HOYE v. PENN. 41

of its value; and that a sale on terms would be more advantageous
to all concerned. Whereupon these petitioners prayed, that the
land might be decreed to be sold upon such terms as might be
deemed proper, &c.

25th October, 1823.—JOHNSON, Chan.—It is not perceived, that
there is any necessity for a decree on the subject of this application;
but the trustee is authorized to suspend the sheriff's sale; he is the
legal creditor, and has the control over the judgments, and can give
such directions as shall appear most advisable, as the person who
has the equitable title, the trustee, through whom the legal title must
pass, believes it will be most advantageous for the property to be
sold by the trustee, any sale they may make, not prejudicial to the
interest of the complainants, will be confirmed. The trustee having
made the sale, will report the same subject to the order of the Court;
if convenient, he will consult the complainant interested as to the
terms of sale. ______________

On the 9th of June, 1824, the plaintiff, Hoye-, and William Darne
and Charles Gassaway, executors of the late Charles Gassaway,
who was the assignee of the late Benjamin Stoddart, filed their
petition, in which they stated, that the land which had belonged to
Nathan Waters; and which had been sold to James Ferree for more
than enough to pay one half of the debt due to the plaintiffs, having
been ordered to be resold, because of the non payment of the
purchase money by Ferree, had been resold accordingly; but, that
in consequence of the depreciation of land, and the scarcity of
money, it had not, on the resale, sold for a sufficiency to discharge
one half of the debt due to the plaintiffs; that the purchaser, Ferree,
and his sureties, were insolvent; that the trustee was about to pay
the surplus of the proceeds arising from the sale of the estate of the
late Charles Penn, sen'r, to his grantees and legal representatives;
which surplus was liable to these petitioners to make up the
deficiency due to them, resulting from the resale of Waters' estate,
and the insolvency of the purchaser thereof, and his sureties, (b)

(b) The South Sea Company of England was created in the year 1710, under the
sanction of a statute, (9 Anne, c. 21,) and had had its connexion with the government,
from time to time, extended until the year 1719, when, by means of various misrepre-
sentations and fraudulent practices, an act was passed, (6 Geo. I., c. 4,) declaring,
that its capital stock should be increased, and its franchises new-modelled, by which
it was almost immediately made the means of spreading abroad one of the most
mischievous delusions that ever beset a civilized people. All ranks and classes were
led to believe, that immense wealth was to be at once acquired by this South Sea

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