The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-04
Supreme Cou,t-special Term.

INFORMANT DECISION IN RELATION TO FRAUDU-
LENT ISSUE OF STOCK.
The leope ex rel James h. Jenkins and John a. Cond1
Us The Parker Tein Coal Company, Joseph Noble and
Others.
NORRIS, Judge.--Motion by plaintiffs for mandamus,
requiring the Parker Vein Coal Company and the other
defendants president directors of company to
permit Condt and Jenkins transfer stock the trans
fer books of said company and also to permit transfers
to be made on said books by all stockholders of said COM
psny who may require the same to be made, according
to the regulations Of the company and the usual
of the business. The facts in the case established
Parker Vein Coal Company is incorporated by the State
of Maryland, with capita, Of not exceeding three mil
dollars each being So 600 shares Prior to June 1884,
of the officers of the company, who were legally
stock, fraudulently issued false certificates Of
stock sss to large smoant; SO that prior to June,
over 10000 shares-bsng 100, 900 certificates
of shares Of stock than the act of the Legislature
authorized These fraudulent issues Of false
of stock, upon their face, precisely similar to the
genuine certificates II Is therefore impossible by in
speotion TO designate which genuine and which
false On the 18th Of June last injunction out of
the Supreme Court issued against the company, &c,
forbidding the transfer stock by the officers Of the
company, which injunction is still in force The plain
tss in this suit were not parties to that suit 1t ar
gucd by the parties TO this application that this motion
also be deemed motion TO dissolve that injunction
The Parker Vein Coal Company have become insolvent
and an assignment Of all their property and effects has
ts in this suit and hold certificates of stock which
they have sold and desire to transfer, and stock
brokers' aud they require the Of transferring the
stock of this company to facilitate their business opera
tons Certificates Of stock only evidence Of the
existence of stock and of lite ownership These false
certificates are false witnesses-fnlse.s pretcnces-
there 10 truth in what they assert. This frau
dulent issue Of false certificates Of stock cannot in
crease the capital OF the csnapany, lessen the
par value Of the shares increase the number Of shares
No act OF the company of its officers directors or stock
holders whether by agreement fraud, increase
the capital Of the company decrease the nominal par
value Of the shares increase the number OF shares
the legislature alone possess such power therefore,
there not and cannot be hor Of act Of the Legis
aturc stock represented by these false certificates
To the books for the transfer Of stock would lead
TO the circulation and transfer Of these 600 false
t6cates as genuine; would increase the difficulty Of
tracing the genuine certificates Of stock would change
the evidence In relation TO those certificates and would
additionally holders Of stock and the community
to injury The evidence Of the parties interested must
be left where stood when the frauds discovered
until the courts by adjudication the Legislature BY
enactment, dispose Of the matter. For these
deny the plaintiffs motion. In arriving at this concu.
sion have not considered the question whether
damus would be proper remedy the merits Of the
question with the plaintiffs