The times. [volume] (Richmond, Va.) 1890-1903, 1895-04-06
THAT ASSIGNMENT LAW.
The Supreme Court Holds II is Limited
10 Conditional Sales and Mortgages.
AIT'Y-GENEUAL OSDORNE'S LETTER
He kdvife, Governor Carr to Instit"te In
His Own Name handamus Proc ed
ings to Testthe Validity of the Act.
The Au hority for This Course.

RALEIGH. y. c., April J.-Special.-
The Supreme Court to-day handed down
its opinion In the assignment act. The
court holds that the act is limited 10
conditional sales. assignments, mortgages
and deeds in trust made TO secure pre-
existing debts and obligations. and that
mortgages Of the nature of the one be-
fore the court. growing out Of the trans
action itself and executed for a present
consideration. DO not come within the
operation OF the act. The act was not
intended to embrace transactions where
the debt grows out or the transaction
itself and is for a present considera-
ton"
Farmers viii be greatly embarrassed
by the fact that balances due Tor last
year cannot still be carried by their
commission merchants and secured with
their notes for currency advancements.
The Chief Justice, Justices Furches,
Clark and Montgomery agree upon the
decision. Justice Avery files dissent
ing opinion, holding that no properly
constituted case was before the court.
Justice Clark cCncurs with Justice Avery
that the case was not properly consu-
tuted.
This decision Will have the effect of
putting stop 10 the withdrawal of
northern capital, which had begun upon
the passage OF the bill just construed.
old law. except as to pre-existing debts.
This decision puts an end 10 the total
prostratIon of the credit OF the State
threatened by the act.
TIE ATToRssY-GEsERAL's LETTER.
Acknowledgement Osborne tonight
makes the following reply to Governor
Dear Sir: Your letter of yesterday
was received this morning. In it You
request me to investigate the question
whether a proceeding cannot be insti-
tuted In behalf of the State against the
Secretary Of State as a nominal defend
ant. 10 restrain him from furnishing
FOR publication the act known as An act
to regulate assignments and other con-
veyances OF like nature in North Caro-
ina until IL could be determined whether
1t passed the Legislature and whether
It's enrolment was procured by fraud
or forgery.
NO AUTHORITY POR THE (TIOS
IN compliance with the request of
your Excellency, | have investigated
the question as far as / could within
the limited time suggested in your letter.
such proceeding as the one mentioned
by you can be maintained. After a
thorough search | can find no authority
in our State or elsewhere TO sustain
1t. and / cannot see how the State. as
a person distinguished from it's citizens
is Interested In the question AS you
are aware, tue action, IT brought would
have 10 be brought In behalf OF the
state, with you as the relator of the
plaintiff and me as counsel. There is,
In my opinion, nothing in the official
duties OF either OF US which requires
us TO bring proceedings In any court
to nullify act OF the Legislature.
whether legally passed or not. But ]
do md authority in our own State for
d proceeding of another character, which
may effect the desired purpose and af-
ford a remedy TO our people against
the infamous outrage that mas Deeu
upon them.
CITIZEN CAN DO So
II think any citizen, in behalf of all
others, may bring the action you surg
sest. Such proceeding I'm the nature
of inandamus has been allowed In our
courts in the case OF Scarborough against !
against Whitaker. II N. e. page AS IS
somewhat analogous. Besides. 1 and /
authority in other States TO the same 4
effect. Among others. State against /
50 Wisconsin. page 10 AK |
American state Reports, page 20; Wise |
against Bigger. 10 Virginia. page a69
There Is nothing 10 prevent your Ex- !
,ellency "a citizen, IN behalf OF all /
other ciuzens. from bringing this ac-
beyond my duties as your legal "a
user. ! take this opportunity 10 ray
hat you. as our most prominent citize-l
are the proper person 10 do so.
III your Excellency should decide upon
he course recommended, the whole mat
.er vii. come before the courts for de-
,ision, and therefore express no opinion
upon their right or power to 60 beyond
he ratification Of m act OF the Lsgisla-