New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-06-25

projection Of that cer6cse transfer should Be permts< -
he hodsr upon the boks Of hs Company Th,t sneh
5.s -Sus s literally folly ,Ss .Ey ps tss ~ ~
hitting hem hs fights Of voting snd ivisss,
Z eororer' under the eearssr-anS Y eeoirns a, f.es
properly cempsn, "a. eight thousand ave haadrol io
lars ogt Of hse naSDs Of dollar. Thss AZ III. s1uns ss.sss
That nj. the import snI hi. the ssisat Of the odd.
pcoop Of he IN rS: sSd ias . o.
an, saprs.s Or Implied N the charts, any sts
nsIt and sosnd thIusvss BY H. Tha, had Defendants
The books demanded been he ds,y az hs direct.
o scsrtsrsd the shares och and hodsrs
IN the stock he Company .Ss,ins from .s.r. rs
esslsse we1 ~e 1s soSso IL he s% q md
SECTION upon each That fthe Director, or nag.
s.a ,it on beb.f Of thernelve, and others similarly
.uste6 compel Il the proportion o. the :paou stock
70 go 81 such stock stated IN the s.swer urrendsr Of
one half the shares Of each genuine soe s ana @ Ss
should NOT DO practicable be neonyonient hsn an ss.s
ent 10 coycT the of the spurious soei would .
-r,si and sasctna That there 10 not sufficient eoanA
@.es sps PC :. to cary on this method q dong justice e
al Tat relation to the snfsi s.s ana IN. geessss Of Ia.
Of .herehOdep for the purpose q .9ns AZ h
an rte, act toward the ssts and that 4 these hold
eT. OF ceftfes admitted basis 2, to me soJ h
os' he me Of pubic policy which dictates pasea Of
s:. ~orS no, And would be uasw
@ And q Ss coa .I ~ that thee
hart for
question between these claimants and the holders OF ahaa'
tened soet s.,u, ,,. .,os,boia.rr
such apparent unlimited enabled him TO ena me
seIhOlteIs perform The .ta.s b, him pro-
yded tie claim upon such certificate asserted ~ 'SH" a''
g. That there Is no evidence show that Kyle wa sws-e Of
the fraud attending the issue Of the stoSf or ns 90 s .;
self and he Company tho possession Of the certificate before
eis,d right 70 Kyle yet after the Psass
responsibility his and uld have had fu rent 20 w
osp DC , ~ he hand. Of Kye the rights psnts
uuoer g. being holders would not De enecteo ~
Thing which would have rendered insnse'oA 'A' "-"
That the extent force and nature q the obligation inpSssa
That without demand sus. to peri, su.es no po.
.od ,Ss peesnary interests epon shs
prneps stated all calm e the plaintiff. would have esea SAT-
eaeS.,y on .ccOupt Of s refusal. and on no Other o.na
ehsieer That under the CT 2, u. ~. "
equitable relief By 2. ne ss
S :. sdm. Of the market yslus Of tho
stock has been foune and hence, that inc
be sfhmed .
BoswoRrH, J.-By the defendants charter its capt.
ital stock was limited TO So 900 900, and was to 30
divided into shares OF 500 each. II declared that inc
shares should be deemed personal property, ana DO
transferred in such and at such places az the
bylaws Of the Company SHOULD direct-S2.
1t gives the Directors full powers to make and
prescribe such bylaws rules and regulations as
g, they shall deem needful and proper ,oucnng .no
T.
estate and effects of the said Company, &c. ana
the transfer of shares, the, duties and conduct o.
otlio,rs aud their servants'-VV 4, 7.
Soon after the charter granted, and IN pufsu-
arse of r. bylaws and rules in relation to transfers
of and certificates of its stock, we're adopted by the
Company, and they continued in force until af!or the
5th Of July, 1854. They provided that the pIlncip~
tran sfer office should be in the City OF Nsw-havens
but that transfer agencies might be established, by
resolution of the Board Of Directors In New and bos'on.
and all transfers Of stock office houd 90 nado un
d. In
such Of assignment and transfer as might IRON
time be made, ordered and appointed by me poaao
They provide tina. certificates shall be In sh f'r
Directors may from time to time direct bat that after ees
s5 n.s Of s,tss ns be- d unss the &
or kad only special resolution Of tho board
tbs sb. BE- %ss. ia the trn,sr Books Of the Office
which stock proposed TO be r.n.ersd ses stand % .ss
tbs be transferred had been susi II must be aen
by the stockholders by en- attorney appcnted
| by power of attorney in the usual form.
Soon a the q. po%9sny s sad .soos
Athe y Of where trsn'fe stsnsy yves asy es
The isep ns Of IL transfer books making
Of certificates of stock whenever any transfer thereof
should be made by any former owner and new csrIIsts
SS be sq.sS y h ii sSS
the chere and said rules and regulations any transfer
the defendant Such certificates OF uniform charac
and authenticated by no signature except that o.
aq'.oa ~Sii ssfiSs;,s.
Of stock such admitted to be genuine and such tey
On the 18Th Of May 1884 the plaintiff loaned Kyle slaoe
Ssnmsn Of the stock named in csri6cate aud power
to IsD'fe it, cOlatea security There was other collateral
security but requires comment Kyle paid 600 Of tho
loaned to him, aud and nsolven Prior TO tho
first Of January the whole 5000 90 Of stock had been
paid in aud cet.aate' therefor v'ed @ The bona ds
oe who held them when the n'as made tsiI Oss and
Of the genuine stock of the company was not
.ned for lawful pu pose whatever but was fraud on me
But The plaintiffs had taowodse notice Of this bat on the
contrary the said loan good faith without having
they the cer6cats suppose that h
did represent genuine stock or that Wa not properly
| issued.
On the 5b Of July 1854 the defendant disco versd that
had Issued sudaenty for h 0- c private purposes
The anti before bringing this action applied to tho defend
ant end presented at it, transfer ofes m this eera
permission transfer the stock the defendants ,ooks which
on the ground among Others that the stock
puous and The Certificate Yves fse and forged The stis
further required the defendant TO reimburse and 70 them tbs
market value shares Of their stock which the defendant
| fused 10 do 10 " any part thereof
judgment given special Term In favor of the PLAINTIFF
fer 4s72 oo the market taue Of IS shares Of defendAnrs
stock the time tuh demand FOR reimbursement made and
which les. than the due from Kyle TO the PLAINTIFF
Of said loan From that Judgment the defendant
sIpeae6 There other facts admitted by the peadnss sid
specially und but TO be stated IN order 20
int the aas05, upon The R,ORss Sss OF which
must be conceded, think that this certificate ut
| teIly void in the hands Kyle
ument Of transfer and which, by its terms assigned TO the
plaintiffs shares Of e stock Of the company, recise1
psny Intellectual the plaintiff title any stock
Of company for the that Kyle owned Hs eod
rot BY mere and delivery Of instrument q
transfer convey stocks night stocis when he had night
| TO any. either legal or ,qui' able
the question whether the suns Of such certificate BY liz
enser ssnt under tho circumstances under which this
de puIcLsssf and holder the Certificate and Of de
stock which declares owned BY tho person named In IT, and