Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-02-17

SUPERIOR CouRT-Fnday, Feb. l6.-Before Judge
Jones.
Hartford and New Haven Rail Road Company vs.
Israel Footc.-This was action brought 10 recover
the sum of IS, 600, the amount Of two inslalments
due on 240 shares of the capital stock OF the above
company.
highly respectable stock broker, subscribed origin.
ally for 10 shares Of this stock, which he paid $40
a share, in common with the other subscribers
He also bought, in his own name, (for some one
else whose name did not appear throughout the trial
go other shares OF the same stock, on which sic a
share was also paid. Before the two instruments
lone for $40 share, and one for IS share) became
due mir. III. became alarmed las he tesiifed) at the
state Of the monetary concerns and transactions of
the COMPANY and concluded that he would not nav
the instruments He swcre that the company drew
large sums from the bank which he knew could not
be paid out in proper way r current expenses and
that the cashier of the bank told him that the COR
pany had violated their contract with the bank.
On this account he decided not to pay the install
ments; and TO avoid the question OF the privity of
contract arising and being tried his own shoulders
he transferred the 240 shares TO Mr.. Israel Foote
1.-THE defendant this cause for Foote to hold them
in trust for him.
Mr. Huntington testified also that the 240 shares
which were thus transferred to Foote, always belong
ed 10 him (Huntington;) that Feote his trustee al
his requests that the transfer was made at his request
that the transfer was not made until the 18th of May
1885, after the InstameRt was due and payable, and
not until the books re opened after the 18th Of
May; that he always held the certificates t then;
that the certificates and transfers were snt-dated:
that the president knew the shares belonged 10 him
(Huniinqton,) before the suit was brought; that he
transferred 10 shares 10 Foote his trustee; that
Colt Carpenter transferred the rest 10 Fooie AT his
request that he paid all the money on them; that
theirs was no loan them; that his emily reason for
not paying the instruments was the conduct Of the
company in relation TO their cash concerns; that he
had already advanced money 10 pay the expenses of
this suits and whether legally bound or not to indem-
Nifty Foote If he lost this suit he considered himself
bound in honor so to do.
This was the whole of the case The fact OF the
transfer Of the shares to Foote was proved TO have
taken place on the 18th Of May, and the certificate to
proved that the stock was standing in Foote's name
on the books fthe company.
The question then was started by the counsel for
the defendant az TO whether Foote could be made liza
BILE, he being q mere agent. TWAS also commended
that there was no pnvty Of contract between Foote
and the company, he not beng subscriber OF an
original stockhoder, and therefore was not liable
Judge Jones stated that he had no settled opinion
on the law Of the case 40 il now stood; but he
thought that roote by allowing the shares to remain
in his name was bound TO pay the instruments. The
whole point OF the cssc, however was question Of
law, which would have 10 be decided hereafter.
A verdict was then taken pre- Jorno for the plain
ffs subject 10 the opinion OF the court on a case TO
be made and adjusted; with liberty 10 turn the same
into SPECIAL verdict or bill Of exceptions, and with
leave to the Court to enter non suit subject to ad-
justment.
The same COMPANY versus Huntington.
THIS was the next salt on the calendar and ver-
dict was taken for $1,000 As in the preceding case,
subject TO the opinion Of the Court &C., with the tes
tmony Of Huntington TO be striker out he being in
law an interested witness In the case, -