R. R. v. . R. R.

It is true that for debts due to receivers of a railroad company debts due by the company cannot be used as a counterclaim. To permit that would much embarrass and in many cases defeat the very object of the receivership, which is to keep the railroad in operation as "a going concern," when otherwise it (1080) would be strangled and its operations brought to an end by the pressure of corporation debts. But against debts due to receivers, debts contracted by such receivers are a valid counterclaim and set-off. The receivers of the Richmond and Danville Railroad Company operated the line of the…