SUPREME COURT

Dominion, Volume 9, Issue 2717, 11 March 1916, Page 15

SUPREME COURT

A BOROUGH'S OVERDRAFT

In the Supreme Court yesterday, His Honour Air. Justice tlosking delivered bis reserved judgment in tho originating summons, in which the plaintiff was ip '} 01 ' 0ll gh of Taurangn, while tho defendants were the Bank of Now Zealand and the Attorney-General, mil® CW.t , lvns asked to decide whether it is legally eompotent for the plaintiff corporation to raise under Section 10 of the Local Bodies' Loans Act, 1913, Paragraph A (that is by special order and without taking the steps described in Sections 8 to 12) a proposed loan of £4300 to repay out of •such loan the overdraft of £2971 4s. •■id. and other liabilities to the extent of £1336 os. 10d., notwithstanding that such overdraft and liabilities we're incurred after the commencement of the last-mentioned Act." Honour's judgment returned: a negative answer to the question raised, but it was pointed out tliat the Borough could proceed ill tho required direction if a poll of ratepayers favoured the proposal. The Attorney-General was allowed five guineas costs, but tho amount of the Bank of Now Zealand's costs was reserved, with liberty to npply to the Court if the parties could not agree lipon the matter. At the hearing. Sir Jolui Findlay, R.C., with him Mr. J. L. Stout, appeared lor the bank, while tho SolicitorGeneral (Mr. J. AV. Salmond, K. 0.) appeared for the Attorney-General. MOTION FOR A NEAV TRIAL. His Honour Mr. Justice Chapman had before him in the Supreme Court yesterday afternoon a motion by the defendant for a new trial in the case of J. 1. Hynes v. the AA'ellington Patent Slip Company, litd. The original claim was for. £250 damages for injuries sustained by Hynes while ill the employ of the defendant company, and She jury of four returned a verdict for tl;o plaintiff for £100. Defendant company's motion for a new trial was made upon the ground that the verdict, was against tho weight of evidence. Mr. T. Ncave appeared in support of tho motion, which was opposed by Mr. W. Perry on behalf of the plaintiff. ' His Honour reserved' decision. PAPAROA COAL COMPANY, LTD. Matters connected with the Paparoa Coal, Company, Ltd., in liquidation, were discussed before His Honour Mr. Justice Hosking in the Supreme Court yesterday. In September, 1915, tho company went into liquidation, and in November an action was commenced in the Supreme Court by the debentureholders to settle the ownership of certain 'moneys. It was then decided that tho liquidator was entitled to the balance at the bank, and t'hat the debeii-ture-holders were' entitled to enter into possession of property under the Mortgage Extension Act. Further questions were reserved for future argument, and one of those came before the Court yesterday, when His Honour was asked to say whether the liquidator was entitled to insurance moneys payable on the manager's house, or wnether the debenture-holders could lave the' pro-' perty reinstated by the insurance company. Mr. C. P. Skerrett, K.C.. with him Mr. R. Kennedy, appeared for the de-benture-holders, while Mr. O. C. Mazengarb appeared for the liquidator. After hearing legal argument, His Honour reserved decision.