The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-14
SUPREME C0uRT-SpEClAL TERM,
Interesting telegraph Suit.

luteTeStIu& Ieie1ruDu SUIT
Before Judge Barnard.
Otis Z. Je,cett Us. Peter Cooper, Noses TAILOR,
Narsau o. Roberts, Cyrus W. Field, Samuel r. D.
Morse and Chandler Whtte.-The proceedings in this
case were brought by Otis p. Jewett, who, on the
10Th Of March, 1854, president Of the NewfOund-
land Electric Telegraph Company, q corporation
organized by an act of the Governor and Legisla-
tive Council Of Newfoundland. 1t appears that by
virtue Of the organization stock to tine amount of
100000 sterling was issued. or was to be issued,
which stock was to be divided into 1000 shares OF
fO0 sterling each that under the provisions Of the
OrganlZat1o OF the company the plaintiff originally
subscribed Tor 1ftynne shares OF the stock, OF the
par value OF f100 sterling, and or this amount the
plaintiff paid or twenty six shares for the purchase
OF thirteen OF the bonds OF the company at the par
value Of EDO sterling each tnat ne PAID sa2ouO IN
$4,000. for which he claimed he was entitled to a
further corresponding amount oil stock and bonds
1t being the agreement that for every bond paid Tor
there should be issued to the party paying Tor the
same 81 900 In two shares OF full paid stock for each
bond as purchased. The company claim that hav
line and expended more than 100000
in building and extending 1t from ST.
interrupted by failure IN the supply Of means.
Therefore to supply more adequate means for the
construction OF the llne negotiations were opened
through one OF The defendants, Taaferro r. shaiier
who was then In the employ OF the company, with
the defendants Peter Cooper Moses Taylor, Marshal
and one Chandler White, since deceased, whose In
terest was afterwards represented aud Is now owned
by the defendant wilson G. Hunt. The plainuff
claims that during the tendency OF these negotia.
tons he sold certain bonds " the Old Newfound-
land Electric Telegraph Company to the defendants
who formed the New York, Newfoundland and
London Telegraph Company, and that they agreed
to give him In exchange therefore $4,000 In stock
Of the last named company and this action was
brought for that stock.
The deponents claimed that on or about March,
1884 Peter Cooper, Moses Iayof Marshal o. Roberts,
Chandler White and Cyrus w. Fled purchased Of the
Newfoundland Telegraphlc Company, who were then
suspended and insolvent corporation oil It's prop
erty or a valuable consideration and in pursuance
OF this agreement the company executed proper
CONVEYANCE to them and surrendered It's charter to
the government Of Newfoundland, and then became
extinct that subsequently, about April, 1854 the
government OF Newfoundland passed the charter
80 the New York, Newfoundland and London Iee-
graph Company, constituting the above named de-
PENDANTS directors OF said company, and they have
continued exercise the functions OF directors
since, excepting White who died In 1856, and was
succeeded by wilson G. HUT, who still holds the
postion that this last named company completed
the enterprise contemplated In their charter after
great difficulties and much expense, and that
no such agreement as Is claimed 10y the plaintiff was
ever entered into, the defendants Claiming that they
bought the material, Tools, &C, oil the company
alone, and paid Tor them. An additional defence
tnterpOsed was that Ii the pretended clam Of the
plaintiff had ever existed it would nave been barred
by tue lapse OF time.
The plaintiffs case opened with the examination
oil GUS +. Jewett, who was succeeded on the stand
by Cyrus W. Feld-called on behalf VI plalntif-and
Horace 'Iibbeits.
Case still on.
For palntf, Messrs. j. .. Stewart and Towle;
for defendants Messrs. David dudley Field and
Lann aud Parsons.