The New York herald., 1867-12-15
UNITED STATES CIRCUIT COURT.

Important Salt Against :" The New York,
Newfoundland and London Teiesraph Conn
pany''-The Projectors and Origiuntors oi
the Atlantic telegraph Company to be
BPsn9he Light.
4 bill IN equity was yesterday hisd IN the United
estss Circuit Court the pars Of Horace D. Tbbitts
against Peter Cooper Moses Taylor Marshall O. Roberts
Cyrus ". Field, David Dudley Field. F. B. Morse ana
1aafero p schafner The bull ssts forth Substantially
sAas in 1852, horace b Tbbitts procured through
Frederick N. Gsborns English engineer, from the
Province Of Newfoundland exclusive grant or charter
% construct and operate telegraph line extending from
shs city Of New York 70 the northern extremity Of New
fcuudand for which he claims to have paid Osborne
tho sum OF $40 900; that thersupon be formed COM
paay known The newfoundland Electric Telegraph
Company proceeded construct the ins thas after
having expended and applied sum Of about eiol ooo
Anancial embarrassment impeded s further progress,
ehs being about the month OF March, 1884, that A this
pabnn and The several defcndAcs above named, where
ky the latter upon certain conditions proposed 10 join
sSan more snsS Ssf comuIees ana ,Ia.
% this eject wero ~ one time actually agreed upon;
shat as subsequently, TRANSFERRED the de'cndAnu prefer
red have the control OF the whole enterprise and
posed 70 purchase the properly franchise and
lserest Of the parties then composing the
Electric Telegraph Company that after various negota-
lioos 10 was nnAIy agreed that the parties named
defendants should and they afterwards did, purchase
following isrms.mfhss tho defendants would pay the
then existing bonded debt Of the company amounting
20 about sol and would pay and take up the floating
debt. amounting to about $40 900. the proceeds OF
which bonded debt, and the subject matter Of tho hoa
Eng debt had all been applied 70 the construction Of the
satlo1 TO the persons holding stock bona dde In
she then existing company, and would furthermore
sso 900 PAID By % him for the prosure@sn. or loo
orgiIa charter. the personal expenditures OF time.
Iabor &C. rade By him during the period o. two
abe company when Issued; that u was further
sgrocd that nai company should pass their fran
ehse and charter By decd Of transfer 10 the new aSso.
ciases belaz tho parties named a. desendants and
should also pass resolution BY their board Of directors,
under Their sea ng and the
surrender Of the existing charter OF the province OF
Eewfoundand o. resolutions having the came amended
and parcIssns parties had no rish, 20 surrender he
squay valuable as The one previously procured by ths
PLAINTIFF that tho particulars In detail OF ,hss purchase
sxisting company reduced wr,ung and placed
envelope, sealed ur with the seal Of the existing
company, and placed IN With David Dudley Field,
she attorney and agent OF ,he new assocaep 70 e held
In rus; until the cbarter should be amended tho
sns obtained and hs new organization formed and the
stock issued 10 be paid 10 the parties comprising the
chen existing company. The capital stock OF the
new company 70 be issued by the associates.
ESQ COO 10 bs paid to Mr. Ttbets added and 10
exceed the estimated ef $3.50 o00 which was to be
10 the rsrnr parties was 70 Be issued on that basis
Tho pantif also alleges that none Of the bonds, 80
Gar 20 him have been paid or discharged end
exhibits wta his bill s33 900 of said bonds part OF hs
CLAIM aud Which, together WITH the $50 100 Of stock,
be clatns due 70 him upon ihe bass Of $3.50 600 -
above stated and aegcs that be has never 9een ADVISED
by tho sssocasc those persons composing the
corpSist.cn known the New York, Newfoundland and
Loncon Telegraph Company, OF The Issuance o. their
stock or In fact OF any pay or compensation whatever
for bis hrss aad original Investment 10 the enterprise,
but he alleges upon Information and belief that
she new crgazlxlilon has issued stock 70 the
amount OF 81 ol0. 900, forty thousand shares, and
claims that he is snutlcd s tho proroioras Increase
% $40 600 II 10 f40o00 which. with the $50 300 os
stock due 10 him the basis OF $50, 00o and the
.00o Of pords with intsrsst added, making neary
one.haf OF the whole CAP tss stoex az the sIsLlsg
company, ~ property due and payabie 10 bin.
The bill sets forsh that shis entered
INTO with al the defc1dsnts, sevsraly and Jointly. aud
that each and all Of them are table 10 him for tbs
amount Of his interest 90 above sst forth.
II il further shown ia the Bill of Complaint that
she intention OF the paiDtin 10 seek 20 make ui,i
mals conrecticr by Telegraph across ihc Atlantic aud
that the of The New York Ne rfcu Dcaud
ami London Telegraph Com pany was tho s1e ed
bv him 20 The associates before Tie surrender OF the
ebartsr procured BY tho pantT snt the cbalrIng Of
The ne one under Which the deienaGns are now oper
asing their telegraph line.
Process svas sstsed ytstercsy al the parties and
abe plsnn pfays Tor injunction. ctjor.ng the ds-
Scndans from interfering Vim or dsrosinF " certain
amounts Of stock claimed BY him 10 day Dss Myet
been ixed for the trial. aud of course no snsef has ret
Asaa nsd The case vii w u sftsi inscreNs wbsn