New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-10-19

business Win any sdnh company or companies By aree
ment contract Lease otherwise a. to the pro
vac Sss .S% wSS
With such and should eTs sr r. sboIid be
made should be paid the full value Of his stock 70 DO aP
praised BY commissioners appointed for the mus
be violated as well as that the threatened injury Isl h
st IL Il. law courts Tho hight e Ss SomgI. .Ss Ss
claimed here 10 the night TO have the works OF inc nth
out being leased or transferred TO any or q
ton ct nIed rent instead o. the be right Of
the oompainants TO their stock Is not disputed cSt
only y l ss snG the
me wOSk: and franchises. tend a. aaf ttG Ss
any authority in this case this lease extends " ooe
II may be considered as settled that corporation can
nS lease s and Of 70 State
without legislative authority.
fsn CO fs' Ssi h sr si ssss::s
e s:TsSsss e. 5, q d.I ~ s;Sss
st:S fsG?' &C. 81 % e. * = s !; a
:! &n.n. How. o. Com Smith, 10 Asn, u.s. Richards
chses granted by the often parts Of the soyer
elm power delegated to subject and always nrvsSes
the State s supposed to regard the character Of the
grantee the guards and restrictions placed upon tho
continually changing BY transfer Of stock. In this case
the franchise OF maintaining canal ana "a onS fos
and rates Of fare Ted by Themselves without control
iss,sd or sIsned without csHssns Of ne stats
THE LAW OK CONSOLIDATION OF STOCK
a. b.1 s 3: s.S to eon Oh: his' %
bushes, with other connecting ,IOd ;hs state bat cI
% wit. any 90 another o s The init Spsn an
ipnt No compsnies out Of the Oppo
tOn State" insp becsa,s IL proper use to
e. here IA way that admit. Of 30 es"as
E s one "fa cP'f ' po t%s
other % . % be the wG sTAs ,U r he
nss GsFH p siS tn. s"1 Tsde. INV s.,ns
and tb. phr,. which relate, ri. bod! from location .2 Ii.
o or other ,h.n cC%p.nls. in this State. h, meaning S,
think would strike every one upon the hs reading Of e M
with the Of this To Sdv 70 sTps Ss %s ss maxim.
mad is'e sr 81 S& Nom ia@I Sld spps. to
e.. child at to Rsn h. c1 be &
say G. &c sognd that the TS I
ut De ls "a 10 settled use q %1,
settled TIA. Of statute hal be S
.s e.. s Of Be Tss Den p R'sS words H.
statute construed according to that intention No one can red
a, ,1 Sso heinz cSnTr.d 6 susS was
the WORKS used it, although a"iWsy naPpro7rae and IN
Il rue Of construction al, grants the State and grants Of
and most strongly X favor Of the pabc san he grant
The object te public iG: AID s ps
sustained BY words Ambiguity ueh giant y.r Bu.
must construction and not be construed a. Q
ss % h sn snS, S 7f sa s '1% 3 rue 90
sat, 2 an! 2 Patch S 'ss STATE S s.i5 1.,
s 1os1 TeSoiss be.a Del Del
Co.. a. Is How Fen G:T sfs. P1
.ss x. C. p How 81 s Ri FSf Gs Rfl ' Phil
IT &c; can u. ,D Ss n he Sn s% % the 1s to
. .tl1 in ali such ssn,. The STATE Is. pat. with
kIC Il simply prnnits new or contract privilege
franchises slready granted 1t Il clearly allows such
a5eS .h, Se ."sd With lie Of smother State
m THE aa s Ss cnpuy not With tS ur
because % .o,! Dc no. form cSn1s s or HOn.S
T.: SS Of 81 St%sa nd STS:
Ssm IN sh. Srsrs ca.. zabr sis R.n Canal
"a :' rS I'D :n:ns S E d q S.Ra 4
Phsdephs railroad Of the Penn,y,n. Railroad Company
a an a their TS ;rsA cot sSaas
%S.: Ss the a o.
f fiss. f1I:siy ';
s.c.. her d IL AID u: y: G s:; s
me ss e SS p S GSsSp is
connected directly but by intervening connecting road
THE LEASE A SALE.
iS Hise S,soa to I bot S. tie Lease o
s99 yes reality and substance sale though lease
TIL. term IT, no doubt practically slavsnt to The 5 bot ds.r'
sDtr The d.Hsai.h,os feature q als b.. !.
T r. .as.neep As we'll Il form . TIE set iso g.
nv By the ss 70 na A.. TIE I'd @Ri ~, Ss
S. a 81 sS ar l I Oss y be-
tween arising the and Their sub
cam. shall ~ The
dTJsnds and that mi, contract coDnues without limit Of time
every .Cciho4e shall son.eo to ehsngs or Terminate ny sd
b-esn tn. STATE and the eOrpOrsOn which cannO. be
s.:S S wheat that I sapS" .DU *. ss q
conauy enterprise substantially different that author
S ss ;I:s an.
.p.cs.d object 6s se that ..
within that except BY the Of all partners
See z.Srafie v Hack Co. o. C B. Gr.eu 7s the
authorities there cited.
not .peeised which enterprise may
r. Is. t dcs% Parker ks.a ioe &.
S owl. sSn@a z zS nS Rss Re- 6ps G . S'oR
4. n
,$. a:s, 's IS. il A' Me- Al.
ss Irving cited KsaS Johnston does no. support The
sSaps !'; %
sSVS sS fRS so biz s Lord ssG1 hell that %
partnership continued compel him ndemnyns
G1His q s"f a. TS:S
@ that S1s u not se sSans. s %
3 IT, the and 1 s1s.S aSSs md AE.
that there little doubt that court equity in mds
S.s S;a R S; % ss S sSs:
s during the Of and not 70
authorities Is based upon the Law Of partnerhp; BY that law
there 10 definite tune 6Ied for tho duration Of
partnership partnership at will and be ended By any partner
at his will
story On P.rtnershp no. Coyn eh a. And TIL,
the doctrine Of the CIVIL law. POthier Psnd Lib H.
I Domat Civ Law 3G7 and 800.
Becoming incorporated for 'pecsed object without any specified
continuance the business continue forever
than articles ofpsnershlp without stipulation There
Why should be construed into
implied charter And doctrine bat
compelled continue business nd undesirable
Improbable and uniust
that viii not be held to arise By Implication unless that Implication
supne Court Of Pennsylvania held In Laumsa Tho Lebanon
Valley r. Co. 10 Penn Casey Icy that corporations can
By Of the majority abandon their
property and that sach sale violates opinion they
there has been anything the relation
corporation and IL members that ale then oua