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624 THE CAPE SABLE COMPANY'S CASE.
with a reservation of his determination of the matters of the two
last bills, passed the following decree on the bill filed on the sixth
of August, 1822, and the answers thereto,
22d May, 1827. —BLAND, Chancellor. —Decreed, that the parties
account with each other concerning the matters and transactions
in the proceedings mentioned: that the auditor state the account
relative thereto on the evidence in the case, and such other evi-
dence as the parties may produce to him on notice, as usual in
such cases. The account to be returned to this court for further
order, and subject to the exceptions of the parties.
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The auditor made and filed on the 8th of March, 1828, a report,
dated on the 29th of February, 1828, in which he says, that he
had examined the proceedings and the voluminous documents pro-
duced on the part of The Cape Sable Company; and that it fully
appears, that the necessary expenditures on account of the com-
pany have greatly exceeded the moneys received for stock, mate-
rials sold, &c.; and therefore, that there is nothing due for divi-
dends or profits on the shares claimed by the complainants. The
accompanying statements shew, that the company is now in debt
to the amount of $34, 294 91, exclusive of interest. Those state-
ments exhibit a result different in some degree from that of the
accounts heretofore prepared and filed on behalf of the defendants.
But this difference is to be attributed chiefly to the different forms
in which the accounts are prepared. There may be some diffe-
rences in the details; but if such exist, they are of trifling amount,
and cannot affect the substantial result. The auditor has consi-
dered it unnecessary to institute a minute comparison between the
two statements; because, after deducting all questionable charges,
if such exist, the company would remain in debt to an amount
greatly exceeding the value of all their property. The bill con-
tabs very grave charges against the defendants; impeaching their
motives, and mode of managing the affairs, and in particular, the
pecuniary concerns of the company. And the auditor has, in his
character of counsel for the complainants, frequently insisted upon
those charges. It is due to the defendants and himself to declare,
that an investigation of the accounts has satisfied him, that all the
moneys received for the use of the company have been promptly
and properly applied, by its agents, to the uses of the company;
and that those agents have been frequently in advance to a large
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