New-York tribune., 1882-04-19

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and pares ali assembled the next daythirty or more
10 them when there assembled thus giving TO one ana
all AT the same moment, the earliest and hrst iIorn
TO that opinion reference now made. It deals WITH with
every question presented and whilst denying te 10
the light Of the NexYok Elevated to bring an actlon %
the property leave to do when was nnied was
that al the capital stock Of the Msnhattsn M
been 70 for payment Of
the leases. that an action was pending IN h1 or New
Yort bronght by John C. Watson, a stockholder Of the
Manhat tan Company, in behalf OF himself ana oonoF ~
bS and That in advance Of the trial decision
OF that cause should not surrender the prop
erty, "a trial OF tho aoton might snow that .e w
| haitian Company not debtor TO- but creditor 10
NewYork Elevated The opinion Wc9 hrona6t IuSEt
1t boe had it printed and sent copies 10 All le hcm
York papers the next day, and II was also III ieW S
published IN pamphlet form ana quite "uey cIc""''u'
| THE QUESTION OF RECEIvERS CERTIFICATES.
Thrd-Afer the argument upon the application OF the
New-York Company to surrender Ito property TO IT, ana
prior TO the presentation Of its supplemental petition as
hereinbefore stated Judge Wcsbrook went TO the city OF
at the request Of the receivers to consult with
them I'm regard the prOpety OF Issuing receivers ce
cates for the purpose of borrowing the money to meet
The quarters rent due July l, ISL as lts nOpayment
might work forfeiture of the lease The result o tue
conference was an application for leave to issue them,
notice of which application, by the ORIGINAL 3ru'r hp
| ccompanies IL was thea the 2Sth Of September,
cin one day fhe expiration Of the Ninety days since
m, renf had became due and there no time TO
the order returnnbc at kingston IL was ma 20 re-
turnabe the next day at ihe once OF e 9o recVYra
large attendance large that the office OF the receivers
would not accommodate them. by general consent tne
hearing was adjourned 10 large room IN Ine pin9 9
the Western Union, and counsel ana parties assembled
by Messrs Field, sage and Gould, and afidayits rom
them were read in opposition me d,seHsSi0n peone ,
Company not In the hands OF receivers, It could OF
course certificates and pledge its property Tor her
nn mel
the holders OF the securities could Ohy take
subordinate to the rights OF the owners. II the
rights OF the Manhattan Company had become ioIIeed
there could be no security Precisely what MahDaltan
Judge Westbrook said he would do. lie would pledge
ali the property and rights wnlch Manhattan hau, Dnt
he would pledge the power of the Court to hold the
property az against the landlord companies until the
certncates were paid aud that all this should be en-
Gates would unde that only the property OF Man
haitian was pledged, and what that property was, the
Al parties present perfectly satisfied with this
determination, aud that night the ouer was perfected
by Judge Dillon and Judge Westbrook gwen 70 tne re-
portcrs of the papers ana pubsheu Tue next uorhhg
IL may proper TO state that whatever pecularte5 the
order contains were made NECESSARY Dy tle % Ptcuha h
OF the property and that the failure To rase me
money upon the certificates became OF no consequence
because as areauy been stated, the property was
surrendered, on account OF the nonaynent o the
rcnt and because as Will appear D the next state
men the very sought 10 be paid by the issue of
certihcateg released In settlement mace between
the companies
THE ORDER DIsNfIssING THE COMPLAINT.
Fouril-The week succeeding that during which,
Friday October 2l Judge Wesbrook read his opinion
to counsel assembled in NewYork nc at Monticello
holding tie Sullivan County Circuit and Oyer and
Terminer. On Tuesday OF that week October 2o), a
petition was presented from the Manhattan Company
the New-iork Elevated Company ana the Meiopohs'.n
Company, asking that tho property hhOlu Oe IetOou 70
the Manhattan Company lac petition Cd tna1 tno
Maj haitian Company been restored TO sOvency by
settlement made with its landlord conpanles-the New"
Elevated anu the Metropolitan by the settlement
the Manhattan lad released an cia 10 IccONer oa @
$4,000, 900 of stock. and the other TWO companies had
released ali back rent and had reduced thc rental from
zen per per year upon the capital STOCK OF the
lessor companies TO six per cent TINS was IN substance
the statement and the porfecng or the settlement de-
pended upon the taking OF the property out OF the bahas
OF the receivers and restoring to tue Manhattan Com
Seeing plainly that the effect Of the agreement
TO make the company solvent, Juage MesIRrooS brook
elegraphcd Attorney General Ward about H. MI ward
answered. il Judge WesbrOOk thought the new agree
ment was valid and mlde danhatlan solvent to act
nton his Judgment Judse Westbrook sgued the or der
srrenderng the property and ending the recryersnlp
approval OF this order involved only one question:
and II was this Could the directors OF the lessor COM
plnes alter the leases and reduce lhe rent without the
brock doubt, and held that the directors nad am
pie power: In so noluing, he held as Judge Lawrence
has since held AT special ern as the ene term OF the
Supreme Court for the tirsi department. composed Of
Judges DAVIS, Brady and Daniels Las since &c held and
District OF NewlOrk, aud now o the supreme court OF
the United States, also hcld
TffgfNon November 49, Judge westbrook being in Al
bany, and hoiing the Troy Circuit, was called N the
morning INTO Attorney yGcncral Wards room On gong
TO the room he Mr. Ward, who confined 10 the
house BY illness, Mr.. Bacon OF Field D0rshelmel Co..
~
lOway, yice-presdent Of the Manhattan Company and
also a grapher, Mr. Ruso, now senoSraphtr to the
stated be ending Of the Attorney suit 10
annu the Manhattan charter Tue answer OF the Man
haitian Company allowed to be amended 80 as to set
up the agreement, and Mr. Galloway was tuly and
pany That testimony has been carefully preserved,
aud upon H. wlth the agreements, which were pro-
duced showing solvency 0 the company, an order
for Judgment in the action disnissng The complaint vas
SsTAt the request of all the counsel aud upon their
the Manhattan Company was III the hanUs OF receivers
Judge Westbrook appointed +. L. Westbr0ok, OF
KINGSTON. y. y, his second cousin, referee tO pass
to time upon the receivers accounts Al the
close OF the receiyoslp, counsel ana parties agreed
upon all allowances including those TO tine receivers and
The value of the services was agreed TO
by those who were to pay ana without an! INQUIRY us
their reasonaboness the order was signed The Judge
supposing eminent COUNSEL representing every III
terest were competent to protect the rights oi the GU
cuts.
NOTHING DONE IN A CORNER"
SerenGThis omplees the history Of the Manhattan,
every step Of its progress Nothing has
been done In a There have been secret meet
Dgs in unusual places when court was held elsewhere
regular court room 1t with the concurrence
to Obige counsel among the eminent Ill the
terests. contamination aud enOing nave been reached
whca satisfy every party 10 the acuon and the state
to be opened II The action should nave been ended
was-tor Judge WeStbr0ok understood hdt ending 10
be desired oy dA-the STATE any party can TO
open the Judg gnent and have the action restored The
proper OF has been taken, Dut great property
has been rescued from bankruptcy ana destruction.
Judges have sometimes been cesred Tor depriyng COR
pOrons of their property but this Is the first instance
To the where complaint In made mat JUDICIAL
action has saved aud not rdlned vast interests.
1t simply say thar the lilies OF the Albany
County Clerk Office should show, and probably do snow
every order the action and the papers which the
same granted and naming has been done herein.
the persons preseut at the several hearings
before Judge MestbrUOK, will enable your committee
verify the truth OF the foregoing statement and facilitate
the investigation.
SOUTH CAROLINA ELECTION CASES.
CHARLESTON, S. c., April 1S.--In the United