The New York herald., 1870-02-11


susqachanna Railroad Observation-Disclosures
tiOn Against the Transfer Of Stock-MOne.
tary Developments.
Before Judge Ingraham.
James Fisk, Jr., Us. The Albany ana SusQuehannn
Railroad Company, Joseph Fl. RAMSEY ana Others
This case came up on motion for adjournment
On Saturday last Judge Barnard granted order to
show cause why an injunction should not issue
against the defendants restraining them from dis.
posing any shares Of stock Of the company. The
complaint SET forth that the plaintin was stock
holder; tnat the company was organized with q
capital St 70
pleted, and all the stock except 22,5OO shares,
Of which 600 were held by the company,
president OF the company since september 1868;
that prior 70 August 1862 Ramsey Issued to David
shares to s. G. thompson 600 shares, to s. sloanaoo
70 Martin e. Green l5U snares-ln all 2 400 shares
on when twenty-five per cent only was pald-lt
being claimed by Ramsey that these shares had
been forfeited to the company for non payment OF
previous calls and the recipients who are made
defendants are not liable for more than twenty-five
per cent that about the same time $500 snares
were issued IN various amounts on subscriptions,
with ten per cent deposit, to Ramsey, Goodyear,
Il. II. Ford, Cook and Rice, who are also
made defendants, who agreed TO pay the re-
required by the company that no part M Of the ninety
per cent mas been paid, though the same has
been greatly needed and required by the company.
That about the same time David Groesbeck & Co.
and Dabney, Morgan 4 Co.. who are also made de-
fendants subscribed for 10000 shares through Ram
sey on which they paid nothing, and he Is informed
rilat they repudlate the SUBSCRIPTION. Plaintiff
charges tnat the ABOVE transactions were done as
parts or conspiracy to keep Ramsey and certain
otner directors OF the road control in defiance OF
the wishes OF the 60nd Hde holders or full paid
stock; that III fact, the subscribers 10 the o. 500
shares paid nothing TIL some time AFTER but were ut
once creMted with their ten per cent, and
that the money came from the pledge
by Ramsey OF $l50,0O0 OF the bonds OF
the railroad, held by him as president, to Groes.
soy took $780, deposited SO, 500 account OF the len
per cent, and pocketed So 900. That furtherance
OF the same design, they prevented the transfer OF
stock on the books, which had been sold TO Jay
Could; that the books were alsled and some OF the
sock Issued as before stated actually voted on.
That the road is IN very straltened circumstances
and bankruptcy imminent That j. r. Herrick one
OF the directors in January offered resolution call
Ing Tor the enforcement or the SUBSCRIPTIONS, Uut
could not even get them seconded and that the de-
fendants threaten transfer their stock To rrespon.
siOie persons. Plantiir therefore prays that the
parties be compelled to pay for their stock
III full at 500 per share ana t0as the
sums paid IN be applied TO the benefit OF the
STOCKHOLDERS OF the company and It's bona fde stock
holders and tnat the defendants be restrained from
selling using or voting on the stock till they shall
have paid for 1t In full. The order to snow cause
was retnrnable yesterday, but when the case was
called Mr.. Tracy on behalf OF tho defendants ap-
piled Tor an adjournment Mr.. D. ID. Fleld for
the plaintln, lnterp0se no objection provided q
temporary injunction was granted when, alter some
discussion, Judge lngraham issued an order enjon.
ing the defendants from selling assigning, trans
ferring dlsposing or any OF the stock mentioned
until the decision or the plaintiffs mouon.
The motion was then adjourned Till Thursday next