The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-13
THE COURTS.
The Erie Railway War-Judge Bl.tchf ord,s
Decision.
Yesterday Judge Blatchford delivered his on,nIon


Decision.
Yesterday Judge BIatchford delivered his opinion
in the following entitled case:-
The Erie RdfitCaD Company anu Others 1o1rnsf
Robert a. Heath and Henry Il. Rophoel, hnpleadsd
defendants TO compel jay Gould to restore "a. 600
shares oil Erie stock which sad Heath and RaphaeI
the English shareholders, allege were Improperly
taken from them by MI. Could The Judge orders
that these shares snail be made good. HIS Honors
decision Is IN the following terms:-
TIE DECISION.
Without discussing at length the various ques-
lions debated on the hearing on the petition OF
Heath ana Raphael Tor relief agains. Jay Gould, |
deem 1t SUFFICIENT to state briefly the conclusions at
which have arrived
Fnst-Tle shares OF STOCK which are the subject
OF controversy In this suit are III the possession OF
this Court by the hands OF It's receiver Mr. Coleman,
and they have been IN such possession, ana Mr..
Coleman, as receiver, mas been the officer OF this
Court ever since the removal OF the SUIT regards
Heath and Raphael into tins Court
Sec0hd-1hs Court has the power to compel. by
summary process, the restoration by Mr.. Could or
any properly which he has distracted from the GUS
tody Of this Court whether he be or be not party
to the SUIT concerning such property.
Thud AS respects such shares OF stock, the GER
tlicates representing them, which were issued TO
the receiver, had when such receiver became the
officer OF this Court, the privilege appurtenant TO
them of being certified by the registering agent of
the Erie Railway Company, as representing shares
duly registered with such agent. Such privilege
was q part of the property IN the shares and was
valuable privilege. air. Gould has, ny his acts IN
respect TO $4,000 or sucn shares not only destroy cd
such privilege ana deprived such so GOO shares while
they are In the custody OF this Court OF such pt1vi
lege, but mas converted such privilege 10 his own
use by procuring 1t TO be conferred on 80, 900 other
shares OF the stock OF the company while such latter
shares were his property.
FO,&ih-HavnR thus distracted property from the
custody OF this Court Mr.. Could must restore ir by
making or causing TO be made provision that the
so ooJ shares represented by the certificates issued
10 the receiver, which have been thus deprived OF
the privilege referred TO- snail nave sucn privilege
restored to them, and III default thereof he must
make good the pecunary value OF such spOllatlon.
placing on the registry list OF the registering agent
OF the company $4,000 shares, which have been Gre
ated by The company ana certificates for Witch have
been issued by the company, bat which have never
hitherto been upon such registry list, ana thereby
the shares represented by the certificates ISSUED TO
the receiver. ! see no objection To this course. If
the company recognizes these 10000 shares us valid
Stock as Is shown TO be the fact, and the registering
agent OF the company Will, on the proper steps
by tncrecclver as being duly registered shares Tins
Court cannot In this suit adjudcate on the question
ofthe alleged inyalldlty OF such shares as having
bean issued ultra cTes or in an irregular
manner not capable OF qualification and not
ratified by the company. Suoh question IS
IN this suit raise no such question: anu 1t can be
determined only In plenary suit with proper par
ties and with pleadlngs framed to prevent 1t. do
1t Is invalid, but Oaly Tor the purposes of this SUIT
and OF this question OF registration it must be re-
garded by tins Court as prtTld fdcle valid stock.
Strth-Fhis Court Is equally without power IN this
suit to enJoin the company IRON placing on the reg
lStIJ iist Iie oo uOO shares WHICH III Is proposed 10
place there The pleadlngs III this suit allow
such relief, and the company Is plalntur in 1t.
Seueatt-Tne motion OF the plaintiffs to open the
default taken on the 1Itn day OF March last Is de-
med. Sucn course Is not necessary in order to
allow the real owner OF any stock represented by
Heath ana Raphael to claim IL at the hands OF this
Court While IL is IN the custody OF this Court. When
such stock shall have been placed in proper cOndi-
tion for It's restoration to Heath and Raphael IT, then,
any person claiming any OF the stock through EVIL
dence OF title issued by Heath ana Raphael snail APP
ply to This Court to have his rights the premises
awarded TO him Out OF the in court the applica-
ton Will be considered aud disposed OF.