The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-20
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ened and entirely unready to act. wha.
has happened In practice? We have
seen the managers, while stou.ly DENY
Ing UP to the last moment that any
such step was contemplated. that The
property was in any way embarrassed
secretly prepare q Bill In equity. and
Without notice to any one Interested
itlc 1t In a court of the United States,
asking FOR the appointment OF receivers.
AS matter OF fact. In every ease
the proceedings have been cdiiusive.
The manaFers of the insolvent company
have controlled both sides OF the liti
CATION. The bills have alleged that the
system Will be disintegrated and the
iDsolYent company suffered
Upon this allegation the company asks
the court In the lnteies. OF the deb, or
10 deprive the creditors of their rights
or at least restrain the creditors from
exercising them. The representatives
or the debtor ask that, to preserve for II
property TO which confessedly 1t Is not
entitled, the creditors be deprived OF
that to which they are entitled tn dis
guise the naked effron,ery of this posi-
ION, the bills have generally alleged
Ina .hae ,he pubic interest VIII suffer from
the disintegration of the system. but 81
may be doubted if there is any. ground
ior TINS claim. IT certainly has never
peen established after argument for mo
opportunity to litigate 1t has been given
al u - tor the Interest of every one con-
cerned that the road shall be run there
~ little danger that the public win sur
Ter from an interruption Of service
Mar. Storey asserts that with scerce1v
an exception, whenever a prent roilyyay
ms ms passed into the control of the Court.
through the newspapers.
Flo holds that whoever else moy ba
HeIected the former managers or the
pronertv should not be made receiyers
Continuing to point out the evils that
attend the methods he critioises Mn
Storey SAYS:
proceedings like these are OF very
wi wi example Many a man sees the
savings of life swept away bv fba
mismanagement of n corporation and
sees me managers continue In charge
IN spite or al opposition that creditors
can make. To the reckless use OF power
pY the managers of great corporations
ana by those who profit In their down
ran we must attribute much OF the dis
tn,1.s coh.ent' the haired of capital and capt.
tailsts. or corporations and their offI-
GERS. which underlies the movement
which now excltes our alarm
III ls 10 the courts that we must look
Tor protection. Their authority rests
peculiarly on the respect OF the people
Tor their absolute impartiality, and in
the long run they cannot preserve that
respect unless they ,ohserve the well.
settled rules of judicial procedure and
unless they respect and enforce every
legal claim. Parties must be left to de-
teStnine for themselves whetper their,
interests VIII or VIII not be served by.
the assertion of their rights. The mo-
ment that the courts undertake to vary
their contracts or deny their rights.
that moment the confidence Of the COM
munity receives q shock and no man
knows on what he can rely. If the
courts had always refused to entertain
these applications for receivers when
made by the debtor corporation, or even
IL they had selected impartial receivers
md facilitated the enforcement of every
agreement. railroads would have been
reorganized more promptly and on q
more enduring basis than Is now possI-
BILE. while the confidence of the COM
munitv In the efficacy of law and the
sanctity of contracts would have been
pairs the obligation OF the contracts Is
more dangerous than any statute which
aims mt the same result.
When the court. through It's officers
undertakes to manage a railroad for
wears and that chiefly without hearing
the questions which arise In it's opera
tion: when 1t appoints these officers.
and in 30 doing grants the final relief
sought without notice, 1t violates the
fundamental rule of our constitutional
system.
James w. Russell dean of the law ia
Guilty of the University of the City Of
New York, read the paper OF Professor
c. NJ. Campbell. of Denver. Col, on the
Necessity and Importance of the Study
of Common Law Procedure in Legal
Education, who was unable to be pres
ent.
The final paper of the afternoon was
on The Teaching Practice in Law
Schools" and was delivered by Profess
sor. Blew!it Lee, OF the Northwestern
University.
An interesting discussion followed In
which many took part
BY reason Of the reception given by
Judge Batcheller in honor OF Lord
Russell, the evening session of the Bar
Association was made somewhat brief.
President Storey presided. The first
speaker. James w. Wheelwon.h, OF
Omaha: Neb., discussed the develop
ment Of the law of contracts. The paper
was a most exhaustive one and held
dience.
At the close Joseph B. Warner. of
Boston. spoke on the Lawyers Rela-
tions to His Client"
The association then adjourned until
1880 o'clock tomorrow morning.