Washington City & Point Lookout Railroad v. Southern Maryland Railroad

Alvey, J., delivered the opinion of the Court. The original bill in this case was filed by the appellant and others, claiming to be creditors of the Southern Maryland Railroad Company, against that company and others, praying the appointment of a receiver or receivers, the sale of the property of the Southern Maryland Railroad Company, and for an injunction. Receivers were appointed, and an injunction ordered and issued as prayed. All this occurred in July, 1875.

The case has never been prosecuted to final hearing or decree; and the validity of the claim of the appellant is controverted, and has been put in issue by the pleadings in the cause. The State of Maryland, being largely interested by reason of a subscription to the stock of the defendant railroad company, was allowed to intervene as a party to the proceedings. Subsequently, upon petition filed by the complainants, and by the State, an interlocutory order for the sale of all the property, real- and personal, ¹⁵⁵ of the Southern Maryland Eailroad Company was passed on the 18th of April, 1818, and hy that order trustees were appointed to mate the sale. This order was obtained under the provision of the Code, Art. 16, sec. 129; hut it was never executed; and afterwards, application was made hy the principal creditors, both as complainants and as defendants to the cause, representing that it was necessary, and for the mutual interest and good of all concerned, in view of, and in order to make effectual, a re-organization of the Southern Maryland Eailroad Company, that the receivers should he discharged, the injunction dissolved, and the interlocutory order of sale rescinded.

The State acquiesced in this application, as being the best thing that could he done under the circumstances of the case, and all the creditors of the Company, except the appellant, seem to have concurred in the propriety of the proceeding: or at any rate none other than the appellant opposed the application. The Court, after hearing the parties, hy its order of the 23rd of May, 1819, accordingly discharged the receivers, dissolved the injunction, and • rescinded the order of sale; hut retained the hill of complaint for the benefit of the appellant, and such other creditors as may not have united in the application to the Court for the rescission of its previous orders, with liberty to proceed to establish their claims. There was tendered and accepted by the Court a good and sufficient bond for the payment of any amount that shall he adjudged to he due the appellant on final hearing. It is from this order of the 23rd of May, 1819, that the appellant has appealed, and, hy express terms, the appeal is taken from the order only so far as it may affect the appellant alone.

Eo other creditor, therefore, so far as the record discloses, makes any complaint of the order appealed from. And, upon careful consideration of all the circumstances of the case, this Court is clearly of opinion that the appellant has no good and substantial ground of appeal against that order. ¹⁵⁶ 1. In the first place, the discharge of the receivers furnishes no ground of appeal. It is a settled principle that the appointment of a receiver determines no right, nor does it affect the title of either party in any manner whatever.

The receiver is the mere officer of the Court, and his holding is the holding of the Court for the party who may he entitled. He is appointed on behalf and for the benefit of all concerned in the cause, and not of one party exclusively. And as the appointment determines no right as between the parties, hut his holding is simply that of the Court, his discharge affords no ground of appeal to