New-York tribune., 1867-08-30

% ncss from the start" that they 10 enter
PHylng ng,t With Old established companies success in
SH Sh SV,1 6J alone sSenre rotum Ii they desired him
10 eute tLat, they should nave so stu 20 hu' men
ho2y ner cent They may say this mere matter oi
bccfbut they cannot 80 excuse " ,3 ~ m ~ i' ~
i have been valid but here they state that tney are
.egn'G "a |iC La HS srs nSWlcdsei Tie se'crs up OF
thsvcrc Keen crafty spccuators playing on ihe pI'T,L
Moi head. win, tails you lose. Not one OF tl5 In
rpfive Commute is o holder of stock
ir BrHdy-1hen 10 Is within d day OF two ana 'ii't
des moi appear on your papers ...rt.or+
Mr Aloi-TIcrc is notn in your papers to cal i out out
Mr. Pmucroy If yoU will accept my statemen[ @ own
200 shares Of the stock, on winch have paid an cans
Mr.. Brady VIII not accept the statement OeOH"s0
shal discuss 10 on the papers
Mr. Auon-lt Is for you TO make thc case ,,,,.,,,
Nr Iradv-Nme of the aGiauts. down 10 MacMuiian,
sneak of owning stock, and the eighteen VINO approve
could understand now intelligent and slrcWd men WOu5
paint their prospectus in The most radiant c3ofI @ IiG
they had been losing fghtiuy' but SIN spoke oi soo
The Sfiylt Of the defendants suicidal. Was 1t
permissible 20 invite subscriptions SAYING tid' D. ~
busnCss and tlen turn round and say We are losing
money! That alone Is sufficient 10 warrant the 4plolr
had been chasing them an the state TO lind how the
company stood financially ana YET @ moi as siEo t sfdait.
when by simple balance sheet, they might nave inIuo
neiyer should ind they paying ne need not inter
fere and harm would be done except the reGeiy.tS
cost v cl iu could bc charged To the paiuH
Mr. Watc bury into this 20 make money, not QuA-
ocaIly to dc, rov monopoly IL was competent for
Scouirlny to make such "a fight Sampson might amuse
himself iu destroying his enemies with hlnseHi pu'
XII tLr old coinulIps n their own death not lawful,
nos secret combination 70 get plOnt out OF the
The Executive Committee had offered 10 sell ont the
Company for S77J0o. after asking eloNWr IHty ueIeu
proposition was made by the old companies such a
I'm teT c9rita and established business would come 10
the knees of this intaut That negotiations wore pe4u3
andavits clear and explicit as To those negotiations Inc
defendants deny them Which would De eeHCNe4I H. ,,
flayyI
His Honor been told he rate Of loss INC business hau
instead Of paying Dteh l9ss t a. ~! @ t,t ~ tis
other companies They had not dared TO trust their OIL
offered to the Court mere chd's play, when they
might have produced their books. , 49,, ,,...,
Mr. Brady then offered to permit any OF Ihe lAetut.e
Committee 20 testify the motion IN open Court as 10
M SomSorS ON behalf Of the attendants said that
he had been disappointed at not hearing an argument
foT scrio,. diScusson Excepting sunday they had but
two days prepare for this motion The order 10 show
S'cs6v one dav had been occupied in coming 10 New
York They had done what they could. If there were
sny impcrfccous aidayits. or IN his argument nc
Ihortness of the time be their excuse. They might
have asked for an extension of time, hut the old copa
mics had purchased another stockholdST, Who GaiIGa
there and show him that when he came 70 NcwNQr on
this business he had fallen into the band, OF the h
tines There in every great army the weak ana
timd ana In the rebellion of 1916 there had been
traitors, cowboys, and sunncrs. So In tins rebellion
against tie monopoly ot the ulu Con. % 1r,f,T
malcOnteuts Iu the great army oi the Aeich"'s Ilnon
do- blow between the eyes TINS monopoly ana u now
asked Judicial protection, claiming tHat 10 CoP.I'.,n
wall and the Merchants Union as junior should 60 Ia
,n aHTG iij i In T,.Ts of tbc Executive Commtte but
this not its grave aspect The other ann was ae'.,'
tie Company Itself destroy it and wind up ts affairs
UnfathfumCss officers no grouud Tor destroy
Ing corporation Tor then any dl'coueuted st"chhGaei
and no d1ubt There were such Of the Ceula-migh ON
allegation Of faIthcssness in its officers destroy IT, nor
s II ground of destroying partnership made ior GER
tain purposes and ior spgceG iil1e. III eur pa t
hp the majority rules IN lnS k, kteAI CVhpdrI Ir w., -
,ayor OF its management MI NatcIbul! was III "llH'l
ty of one to 10OL - ,,.., ,,
Mr.. Brady-For himself and all who unite with HIM
Judge Comsock-Ies, and no ono has Joileu MN 20 p,
The laut & did aco fraud IN the procuring OF ms
scTiptn cancelled So ali that was said about n.srcp
Tesentations I'm thc prospectus be deemed mere
bOsh. receiver was never appointed eScypI VIII VIII d
the dissolution Of an association and tho winding
mp Of its anars never to carry on business ie Mns
only appOiuV In cases Of Insolvency OF where the pur
poses Of the s~ociatiOn is physically mpracucabe or
where the iusry.Q Of member renders the objects NOR
ins9Tcf. il bO "ichcen millions Of assets practically
unexpcndod il had called but Tor nom ioar 10 mfG % mn
besides very large assets Mere loss Is nota goGndOI ds
JudGo Barnard-Do Won mean 10 say that il four
put s25 EACH anG there is loss OF $4,000 that Is no
Judge Comstock-If the partnership is formed FOR
certain business, fU four years and the ht years losses
This motion was made all the papers in the suit In
eudng the answer That set 'p IaI l sJgiiGh d {oT
this sued 90 days since and a. shown 10y lnDla% ~ %
letters known the palntn himself, ana 10 llt
eight officers Of the old companies ~ WH 'aeheu % III % ~
6ffdayits read on tie motion Ihs was lalal 10 uS
action nat 10 was suit brought in te lhiee' T I4''
company (cng English 10 this pOlnt Inc tsS"-
citation successfully established ~ hot 80 laI ah
profitable they expected, u was que 10 the uscIuP
lOus Of the easpiug monopoly Which Is "hs 10
lose everything to retain its monopoly. . ......,
In business il lawful for every man 10 compete and
competition impossible, II was rather ior the ora
companies 10 retire than themselves But was not true
the Americas and Adams Express Compants Iad iIomh
capital OF $iOO40 excepting lhe so,JOV eyyi 80
seivcd from the Bankers Express Company rolled up
capital Of Sl5O00O0 such business WOuId more
All The facts we're patent 10 the plaintiff when he sub
scribcd and he cannot now Tor mere dlst lln,hen
destroy the company. lie (cOmlscD was ,tockho.dcI
and he was determined not 10 back down 70 the demands
of their opponents, and the great bulk O inc sOcAoueS
In the othef aspect as an attack the stockholders,
he one of those interested m me concern e Ou VIC m
Court f le found any uhldlthul 10 I'lHot.tC ' "a, -
claimed that there was 40 PROOF ui ui!l m l
member of thc Executive Committee ana iha IN lev
weeks am election was coming on az NHl.h 'iC -.
Committee would have 70 give an account 70 te STOCK
holders themselves and nave tHclI cOL4ucl laSSe
Mr. Brady followed Judge Cohsloch- Ily HS'ii, ..
that This WAS grave proceeding ana HNViltu "a EIa'o @
questions. that the Court should not appoint lecGgTr
OF corporation, OF "i partnership eAcepl UPON "o -
established lel.I principles ana conclusive tVuSco' ~
had been asserted That his Company was virtually cor
pOraOn only differing from one ia tiat u ha9 hoi com
mon seal An organization was corporation because
the law called 10 corporation; u might nave an the
attributes OF corporation ana sun hO bc cOpOIdI9n
because the law dd place II in that category He
held that IN this action the Company was 10 De W ated IS
partnership, and mat le same reasons MilJH "O &
sufficient for dissolution OF tins COMPANY ana that tne
Company might hCd->olved not Only ID iht manner pro
vided Organization, hut also by Court o. Equy'
whenever d bs shown that lts business coud hot D
carried on az iHteudcd III regard 10 'he t "a
Court of Equty r always 70 bc kept M view that
the Court could 90 anything that was subject
hibitcd By statute. lie Oited ease IN which q
Court OF Equity had carried on q newspaper. II
II had power 90 pahsh paper and direct pubic sel,'
ineut hc held tia! % could also carry Oh an Xprces com
pany, and pIo,ct thc rights Of US stockholacis ag"t
fraud lie cited case Ia which the mere lact u,. con
trOyersal been instituted between nenbeis Oh