The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-01-29


sdeut Judge two hours and half in reading it. The
decree in favor Of the Kentucky institution and an
order made, referring master the computation of
the overissue OF spurious stock and the amount Of in
This decree and order is final no appeal being allowed
by the laws Of this State. Az this highly important
case affecting vast interests all the Union, and
the principles decided of the highest moment to
every corporation, particularly OF banking character
in this and every other State send you the substance
luminous (ninetythree pages1 for newspaper publica
ton
LIST. The Kentucky Bank, though a foreign corpora.
tion competent to contract in Pennsyvana and to
establish an agency for the transfer Of its stock.
-, 3D. That such contract was neither in opposition to
wealth of Pennsylvania.
3D. That the schuylkill Bank, as banking corpora
tract
4th That the Kentucky Bank in the creation of this
msds prescribed by its charter
Sth That the Kentucky Bank was responsible to the
agency Certainly SO to Be bound to make
sation to such holders.
9th. That the Bank Of Kentucky having actually made
such compensation, had its remedy in equity, against
the schuylkill Bank for indemnity defaultng agent
and that under the act of 1912 passed by the Lega
ture of for the relief OF the Bank Of Ken
lucky that bank properly represented the holders of
spurious stock to whom had not made compensation
7h. That the liability Of the schuyk Bank for the
acts of its cashier in Issuing the spurious stock was
coextensve with the entire indemnity Of the bona de
purchasers Of said stock
9Th That in point Of law as we'll as in fact the schuyl.
kill Bank in its corporate capacity was from the 18th
of March, 1885, to the 10th of December 1882 the trans
fer agent Of the Bank of Kentucky and responsible for
the defaults Of its organic funetionares in the
cution Of the duties of such agency.
perfectly regular whether regarded with reference to
the general principles of equity practice the special
jurisdiction given to this court the act Of ls42 before
referred to.
The opinion an able ons and evinces an amount Of
legal ability, and an industry rarely found and for
which Judge King is remarkable. The amount which
the Kentucky Bank is entitled under the decree in its
favor about million of dollars, will swamp the remain
ing capital Of the Schuykl Bank and those whs have
recently been speculatng in its stock will be severely
bitten Its chartered privileges, however remain
tire and they have been valued at Ave dollars per share
Since the decision Of the court has been announced the
stock Of the Kentucky Bank has gone up to 90.
The meeting last night at the Museum, originally
intended to call the attention of the people the de-
fenceless condition Of city in view Of with Great
Britain but the news yeu sent from the Hbernia,
robbed the meeting Of its principal interest, and
converted into Dry Dock meeting, one at which to
complain OF the Congress Of the United States for avor
ism to other Navy Yards, such as New York. Gosport
Boston, &c &C., and total neglect of Yard The true
cause for which, secret OF which may be summed up
in the inactivity want OF and tact in
members OF Congress, the advantages Of the station
at least equal TO those of any other In the country
Sales OF Stocks at Phiadelphia.
FIRST BOARD jan $3.50 35.l0O Lehigh Interest, Al
5000 Texas Bonds 8, 30; IL shs Wilmington RR, s0t
$500 State S. 7o 5000 do 7o3 1000 do 7o 1000 do 70f
5000 do 70l; 400 shs Wilmington RR 6s3 900 do days.
ssh 100 Reading RR, wn, 29 400 do cash. 2ef $500
Texas Notes, 81; 1000 do, B days, 81; 1000 Texas
Bonds. 80; 30 shs Nor Bank of Kentucky o. 200 Le
high SIS, 46.
AFTER BoARp.-$3000 State 6s, 70t 100 shs Reading
RR SIS, 2gi so United States Bank S; so do Reading
RR, 29l 5000 Lehigh IS, 40.