The New York herald., 1870-03-03
SUPREME clURT--SplclAl Term.
Thc Rules and Regulations of tho Now York
stock Rxchanxo In Question.
Ind Car


stock Exchange In Question.
Before Judge Cardozo.
Alexander 7. Compton Us. Wayiam H. NeUsoa.-
Tbis was a suit to determine whether temporary
Injunction previously granted should be made per-
Manent or discontinued. The complaint set forth
that the plaintiff was member OF the firm OF John
J. Pardee Co., bankers. the only other member Of
the sad firm being Pardee, one OF the defendants,
who is member Of the New York Stock Ex-
change. The plaintiff, however, was not mem.
Der OF that institution. The rules OF the association
provide tnat the governing committees suall ap-
consisting OF nine members. during the period
from July g. 1869, to september ~ lso9 the PLAIN
nns firm had various transac lions IN go.d
member or the New York Stock Exchange.
and also OF the New York Cold Excuange. IL ap-
peared that certain differences having arisen
between the plaintin's 1rn Foote, plaintiff aud
Pardee commenced @ suit. Foote joined issue upon
the wno.e cause OF action. The complaint sci iorth
tnat the defendants, constituting the governing COM
mttee, actng upsn the rules oil the association, as
sumed jurisdiction OF the matter in issue therein,
and lntmated thas the piaintin An the ac.ion
should iall TO appear before the arbitration cOmmiC
Zee the case would De neard ex parte aud tnreaensd
tlon refusing compliance wtn the decision OF the
committee le would be suspended from the mem.
bershp OF the Exchange; that tne matters at issue
IN the said acuon have reference principally 10
transactions entered into by pardeo Co.. on the
oruer OF +. W. sterry Co., ior the purchase
eera Of the pa,ntia,s lrm were were mcmoors rs OF Of
the New York Gold Exchange the orders
were given by them 10 Foote. who undertook
70 Iufl them. Sterry Co. make claims against
Pardee Il Co., but refuse to recognize tne.c0mnlt-
tee Of the Exchange arViters III the
plaintiff contends that az The matters IN dispute
could not DO fairly heard and determined by the
ArDitraton Committee. he has, therefore, refused TO
place sucn Interests AZ toe disposal OF that COMMIT.
tee; that, Notwithstanding the plaintiffs objections.
the defendant Pardec was willing 10 submit the
matters 10 the decision oil tue committee. Upon the
foregoing state OF facts the planIir obtained de-
celnOer last an injunction restraining john Jay Par
dee and the other defendants aud The members Of
the New FORK STOCK Exchange IRON interfering with
the matters IN dispute fne now came up In
regular order, having been iullJ submitted.
Judge Cardozo reserved his decision.
The Abrahans viii Cnxe-Charitub'o Distri.
button Of Property.
Before Judge Brady.
BsyJanltn Abrahdnss, Executor, de-, u.s. The He-
Teao Berepoent SocetU-This was a suit to estab.
sh whether several legacies bsqucatned by Simeon
Abrahams deceased, were valid, and whether any
preferences in the oSier OF payment were to be
made among the egacies 10 charitable institutions.
Simeon Aorahams, physician. died IN tnis city IN
April 1851 bequcathing 10 MS brother the plaintiff,
the sum OF $4,000 and to his sister so0,uoD. De-
ceased also left 70 geyeral Hebrew ami
other charitable institutions large sums
or money, varying from $1,000 TO 5000
each ana 10 some $4,000. The plaintiff was one OF
tn0 executors, tins whole OF tue personal estate
amounting to sl3s, $40 according TO the inventory
IL subsequently appeared however tnat the property
WAS not OF such value. The compalnG also sets iorth
that the whole OF the estate OF the said test4tOr
including The proceeds OF the real estate as sold.
will not be sucnt to provide Tor The several egacles
and dispositions contained IN the WILL but viii raj
short thereof By large amount and that the plain
un cannot properly proceed TO the distribution of
the estate OF the further payment OF the legacies
without first obtsin,ng the Judgment and direction
OF the Court by wncn the will could be Interpreted
and Tie duties OF the paintlr as executor aennsJ.
me case has mol been concluded.