The New York herald., 1869-03-09
sUPaia: clyRT-spEclAL TERM.

plicaton Of defendant the case was adjourned 10
wednesday next.
SBFa;A; CJJRT-sptcN TERM.
The Merohs.nts' Union Express Company {
Litigation.
Before Judge Cardozo.
Charles D. Htrrts Us. Esnaors p. Ross ct aL-This
came up yesterday Upon motion for an injunction
and receiver IN action brought by the plaintiff
to set aside the consolidation OF the American Ex-
press Company with tue Merchants Union Express
Company.
Mr.. J. Z. Burril counsel for the plaintiff opened
the notion atatinv the substance or the complaint
and read the a1dayit Of o. W. Joslyn and others.
charging misconduct on the part OF the trustees OF
the Merchant Union Express Company and aieg-
ing that they had no 1ower under the articles OF
association make the consolidation and that they
had colIusivey optaned the appointment OF re-
celver Of their surplus assets. The chief allegations
In this particular complaint were that at the time
the shares of the company were exposed for sale by
defendants they rapidly appreciated IN value; that
they increased the capital to $4,000 900 and the
this increase was not necessary and that 1t was
made II violation OF the duties OF the defendants as
managers aud oi me rights OF the stockholders.
That the Eine for receiving subscriptions
Tor the sad stock the defendants set aside
amounting 10 81, 600 shares and appropriated the
same 10 Their own use. That those shares
amounted 10 twenty dollars each, but that when
the stock OF the company was disposed OF the shares
brought $40 eseL the market price. That in point
OF fact the de.eaGaiHs is managers did not pay the
Said company slng Tor the stock In question: but
on the contrary gave the treasurer certain memo
raudum CHECKS Tor a sum amounting 70 100000 and,
as plainta alleges, it was agreed that the checks
should not be used or coiecte until the defendants
slOld be abe 10 realize suf1cient out OF the sale
OF said shares 10 pay the checks. Plaintin Hnally
prayed that the consolidation OF the companies
should BE- declared void.
Mr. comssock read an affidavit contralcting
some oI tue statements IN the complaint and the
affidavit read by nr. Burrili.
MIR. Porter then read the alldavit Of Charles B.
consondasion q tie Merchants Union Express Com.
pany with the American Express Company ne was
agent ior the iorner al Erie out lost nus employ
soidation; that on the lotl Of February last
being IN tAe city OF sew YORK he was introduced to
Charles s. Jos.yn who IS brother OF q. w. Josiyn,
stock broker, snas said Charles $. Josyn, being
informed that depoaent was original stockholder
In the Merchants Union express Company, asked
deponent ii ne wosld be willing to commence suit
to break up the consolidation OF said companies
provided II was made an object for deponent tnat
deponeut replei he would, and 1t was then arranged
that he should 10 next day to the office OF q. W.
Joslyn 10 see about the commencement OF such
SAT-. In The salne conversation Charles s. JOslVn
remarked tnal deponent was the person they had
been looking Tor ln orier to commence such suit
and that they lad been looking for two da TO nnd
an original stocSao der who mad not signed coii-
sent To such consultation and who would institute
the suit, ON tie loliowing day deponeat went to
the oifce of U. ". Josiyn and negotiated with him
ccncernlng the commencement OF the suit Depo-
nent In reply TO JoSlyn stated he was willing to 90
In with others 10 break up the consolidation provided
Nwas made an Object Harris was the owner OF
twenty shares OF stock IN the Merchants Union Ex-
press Company, then worth In the market about
s3so for the purpose or being converted into the
consolidated STOCK. bat OF little or value Tor any
othef purpose Y. W. Josyn In the course OF the
day advanced 10 deponent the sum OF $500 on sad
twenty shares. snIseqnen " deponent went to the
Law once OF BurriL, Davidson 4 Burrill and af.er
some conversation they began TO prepare the CON-
plant IN this cause. IL was then agreed between
Josyn and depone1t that Tue latter siouli receive
5000 at the OF termination OF the suit or
wnen receiver saould be appointed deponent then
being assured by Josiyn that q receiver would be
"a r.tuv pvltf o,Af that
nxed. the afdayis went on to state that GU
subsequent days dcponent was frequently In at
the once OF SAID Josiyn and tnat deponcnt
was informed and believes that the Adams Express
Company Is indebted 10 tue Merchants Union Ey-
press Company IA the sum Of $l51,000 or over. bat
disputes the cai.n; and thar said Adams express
Company mas aso certain disputes ana controyer-
sies with tue Ainerican Aerchanis' Union Express
Company respecting Their lines OF business. Tie
audavit further ssaed That during the present week
denonent said 10 Joss that inasniach as an nuac-
ton was gfaHsei ia sh.s Gaze he ought to have an
advance of Sl.OJG that Joslyn said he was going 10
the Adams Express Company and would see about
It, and desired lla 70 cali again at ,welve O'Clock
which he did, wAen s0slyn said he had seen some
OF the parties anu would give definite answer
al one O'Clock ~ tAis hour Josyn told him IL would
be al right Further, taat dcponent asked ior SAID
advance OF money be alse he talked OF leaving the
city 70 gel elnpos iaent IN Cincinnati elsewhere,
aud IT was tnen ag1esI between deponent and said
Josiyn tlat depOuent should have salary vt Inc
rate OF $500 year and has expenses long as this
suit was pendng-ii iaueAterl-beslQes tie said sum
OF S5UOo wnena receiver should be app0 nted; that
On several Occaa.Ols said yo3yn spoke am aboul
getting place lVf rul IA the Adams Express
anu said nc wOuid d. 50; taaf one OCCASION when
~ tue ONCE OF SAD sossn, Jonn ioey superintend.
ent in tie Ad-Als LNpres3 Company, cane IN aud
TAXED 70 said Jos yn ~ reference to and similar
otner ltigasions, IA sali J0siya informed ueponeuL
inmeoiaeey a.ter"aras- he also told deponent tGat
.his suls would Oe ~ eXpelsye that they mean.
Ing himself and oher parties mad paid of 81 venia
nave 10 pay $lOVoy " tAe lawyers tne lrst CON.
menctMeAi, or as he exp aimed it 'st the rst hon
laughter taat 0Il move taan occasion la conter
sa0n with SAID s0siy lie told aeponent thai he tJos
lynl must not yet la q st4a. ion where he e,oNIyn
could moi settle this litigation. Bepunent iurtfcr
adas that no mas no interest Ia thls sat
that no ssockhOier mas unfed with him In tie
same; that tie s4lt DrOu96t &c tAe instigaiion
ana ia the Interest VI other parties aud especially
81 he nClos ~ The l1iercss oi the Adams EXPRESS
company atd Ol p9rsO4ss WO are dealers aad spcCu-
iat0rs ia stock; tEat tie verified tue complaint Ia
tits case without personal knowledge OF the state
meats therein consail5a; t.iat he did repre-.
sentations made 60 am. very many OF which he has
since become satisfied aTs untrue. and deponent al
mits that ne as 10 ~ 81 or equitable cause OF action
against any 81 the d1leudanis IN this suit nor ADy
'tlse 70 prosecute is petition IN cerlain other suit
~ us court Ia Nnica SADlCs Y. IG-kln is plaintiff
anu bmcIe Il. Noss. President OF tAe MeTCbantsi
Cnion express Company, ~ defendant.
.aeuEe taFs9"0 81 tAe rearing OF this a.lidavit
winch excited g c1ssiattdOie surprise said that the
tiaseMents lusl ST. loriA would az oace put an end
W tAe case u4lCss CSA.f0yeFted.
hI. buiril taeB ~ Ash ior time 70 answer and by
conseut tie Illtiei gearing OF the case was ad-
JuLfhtl VII wednesday next
NOuhsel Tor ne Ft4sIsiA Dir. BurrilI and SIR. 4. r.
Stroug; loi the deieA4aA, Mr. Con. .tock M Norter
sL van NOOisI A.. t.apallo and Messrs SewelI a
Pierce.