The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-05-09
SUPREME CuuaI-SceClAL TERM.
Before Judge Barnard.
The sioux City and Pacific Railroads.&c.
cisiOn Against John 1. Blair and Others.

The sioux City and Pacific Railroads.&c..
cisiOn Against John 1. Blair and Others.
Charles A. Lombard rs John L. Blair ana OtheTs.-
Judge Barnard has rendered his decision in the SUIT
brought ny Charles A. Lambard to be declared en-
titled TO one ninth interest OF the Sioux City and
Pacific Railroad, or lis value in favor OF the
plaintiff
He finds facts that previous 10 the Incorporation
of the company the persons who signed the articles
of association had an understanding aud agreement
that each should I've entitled to One-ninth OF the
benefits OF the corporation: that they then subscribed
for ten shares OF the stock, and subsequently,
in November, each subscribed for eleven hun
sired shares, the Iowa Contracting Company taking
ten thousand at the same time, and that the plaintiff
being interested 10 about one-ntnth In the latter
company, consented TO the subscription upon condi-
ton that his proportion OF the ten thousand shares
should be allotted TO him. and in all future trans
actions respecting the stock OF the railroad his
ninth right; that no further subscriptions
thorized by the board but under resolution of May
1867, referring the matter OF increase OF capital
stock Subscription 10 the Executive Committee
John ]. Blair and Cakes Ames, without having a
meeting OF the Executive Committee, received sub.
scorpions 10 the extent OF twenty-five thousand
seven hundred shares which subscriptions after
wards adopted by the Board OF Directors all this being
done during Lambards absence: that on hearing VI
II Lambard caused demand TO be made on Blair and
Anes and the company Of ms right to subscribe
ninth OF the new stock offering 10 pay the assess
ments, but that the demand was refused that pre-
vious TO PLAINTIFFS departure Tor Europe John !.
absence, and that II the stock should be increased
his should increased In the same propOrtion that
certificates Of stock have ever been issued, but
the companys books Blair Is credited with 6,l00
shares Ames win 9, 400 and the plaintiff with only
1000 made IN OF his subscription OF /, 100 shares In
November 1865. and $40 shares on account OF the
Iowa company; that Blair and Ames have the books
OF the company under their controls that each share
Of the stock OF the company worth eighty dollars
over and above the assessment Of forty dollars per
share levied on ~.
ON these facts the Court nnds that the plantin ~
entitled to 2T77 shares Of the stock OF the company
subscribed after the llih OF November 1866 with all
dividends &c. besides his present 800 shares; but
M his right has been denied by the company and
mis- shares diverted by IL and Blair and Ames, he
entitled against those three 10 judgment OF s222 $780,
being eighty dollars for each share But they may
relieve themselves from the money judgment 10y
transferring within sixty days from the entry OF
Judgment the III shares, IN which case he must
pay the forty dollars per share assessed on ~. The
Court gives the paintin costs, with $4,000 extra
allowance.
Field and sherman for plaintiff; Mr.. Crane and
Mr. Marsh for defendants.