The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-01
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sxyr. 80 -ceo39e caypaar ana otAa1 n ne Meas York
Ind ,s EG;lToa5 % mo complaint In snts CASA
IL by pAnls, alleging hal they stOokhoders
IN he ocrporsucn and aled A. wen On their behalf ~
Of all stockholders who desre 70 avail themselves
sxrcof scd Who wirg coutrbcte 70 the sIoense
~ scs,cn TIC alleges tas by reason Of The
frauds Of the 6Ansfss agent Of the CORPORAL larger
amount Of stock therein has BEEN Asued than was saths
rxcd by The OF Incorporation tnas sucr stock ~ &C
N; Tco With the original spd genuine tras twpcssi
bic 10 ss pgush the rom .he othev and that In con
scaus o: he refusal Of The dirccsoTs and tho her
$50. Ahods said stock, large claims have
e~ea preferred assoss tho o"~n~sliou, and which
COW IN litigation, plaintiffs believe that reccvsre,
hereof that ohsr claims also pending, and winch lhe
c!slsin. honcvs, 70 coas,dsraoss smoant, sill be
1stshsnod against Tho corporation; that ;he directors
have omitted for several years 70 declare any
aisid.tds, eu. thai shes have declared divided Oh
Me l6h CT February 1857. The plants Aese tSat the
zane re laid without any recognition the rights
hoee claiming % he stockholders by virtue OF she socs
sscsS by ssd G.sser agents teAs the company haze
Suyro, frcm ~n,ch tha same, aud that ~
vouc 30 Injurious 70 the crectt Of the
Jon me facts s!ate4 in complaint, TEN 0rArg IL
rouon wN ssosd resIAitiax hc pay nieni VI said dis
dad
The defendants answer the complaint, and sat
fcr that the parGs are stoch holders t the cztens
any rDAres, bu claim 70 be stock holders larger
number OF srAes that such latter d-lied by The
directors and b. orig nal hs deenssnt claim
,he gspuiDe Roc h0oers 81 the thAt the CON
aany, ha Ia of April 1850, presented IL esrniSss
The ~ $Ss 90 o. and earned surplus be~ean 'h.t
ds.e Nd orcber J. 1856, further o. MI 7i0 81
mako ota surplus hand applicable - the pa, moIi
u DIVIDE pa o. 500 49, that the claims the
1spy WHICH ne legally established Against IL, caono
De large, and hich the COMPANY Gill have sdeq
8, of and di~oharse The defer dAo's
10 dis.hA-k the order i.r tenro'ary injunc.i,n
IN the melton 70 vsoAte the 'paroa.s, oder on CON
plains and II ali the equities Of The ans
eb,ec NC bjuD0tisn be SoetliBSi la this O.
tore squiiot aenied The ground WHOM th,s
compliant could be niained mat the dsfen fAnts
-hoo, srply the fcpds OF The orporson and In.
tended div 6eba W liza stockholders, 10
thee moceY earned for sncn . II cannot
De doubted ha. in proper cass inch complaint may De
enter lxred.
Alter r,fersing 10 similar English cases the Judge
sio In the seat csse bi complaint not having be
ned Ioui The dividend declared TIE PLAINTIFF
htve ,snong IN urt refer The vd, nd pay
able 10 tn, Ohes ksAehoc erto ope,s osn the nseves
de- MT srp, II ~cud nded that ts
any right neifeve the int, nal mApag Of the
afsirs ot The company by IA duly constituted board o
directors In reefeDce 70 matters resting In their dscre
ucn
Having further reve cd the circumstances OF the pre-
seLl nOtou 6e Jsoge cpciudes - am bouut TIA
tie directors have earniugs hand sli.
Inv div idend and thai this Court hes khi
o,ea,e FUND n jqalds,e debts witch may or may no
re sstse.hed ssch dividends when der Jared belong 20
the st oko"deis, and the legally paid,
think they 10 This not peient for ,ooi
vtorS sockb dsr ~ prevent such ment The tempo
iAry MIN AiJn must, therefore, be dissolved.