Ridge Turnpike Company v. Peddle

• Decision Date: 01 February 1846
• Citation: 4 Pa. 490
• Parties: RIDGE Turnpike Company <I>v.</I> PEDDLE.
• Court: Pennsylvania Supreme Court

4 Pa. 490

RIDGE Turnpike Company v. PEDDLE.

Supreme Court of Pennsylvania.

January 26, 1846.

February 1, 1846.

Jan. 26.

IN error from the District Court for the city and county of Philadelphia.

Gerhard and Mallery, for plaintiffs in error.—The property of the corporation is a trust for its creditors. 2 Story's Eq. § 1252. And we contend, the writ of sequestration would secure an equal distribution, which is the policy of our statute of executions. It is equally to the advantage of the creditor and the public. The franchise cannot be sold, and the expenses of the road must be first provided for, and the writ of sequestration is the only method by which the profits can be reached, or the creditors obtain the control of the corporation.

The District Court of Pittsburgh have decided (3 Law Jour. 179) contrary to the court below. They have held, as we contend, that the act of 1836 is a full and complete system in itself; this appears from its arrangement. This remedy is given in peculiar cases. By the same act, a distinct provision is made for corporations, and the remedies are distinctly stated. [ROGERS, J. — Had the corporation a farm, could not a levy be made? I see nothing in that act requiring an equal distribution, but the contrary; nor do you show this is an insolvent corporation.] The Report of the Commissioners, 71, shows this system was intended to be complete. The court thought corporations were persons within the act; but that separates natural persons and corporations, treating them as distinct; and considering a corporation insolvent when there was no tangible property, they have provided this remedy, equivalent to an insolvent assignment.

Guillou, contrà.—The act of 1845 having extended the remedy to corporations, the only question is on the construction of the former act. There being no evidence of insolvency, for in each case the answers of the garnishees are in fact in separate proceedings, can it be sustained, that there is no other remedy than is specifically provided against corporations in the act of 1836? What would be the effect on a mortgage? Cannot a levari issue? Under these circumstances, the only construction can be, that this writ of sequestration is an additional remedy to enable a creditor to reach the tolls.

Feb. 1. GIBSON, C. J.

The statute law relating to executions, as it was enacted on the report of the commissioners, was a harmonious system of provisions distributed to particular subjects under different heads; for each of which everything necessary was thought to be supplied in its proper place. The details under the head of executions against...