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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 391   View pdf image (33K)
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THE U. S. INS. COMPANY VS. SHRIVER ET AL. 391
Now the property contained in the list proved to be in the
handwriting of Mr. Freeman, which has been spoken of before,
marked complainant's Exhibit, No. 3, and which Atkinson says
he found among the papers of the Company, is put down at
the aggregate value of $137,410, free of ground-rents; and in
this list, this particular piece of property is valued at $16,000.
And in complainant's Exhibit No. 1, which is copied from 'the
day-book of the United States Insurance Company, and from
which is excluded some items contained in the list furnished
by Freeman, this same property is likewise valued at $16,000.
Now in the absence of any other list or valuation, I think it
may very fairly be inferred that this list, marked Exhibit No.
1, is a copy of that which was made by the committee, and
that they assumed the property in question to be worth $16,000,
at which Mr. Freeman put it down in his list, and which he
says was the entire value of his interest in it, making no
deduction for the lien of the General Insurance Company, of
$15,000. Mr. Freeman says the committee made a full
report, which he has seen in the book of the minutes of the
daily proceedings of the Board, and that the books were kept
with great regularity and fulness. And Mr. Atkinson says he
has made a careful search among the books and papers of the
Company, and has not been able to find any other list of the
property, than the Exhibits No. 3, in the handwriting of Free-
man, and the entry of which Exhibit No. 1, is a copy.
Under all these circumstances, there is certainly no reason
to believe that there is any other list, or that the Committee
appointed by the Board knew of the existence of the lien of
the General Insurance Company. If they had known of it, it
is difficult to imagine a reason for not noticing it.
Something was said in the course of the argument at the
bar, upon the subject of marshalling of the securities, and it
may at some future stage of the cause become necessary and
proper to apply that doctrine to this case. The general prin-
ciple is a familiar one, that if one party has a lien on or inte-
rest in two funds for a debt, and another party has a lien on
or interest in only one of the funds for another debt, the latter

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 391   View pdf image (33K)
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