The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-30
SUPREME COuRT-CHAMBERs.
Central Branch of the Union Pacific
Railroad.
Before Judge Barrett.

Before Judge Barrett.
An application was made yesterday in this Court
on behalf of Samuel L. Tredwell to compel an &C
counting of the profits OF the contract for build
ing the Central Branch OF the Union Pacific Rail-
road. The company was organized with the in
tenton of connecting by means OF another road
with the Union Pacific Railroad, and obtained
subsidy from the government. The terminus of
the road being changed. however, no connection
was made, and further aid from Congress was re-
fused. When organized the company contracted for
building the road assigning all their assets to the
bed. subsequently the contract was reassigned to
the stockholders Individually and an interest in
the contract was sold to all who bought the stock,
the contract and stock going together Mr. Tired
well claims that the contract being finished, and
having realized large profits each OF the assignees
of the contract Is entitled to his share OF the
profits; but that instead OF so dividing them the
profits are being expended in buying up cou-
pons of the bonds OF the road in 'bettermentsn
OF the road and other general purposes OF the
company. He now asks for an injunction TO pre-
vent this. and for a receiver to divide the profits
PENDANTS answer that the contract was mere
form to protect the stockholders; that the COM
pany, in tact through its own organization, built
contractor fixed salary for experimenting the
buildings that what is left in their hands is, there
FORE not profits of the contract but general assets
OF the company, and that the plaintiff has no ndi
vidual right. After listening to prolonged argu-
ment in the case Judge Barrett took the papers,
reserving his decision.
Mr.. Van Names Sojourn in Ludlow
Street Jail.
motion was made yesterday to vacate the
order OF arrest against William Van Name, former
President Of the Market Savings Bank. This bank,
it will be remembered, failed some eighteen
months ago, and in January last Mr.. Van
Name was arrested on charge Of having
Incorporated some of the funds OF the bank,
and in default or S4S 900 bail he lodged in Lud-
low Street JAIL where he Is still confined. IL was
urged by Mr.. Homer A. Nelson, who appeared as
his counsel, that he did not use any OF the money
Of the bank, as alleged, and that he was poor
man and could not furnish the bail required. Mr.
Mann OF the firm Of Mann Parsons, read several
alfidavits in opposition setting forth that Mr. Van
Name had, since the failure OF the bank, said he
was worth $1,000 that he was reported 10 be
man OF wealth, and that he owns fine house on
Twenty third Street, where his family is living in
elegant STYLE Various alleged stock speculations
OF his were also detailed in the anldaylts OF stock
brokers. Willingness was expressed to admit re-
duction to $4,000, but not any less. The ctheT
side desired reduction to $4,000. Judge Barrett
took the papers, reserving his decision.
Decisions.
Gibbs VS.. Gbbs-Report affirmed and Judgment
granted.
National shoe and Leather Bank vs. Rose.-Mo-
ton granted.
Turks VS.. Daying.-Report confirmed and order
granted.
Appleton vs. Boles.-Motlon granted.
In the matter OF Thomas Stephens, &c.-Papers
with clerk.
Candela and Others Us. christie-same