New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-02


The ST. Loris ReDzLlicas OF Friday last ssys;
At the present term Of tie Common Pleas Ceurt
suit dee dei growing Of the loss by the AK
OF Missouri Of the sun OF sls0 600 some year slace
lhe bsnk chu.ed the arrest Of y. Chdr, Jr, for the
en- bezzleue ut Of the money, but on full trial the
jury acquitted him Of The charge. The present Jade-
ne was IN suit Of the State IL Missouri to the use
81 y thllos, Jr., against j. b. Brant and Others,
then Directors Of the Bank
sun Was brought BY Cnids on bond given by the
Directors Of the Bank at the time they sued out an
attachment and levied on the property Of the pls;n.
tiff The defendants did not defend the case bat saf.
feTed nonsuit The instructions OF the Court under
the Law, cut oct all the actual expenses in .urred by
Childs IN his defense-ihus narrowing the csss dorn
10 question Of dollars and cents Under these in
suuotons the jury returned verdict for Chis in the
sum of g., $50.
This il is understood is the second casedetermued
in favor of Chds and the aggregate damages amount
TO $40. The AaDk, il is presumed, foots the bill
as the Directors were acting for her interest and
upon the advice of her counsel
meeting of the holders of New.Haveu old
Stock was beld last evening" in the large chapel Of
the University, pursuant to public call signed by
CARPENTER & vermilye, Samuel wilets, N. r. Cobb
& Co, Grinnell, Minturn & Co. Genin & Lock wood,
Brown. Brothers L. Co., Jacob Little & Co., and
Henry Grinnell, inviting all New-York holders Of
old stock to meet for the purpose OF seeing If some
plan could not be agreed upon to be presented to the
stockholders at the meeting in New.Haven on sth
inst, by which speedy and amicsble settlement OF
conflicting claims upon the road might be attained,
in order TO adjust as soon possible the difficulties
and endorsements now surrounding the property.
AT O'Clock when the meeting organized, there
were from fifty to sixty persons present. Mr.. vef-
mile called the meeting TO order, and nominated Geo.
W. Blunt for Chairman, who was unanimously
chosen. James II. Stebbins was chosen for Secrets-
y. He read the call OF the meeting a. above, and
added that Brown Brothers, and Henry Grinnell
signed under the proviso that the purpose should be
that the Railroad Company should assume the over
issue.
The Chsir ssid il was expected no one would take
part in the proceedings expect be were holder of the
old stock; each speaker would give his name and
state that he held old stock.
Mr.. vermlye read a preamble and resolutions.
The preamble set forth the expedency Of comproms-
ing with the holders Of fraudulent stock, in order to
save litigation The lst resolution stated that the
holders Of old stock wish compromise. The ed re-
commended the appointment Of 9 Committee to CON-
pronise to request the holders of fraudulent stock to
name Committee to confer with them and TO report
at meeting Of stockhodep The Sd declared that
the Board Of Directors should be requested TO cooper
ate with the Committee in coming TO compromise
The 4th declared that the interest OF the holder OF I'M
disputed stock demanded adjustment of the claims
of those who held disputed stock The 9Th said that,
whatever the legal merits might be, equity and moral
ity demanded compromise with the holder OF frau
dulent certificates. Judge Roosevelt procured al
addition so that the resolution read as applying only
TO holders Of fair and bona fde claims The 9th sad
that Reputation of the fraudulent stock would excite
distrust in securities Of that kind generally.
The resolutions were seconded by Henry GrinneI.
On request the Chair read the frst resolution oy
itself After a short pause no one offering any OBJ
seryation the Chair put the resolution and declared
IL carried with three dissentient voices. DIVISION
was called for Judge Roosevelt then rose and said
much had been said on both sides, and well SAID, and
m hasty decision should not be come to. die
tbonobt the holders Of the fraudulent or felo-
NOUS las it perhaps might be called stock might
have in some cases, equitable CLAIMS IN
other instances there might be neither law nor
eouity 10 support their demands. The mere pos.
session of a paper bearing signatures that had
the appearance Of being fraudulent or forged, would
not Itself constitute claim against the holders OF
good stock. Those who took stock, paying It's fuii,
fair market value a. genuine stock, had strong
case, which had been strongly presented IN tne pup
lie papers aud in published opinions lie would not
say that they had not claim in law and equity, but
the question was not easy Of solution. But IN cases
where there OF suspicion and IN Iysd ~, ~
e. ,,ah AZ wore loft MUCH III tno
dark il would be injudcious TO resolve Gil at once
that Me stock should be treated as coma tide stock
There was another difficulty. II the stock were as
sued without the interference Of the proper Judicial
tribunal and ii il should be afterward found that
such assumption were wrong, where would the two
millions or so thus wrongly spent be to be looked
fori Suppose, for example, the party who
produced all this difficulty, had laid aside for the
benefit Of bis socsled family $780, 600, and that thls
sum could now be traced existing. II not in dollars
VET in some shape Should that remedy be allowed
10 pass byl Should we asked Judge r. divest our:
selves of this recoursel say u the case be so, and
emphasize this, having reason so 10 do. There may
be gentlemen here that will give US information on
that az matter Of fact. 1t has been said, unless
these shares are in some way assumed all confidence
will be shaken in such investments. The
Chair called the speaker to order he
thought the question was on the resolution.)
Judge Roosevelt thought he was IN order, az speaking
on the preamb the chair thought not, but gentle
man said the chair was too basty. Inc char regret
ted if be was so, and begged the Judge to proceed.
Judge Roosevelt continued: That argument would
anpiy he said two ways because the distrust would
be equally felt by those who, in buying certificate
could not know but that they were only getting ha
value. The Judge then alluded 10 small piece OF
history Of the New-Hayen stockholder. Some I'VE
wears ago there was deal of out door talk, and at
meeting of stockholders gentleman most thoroughly
msrepresented with the suspicious which were ahoa
offered resolutions Of inquiry. In the consequent pro-
ceedpgs, resolution was passed, which, had 1t been
followed out right this meeting would have been un
necessary That resolution was dated, said Judge
RI. | think. In August, 1919; Il declared that
there 4 should be kept a monthly corrected list
Of al the stockholders, open to the inspection
Of all interested. Has that been done The late
transfer Agent said that not even bis brother part
ner bsd any access to the books Of the Company !
Member. of the Board have derived very large bene-
tts, ii am correctly informed they bad no duties
save TO themselves They may be under liabilities to
the stock holders-should the rights corelatlye TO
these liabilities be thrown away thoughtessly There
i view suggested in the preamble and resolutions
in which agree, T. e, the expectancy of having the
questions promptly disposed Of Litigation Is curse
to individual and still more to bodies Ike tnls
Were the jurisdiction in this State only, the result
would be early attained because by the laws OF New,
York, the parties see to the state o. iscts ana