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Superior Courts : Common Pleas.-Crown Cases Reserved.

501. was to be paid down, and that if either and that therefore the signing of Mr. Justice party broke the bargain a sum of 1001. should Wightman, who was on the circuit with the late be forfeited and paid as a debt, and to be so Judge, would be sufficient. recoverable. The defendant had paid 51. down, and given an IOU for the remaining 45l., and on his refusing to complete, the plaintiff had Regina v. Carlisle and another. April 29, 1854. sold the premises for 9001., and had brought INDICTMENT.-FALSE REPRESENTATIONS. this action to recover the deficiency and the S. had sold a horse to the prisoner B. for 1001. penalty,--the I O U not having been 391., but had been induced by him and the paid. The defendant set up as a defence that other prisoner C. to take a less sum by the plaintiff had committed a breach of the co- falsely representing the horse to be unvenant in the lease to insure, by not renewing sound, and that B. had consequently sold the policy until after the expiration of the 15 it for 271.: A conviction for such offence days allowed by the insurance office, whereupon was affirmed. the plaintiff was nonsuited, (see Doe dem. Pitt It appeared from this indictment that a Mr. v. Shewin, 3 Campb. 134.)

Simpson had sold a horse to the prisoner Knowles and Barstow showed cause against Brown for 391., but that he and the other prithe rule, which was supported by Raymond. soner Carlisle had induced Mr. Simpson to

The Court said, that payment of the insur- take a less sum by falsely representing the ance after the day did not cure the defeet by horse to be unsound, and that Brown had in reason of his not having kept up the policy, consequence sold it for 271. The prisoners and that the plaintiff could not make a good were convieted. title against the landlord, who might bring an Whigham now contended the indictment did action of ejectment and turn the plaintiff out. not disclose any offence. There had been no consideration for the IO U, The Court, however, held, that the convicwhich had been given instead of so much cash, tion must be affirmed. and the rule would be discharged. Schepeler v. Durant. April 29, 1854.

Regina v. Harris. April 29, 1854. INDICTMENT FOR EMBEZZLEMEXT.-MONEY




A prisoner was appointed by the magistrates A rule niei was refused for leave to the de- miller in the county gaol, and ras paid fendant in an action, brought by a Russian

weekly out of the county rates. It was his subject before the declaracion of war, to duty to také tickets from persons bringing plead in abatement alien enemy where he

grain to be ground, and to receive money was under terms to plead issuubly.

for the same. It appeared he had ground This was an application for a role nisi on grain without a ticket, and had not acappeal from Maule, J., for leave to add a plea counted for the money received. On an inin abatement of alien énemy in this action dictment against him as servant of the in. which was brought by a Russian subject to habitants, or of the clerk of the peace, for recover damages for the non-acceptance of a the embezzlement of their money: Held, quantity of timber from Riga, and to which that the conviction could not be supported. the defendant was under terms to plead is

This was an indictment against the defendsuably, before the recent declaration of war ant as servant of the inhabitants of the county against Russia. T. J. Clark in support.

of Worcester, or of the clerk of the peace, for

the embezzlement of their money. It appeared The Court said, that the defendant had that the prisoner was appointed by the magis, agreed to plead issuabiy, and therefore not to trates miller in the county gaol, and was paid plead the plea in question. The application weekly out of the county rates, and that it was would therefore be refused.

his duty to take tickets from persons bringing

grain to be ground and to receive money for Crown Cases Reserved.

the same, and that he had not accounted for Regina v. Featherstone. April 29, 1854. moneys received for grinding grain taken in


Selfe in support of the conviction.

The Court said, that the prisoner had taken On the death of a Judge who tried a prisoner, in grain without a ticket, showing his intention held that the case which had been reserved to make an improper use, and for his own beshould be signed by the other Judge on the nefit, of the machine intrusted to him. He circuit.

had, however, no right on behalf of his master Huddleston applied for the direction of the to grind any corn except such as was brought Court in reference to this case, which had been to him with a ticket, and the money was not reserved by the late Mr. Justice Talfourd, but therefore received on his master's account, and who had died before signing the same. the conviction for embezzlement must be

The Court said, that all cases at the assizes quashed. were stated to be tried before the two Judges,


The Legal Observer,



SATURDAY, MAY 13, 1854.

JOINT-STOCK COMPANY MANIA. than of Government, so it is manifest that

the ordinary affairs and business of society “ EXECUTOR AND TRUSTEE SOCIETY." are more efficiently and economically con

ABOUT thirty years ago there was an ducted by individuals than by large comunexampled rage for joint-stock companies panies. No one doubts that where the State of all kinds. The newspapers abounded does not undertake the duty of constructing with advertisements of the most extraordi- docks, canals, roads, and bridges, the work nary projects, from the most magnificent must devolve on wealthy corporations or and impracticable to the most absurd and joint-stock companies. Offices for the ininsignificant. Many men of high rank, surance of lives, houses, and shipping, also bankers, merchants, and others whose peculiarly belong to a numerous body of names were familiar to the public and par. proprietors. ticularly in the City, were solicited to be- When, however, a moderate capital only come directors, and scores of schemes found is required, and where the principal thing their way on the Stock Exchange as soon to ensure success is personal skill, integrity, as the shares were allotted and the first experience, and activity, then the business small deposit paid. After a brief trial is best conducted by individuals who are amongst speculating shareholders ; but few responsible for, and whose interests are came into actual operation and still fewer connected with, the prosperous result of survived to any useful purpose. Several the speculation. of those projects originated with ingenious These remarks apply to many of the men who obtained the assistance of active recent joint-stock companies, to some of solicitors, and were sometimes well paid, the banking companies, peculiarly constibut generally the projectors suffered with tuted insurance companies, such as the the failure of the scheme.

insurance of doubtful or defective titles, Several years afterwards the railway mania and similar projects; but we would pecumade its appearance. Competing projects liarly address ourselves to the two schemes of all kinds were brought forward, and rapid for administering private trusts, now before fortunes were made and lost in the course of Parliament, and which, if they pass in any a few years. It may be said, however, for shape, will doubtless be followed by a shoal railway enterprises, that they are peculiarly of others. within the scope and province of joint-stock Considered, indeed, with reference to companies. They require the union of economy, how can it be reasonably expected many persons interested in the several lines that business can be managed by a public proposed to be constructed. In order to company with the same advantage as by carry such plans into effect, a large capital one or å few individuals ? is required, not only for the first outlay but 1. There must be a capital invested, for for the satisfactory continuance of the un- which interest must be paid. 2. The chairdertaking, and in such cases a joint-stock man, deputy chairman, and directors must company is tbe legitimate and only practi- receive their fees for attendance. 3. The cable mode of accomplishing the object. secretary, or actuary, and clerks, must be But as many public enterprises are better paid their salaries, and servants must be in the hands of an independent company paid their wages. 4. The rent of offices,

VOL. XLVIII. No. 1,366.



Joint-Stock Company Mania—" Executor and Trustee Society." rates, taxes, and expenses must not be sons of property cannot find private friends omitted in the computation. 5. The con- to undertake the duty of trustee. The cern must be publicly announced, adver- writer contends that all trustees should be tisements must appear frequently in the paid. If so, there can surely be no diffinewspapers, and prospectuses circulated culty in finding able men of business, throughout the country. Without exten- bankers and solicitors, who will undertake sive “puffing,” the merits of the scheme the duty, a large proportion of whom now will not be known or appreciated. 6. Then do so gratuitously. We say, therefore, that come losses and responsibilities, for perfec- the preamble of the Bill is not proved. tion cannot be expected either from directors There is no need to confer unusual powers or officers.

on these associations. The occasional deThese unavoidable expenses of a joint- reliction of duty of existing trustees forms stock establishment are to be paid out of no ground for altering the general law. We the profits ;-to which must be added law are aware it has been said, that where a expenses, the commission of surveyors, per- trust is designed to continue for an unhaps of engineers, and various agents. The limited period of time, as in the case of solicitors' costs and other charges may, charitable and educational institutions, it is indeed, be debited against the trust pro- better to select a corporate body as trusperty ; but all the other expenses must tees. This may be so, and the object can come out of the per centage paid by the now. be effected without creating a new persons interested in the trust property. company to be paid for their services. NuBut there will be extra costs, which the merous collegiate and other societies and company must pay, and especially when institutions exist, acting as trustees, to they happen to have made a mistake. whom bequests may safely be intrusted,

T'hen, lastly, comes the important dis- the more especially since the establishbursement of the dividend to be paid the ment of the Charitable Trust Commission. shareholders or proprietors of the company. It is remarkable, indeed, that in the article After deducting all the costs, charges, and to which we refer, it is admitted that the expenses, fees, salaries, wages, rent, taxes, vesting of property in the proposed new &c., what per centage can possibly be paid ? corporation would be objectionable, if it

The Law Review of this month contains were perpetual; but it is contended that the an ably written and somewhat plausible investment will only be temporary. This argument in favour of the Executor and candid acknowledgment gives up, in effect, Trustee Society. The writer assumes the the advantage of the perpetual succession want of such a company. He does not of a corporate body and neutralizes the obattempt to prove that there is any great jection to the occasional expense of appointevil which the company can remove. Heing new trustees, during the comparatively, notices, indeed, the occasional expense of short period of the trust. appointing new trustees, and asserts that To the objection that a public board is some trustees are negligent or incompetent, not adapted to the consideration of the but the remedy for which is obviously in family affairs and necessities involved in the the power of the parties interested to supply trust, the reviewer urges as a merit, that the by appointing others, and the expense of directors will be fitter trustees than the which (if not now small enough) may be private friends of the parties, because they reduced, without resorting to a joint-stock will not be influenced by any feeling of company to be paid for all their services. generosity to deviate from the strict rule of It is a mere unfounded conjecture that per- the trust We may admit that on some

occasions this will be an advantage, and we 'We marvel that the projectors did not get are not inclined to advocate the relaxation some Ralph Nickleby to convene a meeting of the strict duties of a trustee ; but we can and pass some such resolution as the following, readily conceive that a body of men, which we have taken the liberty to alter from strangers to the family, with whose interests the “United Metropolitan improved Muffin and Punctual Delivery Company:

they are intrusted, may unnecessarily dis“That this meeting views with alarm and regard the feelings and oppose the wishes apprehension, the existing state of trusteeship, of the parties, although a concession would as at present constituted, wholly undeserving involve no serious risk. the confidence of the public, and that it deems It is said, with some feeling of exultation, the whole system alike prejudicial to the in- that the House of Commons decided in terests and morals of the people, and subver, favour of the South Sea Bill, notwithstandsive of the best interests of a great commercial ing the opposition raised by the Profession, and mercantile community."


Joint-Stock Company Mania—"Executor and Trustee Society, and it is anticipated that the opposition will on the validity of testamentary papers, on the equally fail in the House of Lords. We construction of wills, on the proof of the claims are aware that the opposition of lawyers is of persons who seek to be treated as persons not much regarded, and we are not prepared relative rights of creditors and legatees. All to explain how it was that the resistance these, and many other subjects of the same was so unsuccessful, except that by grafting kind, must remain as at present subject to upon a private Bill these important altera- contentious litigation in our various Courts.” tions in the general law, the promoters of the measure dexterously prevented that

It was certainly not imputed to the prodiscussion which a public Bill would have jectors of these wholesale Trust Societies, undergone. The mode of proceeding at the that they sought a monopoly of the whole time of private business, that is from four to

law business on both sides of every question, five o'clock, is well described in Dickens's representing alike plaintiffs and defendants, “ Household Words.”

and pocketing the costs of all parties. The

objections raised are directed against the “A good many members are collected, talk- measure,—1st. Because it alters the general ing and laughing in unreproved disorder: no law by the side-wind of a private Bill, attention whatever is paid to what is going on; evading the proper discussion of its scope. not a syllable can be, or is meant to be, heard, 2nd. Because it limits the liability of the except the following formula repeated over and over again. The Speaker standing up, calls Trust Company: 3rd. Because iť indem* Mr. Brotherton!' Mr. Brotherton answers,

nifies trustees for a breach of trust, and • Bill

, sir.' The Speaker : Please to bring it exacts a profit not allowed by the terms of up.' Whereupon Mr. Brotherton trots up to the will or settlement. the table and hands a paper to the clerk, who It is unnecessary, however to repudiate reads the title of the Bill. Universal Loco- the right which the solicitors in general motion Company.' The Speaker then takes the paper and says, Universal Locomotion possess, to protect their own just interests ; Company:' that this Bill be now read a first

and if they are convinced, as we believe they time; as many as are of this opinion say Aye, sincerely are, that these Bills, whilst they as many as are of the contrary opinion say are injurious rather than beneficial to their No: 'the Ayes have it.' Whereupon the Bill clients, will be prejudicial to themselves, is handed back to the clerk, who reads again, why should they not, like all other classes * Universal Locomotion Company,' [or South of the community, resist such novel expeSea Fishery Trust Bill,'] which is supposed to dients, designed for the advantage of a few be the reading of the Bill

. The Speaker again to the injury of many? The Law Review calls upon Mr. Brotherton!' and the whole admits that process is repeated. All this goes on in the most rapid monotonous sing-song, varied only “ If the company proposed to engross all by the loud key in which, upon each occasion the law business which must necessarily be the title of the Bill and the name of the mover performed, and to monopolise it for the beneare pronounced; rendered tolerable by the fit of certain solicitors appointed by itself, there musical tones of the Speaker's voice.' would be some ground of complaint. But this In addition to these difficulties of discuss- is exactly what the company expressly declares

it does not intend to do. Where the testator, ing a private Bill, it happened that on reading the South Sea Trust Bill, the House or settlor, or the parties interested, shall desire

any particular solicitors to perform the law was on the tip-toe of expectation for a mes- business, they will be employed in preference sage from the Crown, declaring war with to any one else.” Russia. It is supposed that the objections stated

We can find no such provision in the by the opposers of these Trust Bills, which

Bill, but presume there is some attractive were partly expressed by Mr. Malins, Mr. prospectus, in which these liberal provisions Spencer Follett, and Mr. Mullings, 'origi- are contained. . It is also intimated, that if

ennated in the anticipated injury which would

cumbered with demands on their time, be inflicted on the Profession, by the transfer of legal business connected with trusts

“ such solicitors among the shareholders from the counsel and solicitors now.engaged tions in the Profession for skill, ability, and

will be selected as have the fairest reputain it, to the counsel and solicitors of these companies. The learned writer in the Law integrity," This is ingeniously devised, Review consoles “the solicitors of England” boon at so much as it is worth. In order

and we leave our readers to estimate the by stating that,

to participate in the overflow of business " The Bill does not propose to vest in the from the office of the company's solicitors, company the power authoritatively to decide they must become shareholders !


Criminal Procedure Bill. CRIMINAL PROCEDURE BILL. shall be taken and proceedings had as hereto

fore before one stipendiary police magistrate or

one or more justices of the peace; s. 3. A bill has just been brought in by Mr. Pleas of "Guilty” to be returned to assize Aglionby to “ Alter the Time and Mode of or quarter sessions; s. 4. taking the Pleas of Persons charged with Clerks of assize and clerks of the peace to Larceny, and for the Improvement of file pleas, &c.; s. 5. Criminal Procedure in cases of Larceny."

As to trifling cases. In all cases of pleas of It recites that the time and mode of taking stances of aggravation ; that is to say, where it

Guilty" to charges unattended with circumthe pleas of persons charged with larceny shall not be proved that the person so pleading should be altered, whereby much expense to “Guilty" had been previously convicted of the public, and the time of grand jurors, felony, or he shall not admit himself to have prosecutors, and witnesses, would be saved, been so convicted, or in cases of larceny of and in many cases unnecessarily long im- money or chattels where the amount or value prisonment be spared to persons so charged. of the money or chattels stolen shall not be The following are the proposed enactments : proved to be of the value of 5l. or upwards, or

where the larceny shall not be proved to have When any person shall be arrested on any been from the person, or attended with the charge of larceny or suspicion thereof, such breaking of any lock or fastening, or from a charge shall be made in open Court, either be- dwelling-house or curtilage, or by a servant, it fore one stipendiary police magistrate, or in shall be lawful for such stipendiary police maopen sessions, or in special sessions, and such gistrate, or such justices in petty sessions as stipendiary police magistrate or justice or aforesaid, before whom any such plea of guilty justices shall cause the charge to be taken in shall be taken, and they are herehy authorised writing, and entered in a book to be kept for and required, in open Court, to pass sentence that purpose by the clerk to such stipendiary upon the person so pleading “Guilty” as police magistrate or justices in petty sessions, aforesaid : Provided always, that such sentence in the form set out in the Bill; 6.1.

shall in no case exceed the term of two calenTaking plea.--After any person so charged dar months' imprisonment, and may be with as aforesaid shall have heard the charge read or without hard labour as to the said stito him, and also the depositions of the wit-pendiary police magistrate or justices shall nesses to the facts and circumstances of the seem meet; s. 6. case, and the stipendiary police magistrate or Returns to be made to Secretary of State; justice or justices shall think the evidence given s. 7. before him or them to be such as to raise a Costs. With regard to the payment of the strong presumption of guilt, such stipendiary costs and expenses of prosecutions for larceny, police magistrate, in open Court, or two justices in those cases where the party charged shall at the least in open petty sessions, shall call plead “Guilty," and such stipendiary police upon the person charged to plead to such magistrate or justices shall return the pleas to charge, and shall at the same time caution him the assize or quarter session, of shall pass as to the nature and effect of his plea, which sentence as hereinbefore is directed, such sticaution shall be in these words, or words to the pendiary police magistrate or justices are herelike effect :

by authorised and empowered, at the request “You bave heard the charge against you, sball appear on summons to prosecute or give

of the prosecutor, or of any other person who and the depositions of the witnesses ; you are evidence against any person so charged with now called upon to plead to such charge ; you larceny, to order payment unto the prosecutor are not bound to say anything beyond your and witnesses of such sums of money as to the plea, unless you desire to do so, but what you Court shall seem reasonable and sufficient to do say will be taken down in writing, and

may reimburse such prosecutor and witnesses for be produced on your trial : If you plead the expenses they shall have severally incurred *Guilty, you must not do so under any expec- lin apprehending the person charged, in attendtation of favour for so doing, but your plea ing before the examining magistrate or justices, will be taken, and a conviction filed against and in otherwise carrying on such prosecution, yon, which will have the same effect as if you and also to compensate them for their trouble were convicted by a jury."

and loss of time therein, and also a sum not And thereupon the said stipendiary police ma- exceeding 108. to be paid to the clerk of asgistrate or justices shall and they are hereby size or clerk of the peace on filing each plea of authorised to receive and take the plea of the Guilty” as shall be returned to him for that person so charged as aforesaid, which they purpose, and for recording a conviction thereshall enter or cause to be entered at the foot on, in lieu of all former fees which would have of the charge so to be entered in the book of been received by the clerk of assize or clerk of charges hereby required to be kept as afore the peace in such cases; and all such costs and said; s. 2.

expenses shall be paid by the treasurer of the In all cases where the person charged as county, riding, division, liberty, city, borough, aforesaid shall plead “ Not Guilty,” or shall or place, upon the ord in writing of such stirefuse to plead, the depositions of the witnesses / pendiary police magistrate or justices as afore

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