New-York daily tribune., 1865-10-26
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LAW INTELLIGENCE
SUPREME COURT-CHsxBERs-Ocr 25.-Beforo Justice
lNGRAHAs.
THE MARIrOsA EOEDs-A QUESTION OF GRAVE IN
TEREsI 10 HONDUOLDERs


lSGRAHAs.
THE MARIlOsA HOEDs-A QUESTION OF GRAVE IN
TEREsT 10 BoNDHOLDERs.
Edward Duglae and Edward r. shaw agt George Oplyks
and Others Trustees. and Heusted W H. Hoyt and 9th.
ef, Bondho.deTs Of the MaIiposa Company.
The plaintiffs IN this suit on behalf of themselves
and a other stockholders m the Ianpo.A Company. have
brought ut AGAINST tho Trustees Of that Company and such
bOndhod'fs of the Company have commenced .u. upon
the coupons tue bonds OF that Company TO restrain the
former from paying the coupons and Tie latter nom iuhe
prosecuting their suits.
among the latter are stiwe aud swain and the defend.
ant Hcustsd w H. oyt THIS latter holding -'luo Of the
April coupons brought eight suits IN tue Marine Court, to
which deien.e- put IN denying that Mr. oyt tie
uii Of Dgae aet Opdyke The defendant lioy
10 sct aside this preliminary injunction upon "a inswe deny
ing the equities Of the con. pisnt
Mr. Evari. in support oi the injunction urged that there
questions 20 be- settrd IN thi .ut before he others
could be tried That these bond. had been Issued by the
Company at 80 ad 6 cents on the dollar. He argued that
though the statute forbade corporation 10 raise The defense
Of this dd not prevent them fom rasn. tho defense
II the want Of con eaton-atany rate would not prevent
.tocshode and creditors Of company ron a!sins i,
Directors Of such computes. That to be
gardcd loan Of money a. an et0rtant rate aud not
sale Of bonds Tint ths defendant not having paid M value
for the bonds could be considered bona dr holder for
snythins than they had actually paid. especially since
The whole Transaction well known by money dealer, ind
Influenced the pIice Of the bonds. Besides the complain, al
legged that he not the bona hde loder aud this not
fully denied In the answer (Mr Nos, did not know that
there was any such allie satioBl There uc allegation
though the H'aAs was naturL The injunction should DO
c0niIn Inued.
Mr No.e ur,el that this iock being blush IN open mar
ke tie Company must be- liable of the face Of the boAd by
which their difcrtors had msed the public.
The Court suggested that Tie suits git be brought the
coupons, ho sh the pautir view shoud Ultimately
prevail and 'he money applied on the principal
Mr. Eyars argued that IN such the bonds m h be sold
without the coupons 20 purchaser IN entire ignorance Of
such payment. The dividing the claim into eight suits In the
Marine Court OF itself fraud that Court tie aW aud
the Supreme Court. The defendant could not claim a he
was bO. hide holder.
Mr. Nose-Ihe bringing Of .ui's in the Marine Cont
for their expeditions settlement, with purpose o
fraud whatever where many creditors sorkug 10 obtain
the priority Of their claims such j. cutircy proper
The an that the defendant s but TepfrscuatiycO Of s
well A Swayne /. entirely nniOunded.
The { Ouft toOk the plpers, rcsefyIIg j. decision.
THE ElGHfELNIH WARD MARKET.
In fc tie maudaus the Common Council .sue Public
Market stock.
The Legislature IN pT last passed for tie erection
o public mBrae; In the Egtcenh Ward appointed Mrsr
Nannorc. Hayward and Gamble Comms for u.
ion and directed the Common Council issue 300
stock 10 erect IT, The Commissioners have obtained the
ground had plans and 'chcitons framed and contracts
made bat TIE Common Council though tWioc requested.
have yet ssaed the STOCK The rrrt,nt Application - to
compel them 10 issne fIi, sto k--tasr Adjourned
Ctphsi BJtirard icI Telaior.