Excerpt from A Treatise on the Law of Receivers The second edition of this work appeared in March, 1886. Since its publication nearly five hundred cases bearing upon the law of receivers have been published and appear in the present edition. The entire work has been thoroughly revised and the book has been much enlarged, the principal changes be ing in the chapters upon Actions, Corporations, Railways, Judgment Creditors, Real Property and Mortgages. In the preface to the second edition it was stated that the law of receivers over railways, while largely the growth of recent years, had not wholly emerged from its formative period, and that considerable modifications of existing doctrines might still be expected. The correctness of this statement is shown in the many new cases which have been embodied in the present chapter upon Railways, especially upon the topics of Preferred Debts, Actions against the Receiver and Receivers' Certifi cates, the doctrines pertaining to which have been largely modi fied as the result of the later decisions. No feature of railway receiverships has been more prolific of litigation in recent years than the extent to which the ordinary contract indebtedness of railway companies may, in the event of a receivership, be pre ferred over the claims of mortgage bondholders. The tendency of the later decisions of the Supreme Court of the United States, as shown in the present edition, has been to restrict the right to a preference to much narrower limits than had been fixed by the earlier cases. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.