The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-25
Supreme Cosrs-special Term.
Bsfors Hon. Judge Roosevelt.


TILE b0HUxLnk1 IN O0ukx AGAIN. 4.
April A.-Wm. s. Miller us the IuiHois Central Rail-
road and Robert and G. L. ScAuylz.-This was claim
against the defendant for surplus stock issued by the
Illinois Railroad Company.
The plaintiff resident Of the State Of New York, COM
plains that the LIST of May 1851 thu Illinois Central
Railroad Company with capital Of MILL IN Of dol
lars and incorporated with power to increase the same
issued from their office in New York certificate enti
Ting to certain stock Of the company The following is
q copy
OFFICE THE ILLINOIS CENTRAL RAILROAD Co.,}
Received Of rhos W. Ludlow 81 advanced % the hi.
his order with interest At the rate Of per
's
resolution Of the Board Of DreSSFs Hsssss On fhs sn
Treasurer Illinois Central Railroad Co.
The plaintiff also states that the defendants, Robert
and George l. Schuyler, were the owners OF the said
and that lst October 1851 thu schuylers sold and
transferred to the plaintiff hundred and atty Of the
transferred to plant one hundred and ATTY additional
shares Of the said stock The plaintiff also alleges that
Sreo"rs and ocers o the company that the
constructing the said railroad would exceed the capital
Of million OF dollars, and woad amount TO upwards
of 00 and they therefore to increase
1t accordingly, and the 18th November, 1852, the
company having previously issued, or authorized the
On the II tn November, 1852 the directors by resolu
on determined to the capital stock and issue
81 70 7s s.rss subject to PAYMENT Of IS psr
share, which subsequently distributed The plain
tiff now claims the additional shares to which he
q stakeholder, was entitled He demands Judgment
against the Illinois Central Railroad Company and
Robert and G. L. Schuyler that they be decreed to be
issued to the plaintiff five hundred and sixty two shares,
upon receiving from him the nstament Of IS per share
which the plaintiff offers 70 pay And he also demands
that the defendants be adudged to to the plaintiff
an amount equal the Depreciation in value of the
stock which has taken place since the 23d December
1882 that they be decreed to psy the plaintiff the
Of $50 per share the 562 shares and that in the
meantime, the company be restrained from issuing as
signing the said amount Of stock Mr.. Colt appeared
for the plaintiff in support Of the claim and read great
tss 81 EVIDENCE and the printed report Of
peared that in the month of May 1882 the Vice Pres
dent desired to proceed London to take charge Of
Of construction bonds and to facilitate the operation
by bis presence and advice. He was authorized to
allow interest of third Of the whole eventual ca
pal of SIT 600, the estimated cost Of the road)
for the sale of SO in the bonds and rateaby
for any part thereof for which the proposals
lions of bonds bearing interest at six centum per
annum, payable half yearly in London New York. at
commission of two and half per cent the principal
sixth 2s $3.50 shares) the eventual capital Of ST.
aggregate not exceeding siOO on each share.
From the financial statement appears that the ways
and means, provided amounted to $1l eco %,
being less than the stated in the report of Novem
~ Of
prior to the final Adjustment of that point In connection
with the London loan. The error is now corrected.
The construction bonds issued and to be issued,
amount to SO 900. Five millions bear interest at
per cent per annum the remainder at per cent. The
two millions of acres Of lands under mortgage for
less than $l1 600 O00 Eve and half dollars per
Nj Lord SEM for the Illinois Railroad Company The
defence is substantially that the shares only given
as collateral, and not transferred.
Decision reserved.