said Society then was, and from thence hitherto hath been 1849. MORRISON บ. GLOVER. 1849. MORRISON v. GLOVER. Association was of the value of 1207. and no more. It further recited, that the said Thomas Glover (the defendant) had become a member of the said Association, and subscribed for eight shares therein, numbered 36, 37, 38, 39, 40, 41, 42, and 43 respectively, in the books of the said As-. sociation; and the said Thomas Glover, according to the aforesaid rules, was entitled to receive out of the funds of the said Association the sum of 499l., in respect of his said eight shares; and for the security of the payments to become due in respect of the said eight shares, the said Thomas Glover had agreed to execute the security thereinafter mentioned; and that the said B. B. Cabbell, P. Morrison, and J. Long were the trustees of the said Association. It was then witnessed, that, in consideration of 4997. paid to the defendant by B. B. Cabbell, P. Morrison, and J. Long, the defendant demised the said premises for the residue of the term, except the last two days, to the said B. B. Cabbell, P. Morrison, and J. Long, their executors, administrators, and assigns, upon trust for the defendant as long as he duly made the payments and observed the regulations prescribed in the rules of the said Association in respect of the said shares, numbered &c.; but in case of default in payment, or non-performance of the rules, then upon trust for the said B. B. Cabbell, P. Morrison, and J. Long, their executors, administrators, or assigns, or other the trustees or trustee for the time being of the said Association. Then followed a power to the trustees to sell, and out of the proceeds to pay (inter alia) the costs of preserving the land demised from forfeiture, by paying the rent and performing the covenants in the recited indenture, and to retain in trust for the Association all sums which should be due from the defendant to the Association in respect of the said shares. The defendant then covenanted with the said B. B. Cabbell, P. Morrison, and J. Long, their executors, administrators, and assigns (inter alia), that he would make the payments, and observe and perform the rules of the Association in respect of the said shares, and that he would pay the rent and perform the covenants reserved and contained in the said recited lease. The declaration then averred, that the said B. B. Cabbell, P. Morrison, and J. Long became and were parties to the said indenture, and the same was made and entered into by and with them, as trustees of the said Society. It then stated certain of the rules of the Society, and shewed that there was due from the defendant, in respect of the said shares, and under the said rules, a large sum, to wit, 46%. 10s. for subscription money, and also a large sum, to wit, 201. 4s. for redemption money, and alleged as a breach of covenant the non-payment thereof. The declaration then stated the covenant by the defendant in the said recited lease to pay 251. per annum rent to the Earl of Cadogan, and alleged as a breach the non-payment by the defendant of a large sum, to wit, 127. 10s. due for such rent under the said covenant; to the damage of the plaintiffs, as such trustees as aforesaid, of 1000l., &c. Sixteenth plea. That, by the rules and regulations of the said Society, so certified, enrolled, exhibited, and filed, as in the declaration is mentioned, and which were in force at the time of the making of the indenture in the declaration first mentioned, and from thence hitherto have been and are still in force, it was ordered and declared, that in case any dispute should arise between the Association, meaning the said Society in the said declaration mentioned, and any member thereof, or any person claiming under or on account of members, reference should be made to arbitration, pursuant to the provision contained in the 27th section of the statute passed in the 10th year of the reign of his late Majesty King George the Fourth, intituled, &c., or of such other Act or Acts of Parliament for the time being in force for regulating or affecting benefit building socie 1849. MORRISON V. GLOVER. 1849. MORRISON v. GLOVER. ties; that, at the first meeting of the Association, meaning the Society in the declaration mentioned (after the enrolment of the said rules), five arbitrators should be named and elected, none of whom should be directly or indirectly beneficially interested in the funds of the Association (meaning the said Society) in the declaration mentioned; that, in each case of dispute or difference, the names of such arbitrators should be written on pieces of paper, and placed in a box or glass, and the three whose names were first drawn out by the complaining party, or by some one in his or her behalf, should be the arbitrators to decide the matter in dispute; that the claims and demands of the plaintiff in the declaration mentioned, were before and at the time of the commencement of this suit, and still are matters in dispute between the said Society in the declaration mentioned and the defendant, within the meaning of the said rules; and that the defendant has always been and still is ready and willing to refer the same to arbitrators, to be chosen in manner as directed by the said rules, according to the true intent and meaning of the said rules, of which the plaintiffs have always had notice.-Verification. Seventeenth plea.-That, by the said rules of the said Society, certified, enrolled, exhibited and filed as in the declaration is mentioned, and which were in force at the time of the making of the indenture in the declaration first mentioned, and thence hitherto have been and still are in force, it was ordered and declared, that in the event of all or any one of the trustees dying or becoming incapacitated to act in the trusts in them or him reposed, or in case they or he should tender for and become the purchaser or purchasers of any share or shares, in respect of which a mortgage should be granted, or in the event of any of the said trustees being guilty of any gross neglect or improper conduct (of which the directors should be the judges), or removing a distance of more than five miles from London and not having a place of business and an opportunity of being frequently in London, or becoming bankrupt, or insolvent, or compounding with his creditors, or being desirous to resign, the secretary, upon notice, in any of such cases, to be given to him in writing by the trustee or trustees, or any member of the Association, or upon complaint being made against any such trustee or trustees by any three members of the Association, in writing, should call a special meeting of the directors, having given first seven days' notice to the trustees; and at such special meeting, the majority of the directors then present might, if they thought fit, call on and compel the trustee or trustees so liable to be removed, to give up and resign the trusts reposed in him or them; and the secretary should, immediately after the said trustee or trustees should have so given up and resigned the said trusts, convene a meeting of the members of the Association, to elect in his or their place or places another or other trustee or trustees; and the trustee or trustees so resigning, or being superseded in the said trusts, should assign and transfer to such new trustee or trustees to be appointed in his or their place or places, all and every the funds, securities, and property, of or belonging to, or held in trust for or according to the rules of the Association, and all right, title, interest, benefit, or advantage, in or to such property; and such transfer should be made at the expense of the Association. That the trustee or trustees, so resigning or being superseded, should not on any future occasion act as a trustee or trustees; and that, in case the trustee or trustees, or any executors or administrators of a trustee or trustees so dying, resigning, or being superseded, should neglect or refuse to assign over the funds, securities, and property, or any part or parts thereof, he or they should be (if a member or members of the said Association) ex 1849. MORRISON v. GLOVER. |