Edward Douglass White

“ In the second place, when the unsuccessful financial issue of the receivership had become manifest, we think the statement makes it perfectly clear that the steps taken by the court for the purpose of bringing the case to a speedy conclusion, and thus avoiding the further loss which would result to all interests concerned, were also acquiesced in by all the parties in interest who complied with the terms of that order and took advantage of the rights which it conferred. ”

“ The bill then stated that, it having become evident in the following autumn that the corporation would require more money to increase its plant, to pay off the sum due Nevers & Callaghan, and for the operation of the plant, Valdes agreed to advance the money if he were made president of the company at a stipulated salary, given a bonus in the stock of the company, and upon the condition that the papers be executed embodying the socalled sale of the company to Valdes and the practically simultaneous conditional sale by Valdes to the company. ”

“ The lease provided, moreover, that in case of the death of Sanchez the obligations of the contract should be binding on his heirs, and in the case of the death of Castello, his brother, Gerardo Castello, should take his place 'and be a contracting party if he so desired. ”

“ Central Altagracia,-and the answer thereto and the answer recently filed in suit No. 564,-Central Altagracia v. Valdes [5 Porto Rico Fed. Rep. 155] ,-as well as the cross bill also recently filed in suit No. 465, make so many allegations and admissions as that the real issue between the parties can be plainly seen, and that, in the opinion of the court, enough proof is available here in Porto Rico.' The court thereupon declared that the Altagracia Company might by the next day, if it so desired, file exceptions to the answer in suit 565 and an answer to the cross complaint ”