aud hackf rs too.
smart man ought o. NlgSle through
! The State OF Virginia was again invited
! Yesterday morning to see the great corpora
4 ton, whose beginning was at Norfolk and
whose end was the ends OF the earth, re-
/ deemed. 1t was announced that the former
railroad king OF Virginia was returning 10
/ victory that be had the necessary S3,OOO,-
: 600. and at 10 O'Clock precisely yesterday
morning. in the presence of an awcd and
admiiing crowd, would present it in court.
Great men were 10 accompany him, and
the pomp OF The procedure was 10 be
something to which the eyes Of Virginia
were unused. The hour arrived, and after
an awful pause the man famous on both
sides Of the Atlantic for many things, who
attempted to rival the exploits OF Joshua
before the wall, OF jericho by exploding a
p0WdCr->hip two miles from the walls OF
/ For; Fisher, opened his mouth aud spoke.
| Aud what did be say: That they were
ready to redeem road in default for SlO.-
600, GOO with Sl00,0 900 cash, This was all.
No: not all. They were willing TO cnrust
/ the court with thi, immense SUN only on
condition that the part exceeding the net
rcycnucs for ninety days should be
returned. The creditors have waited
seven long wears without one dollar OF
interest: and at last the courts have given
them tardy justice, the men who have
blttl,d aud bufittcd with creditor, for
year. cIme formed to pay the dCbL with just
one cent on the dollar in sight. The bar
smiled again. the vast crowd laughed, the
town laughed, and retired last night feeling
that a greater explosion bad harmIesSly
pissed than that Of the famous balloon or
the powder-boat.
MORNING SESSION or THE COURT.
The United states Count resumed is Sit
ting at 10 O'Clock Yesterday morning. There
was very large number OF persons in st.
tendIncc-amOng them many prominent
lawy yers and other citizens.
Immediately after the formal opening OF
the court General Butler continued and con.
cludcd his argument. General Butler spoke
about an hour aud quarter, and his speech
was an able Que from his standpoint. At
its close ne threw in 2 few political son
fences. rcmaIking that since lbc close OF the
war ine people Of Virginia had looked with
Gl,trust upon the United States courts, and
he felt sure that il the decision # this court
should be in favor OF what The people con-
Sidercd the true interests Of The State, that
if would 90 far towards restoring con-
/ tiGoncc and good feeling and make the peo-
pie more loyal and give them greater in
ic;c>t in the Government.
RECESS.
General Butler concluded about If!
O'Clock, and Judge Bond announced that
the court would take recess until o'clock,
at which time its decision would be given.
AFTERNOON SESSION.
The Judges resumed their seats upon the
bench promptly at tie hour designated. and
judge Bond delivered the following deci-
sion:
THE DECISION.
This j. z. motion on the part of the
morira@0r TO postpone the sale ordered bY
the decree in this ease filed MAY ., 1879.
The case ha. been pending in tins court for
nearly five years, and has regularly pro-
ceedcd with no prospect Of any other re-
suit than the one it is about TO reach.
THE mortoagor has allowed the time for
redemption 10 pI>>, aud alleges in ar@u-
ment That it baS been too poor TO do % ever
since The bill was filed.
"Thc motion before uS j. not made upon
any proof or showing that the finances Of
the mOTtglg0r have at all improved, nor
that II has been promised The certain aid Il
any capitalist 10 enable it TO redeem; ii
merely alleges that it believes that il the
court would make certain provisions in the
order opening the present decree and post
poning the sale the company would be able
TO redeem. The facts upon which that be.
lief j. founded are not given, and the Court
can Look al it IN 40 Other li.ht th1n u the
ordinary lingering hope OF debtor that
his financial condition will somehow i'm
prove.
"The m0rt@a9Or, TO be sure, offers TO put
i'm the registry OF the court the sum d
500, coo. to he sccurily for costs and los Of
interest caused by the pO>tpOncment OF the
sale but be doe, not Offer 10 pay now the
defaultcd interest, nor to allow the 100000
Is penalty for not rcdccmiug As hc says it
expects 10 do.
"Uudcr these circumstances. the Court
does not think that It would be equitable to
open lis decree and make the cOmplainants
risk the rise and fall Of The present infIted
market and the accumulation OF interest,
and the risk OF loss Of business and conse-
quent diminished receipts Of the road; but
think The company has had abundant time
10 make ii, arrangements TO redeem had 1t
any prospect Of doing so.
"Ihc fact that the charters Of LynchDurg
and Petersburg do not allow those cities 10
borrow money, being large stockholders, to
aid in redemption, and that the State Lc-
gslaturei is not in session, does not alter the
matter. II is too remote to prophecy what
those corporations would do were they as
sembled. aud certainly to postpone the COM
plants from the foreclosure OF their mort
cage on such n remote contingency or eX-
pectatiOn would he most ineqnitable, eSpe-
cially rs the security for the remuneration
for loss by delay, should there be such loss,
i, rs we have said, so inadequate.
THE compliments applied for a decree
Of sale al the October term, 1871. The
Court did not grant the decree until May,
1879, although the compliments made per-
sislent and yeIy frequent applications
throughout the whole period Of delay. Az
ter the decree the Court did not order sale
until July, 1856. ,.complaInants mean time
pressing continually for such order. Du-
ring the whole of this delay no effort was
made by defendant company TO redeem It's
property.
alt is too late. two days before the sale,
to ask for it, pOstponement without ten
der Of the debt, or what is equivalent TO Il
tender.
"Dufing Tue whole OF this delay the
Court felt IL was taking great responsibility,