New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-29


Court suhOy suspend them from the exercise Of Their cs
upon inertia grounds for this position that suspension
not expressly authorized therein the Cont has such power sI
lists BY implication or must be found 10 the Revised OF O no Ss
Revised Statutes the Court power to suspend any
S hat be s Su.sd Ii. trust. him from
Ss SgI1 DIG iS%s oS . ii he s "a Ordinary
bill petition The require or the supreme Coar m
the People state instance Of creditor Of such cor
pOu The instance Of desr trustee 81 0Ser
- 9Th 3D. 7e2 and 7S1 40 49, 3D. LIST 3D. ' and '"' ~
80 .utbory conferred By statutes oelhOd.r Of
S S%Gsoi e s 1 p can sustain such 40 SETON
upon the alleged fac. hat be Is creditor Of the En- ~st
Judgment maintain such action under the above Statutes
IS Wrad eJ Bot is Unnecessary opinion on that
question Po birk such creditor can s0an s Than are
alleged plaintiff herein lie mus, state The nature Of o.,
a as aus bm s that The corporation readily deter
mine their yaG 1aS See "nai 9s to P It. creditors ana
avoid the removal or suspension Of rs o5eso Tg ~ %apSd of
%p before sacs an action as should eommeneed
II . e 1.elo. 's' Yis R~ COMPANY
crc,ng Office, this acon before regular 'a thereof TUu
s paE pos ePS Srecy conferred BY But sis,dts which
coming e ,Ss. ,1 ,axed 'I X 10 ] ' Had
same article that have quoted 4 H. D. '
''' ~ ''' NOTICE OUGHT TO HAVE BEEN GIVEN.
Vow the Court had the power to suspend directors m s1
6S r 5 I.S!os spp ssa nds Of place
'P GrS B i S, s Kp ss d S Directors
Johns Oh. l6Ol the psnnds were so,Ahouen o
s ~ t n" eo Il the election for directors,
Injunction 'gnt nine Of the directors to restrain them from ~
the bank Chancellor Kent upon due notice given "a iG s1e.
election e6s % 'S S% iIf a o. the bank before the
conng the defendants answers to ne compliant ne sls:
trustee Is rarely IT eve. dTe S 0 Ara ac"E bu. the Necessity u
The essesgeb as Tie danger eDable osseaH justify departure
I 70 .se WSsf rpar,be the plaintiff tbs case would
have II le bl been required give the defendants Ell h DAYS
pS% poc, Of m application for tho order 'u'Peadag the eight
unless the denial OF us arpes'on n'sr
bad been heard: and am OF ne I. hs VIII nov s
w.r with the meaning the ue be should not have any nne
on 10 the he establishes bis alleged cause Of action Oh
regular WIS., MfIRsir EVIDENCE NOT SUFFICIENT;
think fatal defect In the psnfs case when t6e ws
Of legal proof bis complaint Aou By The suspended de
Of their I'm or s sS; Si p4e r i proper proof No
he sustained GU hsaLs'y evidence Esy ie.
eone on the part suspended directors positively sworn
sine. sl' TIE complaint eIcpt alleged interest Of the
n,s IA, therein stated nornou add belief" Ses fol- g.
Tue TIE pnSf At be end Of the complaint s ,si
ipormoton and tekG and Tat as to those matters be
., "' pet s bgsn. arsrIed 10 the conpl,ins II
gsre mssn.. not sworn TO- lie : not denas.n The se'e
PENDED director, tho COMPANY Itself for The reason th vas no.
Co@Papy need only rs.pes TIE three saaa, to too
Opponents eed and believed or consist Of opinions 'b
cSnS S held IA tie oen, against skinner
Others @ Paige 35 Tat "Uponle er pa application Tor the sos
IN, 70 The i1iaseo rests Witch The pn6l knowleis
% The complainant or q the aE1, or Ion' VITO Sov sI'T. the
he sSnsIed 70 ibt bill ihs additional saiar Of tis
.4 usa rs sss .ls ss is o;, !.
M;yS Sc SGr 1s gi li' vi. sIi s .l
mup u,lo1i,' % th, point for !, Is gai3 common
Vssed nom sIcg L o si' IB0p .g,r ,nd go,s Po}f
poser equity preliminary ulapnns ought to be
IsfI ~. % i jo,e. s a5 gs I'll .iryr on lie a.
question az Penn ~ 10 the 10 Barbour 0pral Ta'
Que, poI cou.lg within ueltcsbl'hed principles"
Audi ALTERAM PARTEM.
BY G-fss' ju,e 'nd protect eoor..-,, .sa ih against
30, , nsa x .1.,,s.s oar Lssre nv Judgment should
adopt olih uutsd States 10 far corporations ahi their dee
ia aBy Ease ~loat reasonable previous the adverse part
haaey oihs tine ard sge Of moving Tor the same water
Sons sore 70 be ueeesny to ,eears bar
@o S3 ,a .aa,i 70 .il...nrtt.'
folio, 10 e paana complaint oa,,ir, important charge
s ,ssloasr q d. I'm E.sy co%p,sy elected 10
5000 aorh Cat Of convertible bond, the Company
- a. The stpsss o. a'9 TSs sssi ,A Is So S %
f6ai proposition Wefs hty api honsr carried n,o eject soud
Cohpsur ter cou he rta'osAbe oheeoa made 70 IT,
u eompeu railroad eoupabies the VI stock in them
InE SINS on TnE FATHERS VISITED on rhE wKoNG
CnrLDRLN.
ps usr, ,r siol. prOr Ociob,r
IT, pa a es isio aeis alleged p',oo,
month By Other directors one Of Glon brother see OF ioaf l
,sos it asro C. a 20 Other sar q their suspension without
SS, s' Of 81. ' scripture 11 fd ' 'Rb 30. i sT S @So5
,h ehlres tie third aud fourth geBeAoa must be extended
AcoUrrsENcE OF sTocKnoLDERs
election Of al,e. os.oGs, .,. lshes :. 20. ,ss hs
houd have procured Por or TIE efos 10 "lo,e an stood on
.ss. aie anil & Many Giol'o dollar, ofils stock
YET sorrg 20 comp oa "a f~ siocEhoier, voted 'gs
boilers hlars to vote s, ao,, the Compliant
las eemsniir Peere Of las nat Court Of Egay si not
sho have sanctioned glsesd The ae!' oonP1ae o.
iGsi rsasiJ cs o lo,. By egrPo1tsn e uI,igm,a
portt Itself 10 power by elections TO eouGi- It's interests 10
other n'g' o. 5i sS - III 90 TS,'ss' % A@ ~ Ss
q stTolbaH, E9 Reps, ~! Dan'an' ~ -, SAN ~ Is
& or control Toe droa of the ye,iry su, unls,,
iaugs' s limits ofssgl charter bess, nsl.,y thy may Ti
han' pr,s remedy I, Is'S. TIE que. s,'iop s ~ s pn
functions . os sbn n. p,,1la IN eq si' Isfsissd s'
Ba at wop Maine Eep. a0' WATERWAYS Ldes on lruue
an .se p.ans 1o.h, claim, ia hi. complaint tbs, b,
snotat alleged misconduct u The eight suspended Directors
@ 20 issf ' s1so Of s c%Psa from uRon he derive. e ever
r,maied gs ,ah ALLEGED m,,oaiu', Or too sJ ..
Suspended have used reasonable EFFORTS TO have more frequent Or
have Any considerable portion Of the stockholders made auy effort that
SioesIolsr. who IA against suspended directors at The
last election Of directors dssnsd TO have aequeee al c,
feIarauce npydspee and all acts arising nom mi'usmsGt
t sur yor such election Of which said sloek
hollsfs sufcsn 10 put them upon inquiry
M thar Interests Out ~ court should
rot es orders resIE the discretion OF h
| ooIrL
Aoou bulldogs, oncs shops aud equip
touchbg connections aud extensions sud
IA. AZ changes the locations OF their Offices sop and other build
ns Interfere Win TIE discretion Of directors 10 'aea
|
Tie neglect vote the las, election Of dirssto,
ptanous that such stockholders DID vote
At that sht rhonos'e they Director, Of the Com
pany vbebeT Immoral "Aste OF eIfA
. the of The Affairs the COMPANY
nI,lenbt The mora qualaNoua OF decto VI eor