William Howard Taft

“ These decisions establish, first, that the great object of the statute was to encourage shipbuilding and to induce the investment of money in this branch of industry by limiting the venture of those who build the ships to the loss of the ship itself or her freight then pending, in cases of damage or wrong happening, without the privity, or knowledge of the shipowner, and by the fault or neglect of the master or other persons on board; that the origin of this proceeding for limitation of liability is to be found in the general maritime law differing from the English maritime law ”

“ Justice Brown:
'We think the court must have confounded a stipulation given to answer a particular libel with a stipulation for the appraised value of the vessel, under the limited liability act, which, by general admiralty rule 54, is given for payment of such value into court whenever the same shall be ordered, and in such case the court issues a monition against all persons claiming damages against the vessel, to appear and make due proof of their respective claims. ”

“ Pursuant to the court's order, the National Oil Transport Company, as principal, and the Hartford Accident & Indemnity Company, as surety, executed an ad interim stipulation that the former, as principal, and the latter, as surety, undertook in the sum of $11,326.85, with interest, that the transport company would file a bond or stipulation for the limitation of its liability as owner of the barge Bolikow, executed in due form of law for the value of the transport company's interest in the barge and her pending freight, with 6 per cent. ”

“ It would be most inequitable if parties and claimants brought in against their will, and prevented from establishing their claims in other courts, should be unable to perfect a remedy in this proceeding promptly, and should be delayed, until after the possible insolvency of the petitioner, to seek a complete remedy in another court, solely because the owner cannot make his case of personal immunity. Bene dict's Admiralty (5th Ed.) ”

“ It is surprising that no case has ever arisen in which the question here mooted has been directly decided, though the effect of a decision refusing limitation has been the subject of discussion in The Titanic (D. C.) 204 F 295, and in The Virginia (D. C.) 266 F. 437, 439. ”