The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-24
A RECEIVER LOOKED FOR
JUDGE sPEER EXPECTED TO AP-
POINT ONE FOR THE r. AND D.


The Priority of ONCE Where Two or
More Receivers Bxist-The Validity
Of the CentraPs Lease TO the Geor-
gis Pacific Still Undecided.
Capt II. G. Cunningham and Hon. A.
Pratt Adams returned yesterday morning
from Macon, where they have been in at
tendance upon the hearing before Judge
Speer OF the petition OF the Central to place
the Richmond and DanYille in the hands OF
a receiver.
Judge Adams said that Judge Speer had
as yet given no indication as to the decision
he will make in the case. ave have
every reason TO believe" he added,
that our petition for a receiver will
| be granted. We have made ont
an incontestable and conclusive case,
and established ever point IN our bill. We
have shown the insolvency of the DanvIlle
system and proved by the affidavits the fact
OF its indebtedness 20 the Central to the
amount OF about 81, 500 900. II the lease
holds good this sum is due under the lease,
because of the failure Of the Richmond and
Danville to carry out its provisions. and if
the lease is declared invalid the amount is
| still due the Central by the Richmond and
Danville, because Of the latter's fduciary
| relation to the former an account of its
position as tenants at will.
UNDER A WRONG IMPRESSION.
"The majority Of the people," said Judge
Adams, ARE under the impression that the
lease of the Central In the Richmond and
Danville has been declared invalid. This is
not so. The point he's never been passed
upon by the court. The throwing up of the
lease by the Danville relieved the court of
the necessity Of passing upon the point
The question of the validity OF the lease is
still undecided and is a most interesting
| one."
In case Judge Spee- should decide to ap-
point receiver or receivers for the Rich.
mond and Danville upon the petition of the
Central, Judge Adams was asked if these
receivers would come in conflict with the
receiver appointed by Judge Bond of Vir-
ginia aud what steps would be taken. He
replied that In case a receiver should be APP
pointed by Judge Speer the first step taken
would be to bring the case before Judge
Bond OF Virginia and endeavor to have
them recognized.
Similar steps would be taken In the juris-
dictions OF every United States court in
which property of the Richmond and Dam
vile is situated. Judge Adams believed
that should receivers be appointed by Judge
Speer they would be recognized as such by
Judge Bond. Authorities differ upon this
subject. be said, some holding that where a
petition has been filed for a receiver in one
court and receiver Is appointed
by another court in the meantime
the receivers appointed by the court in
which the petition was first made have the
right OF precedence, while Others hold that
the first receiver appointed has precedence
by right of priority.
THE FIRST APPLICATION.
However. In this case, Judge Adams said,
the petition Of the first party for receiver
had not only been filed with the court, buJ
| the rule nisi had been granted, placing
everyb body concerned ON notice that the
| question OF receiver was to he considered.
Another strong point would be that state
| ments will be submitted to Judge Bond to
| show that petition for the appointment of
receivers was made in his court simply to
| forestall action in another court, which it
was feared would appoint receivers I'M
| friendly to the property. Such action is
not tolerated in any United States
court aud these Is little doubt
that upon this showing Judge Bond would
recognize the receivers appointed by Judge
| Speer and dismiss those appointed in his
| own court
| Judge Adams said the public generally
does not seem 80 recognize the immense Inn
| portance Of the case now pending. Not
| only does 10 involve millions OF dollars
worth OF property, but it teens with con-
| stltutioDaI questions. some OF winch nave
| never been presented to court In this light
before. Its decision, he said, is of immense
| Importance to the whole country.
Judge Speer refused for the second time
since the injunction Of the majority stock
to remove the injunction upon the $4,000
shares and permit them to vote In the sue
ceeding elections. The court. be said, pro-
posed to continue the hearing upon this
question until all the evidence In the case
has bean aubmitted which NAV be Seyaral
months hence. Judge Speer regards the
question as adjudicated so far as an inter-
locutory order can make an adjudication in
| the case