, 1875-03-22
THE COURTS 6.
a Novel Point III bankruptcy Pro-
ccctlings Decided.
Outbreak Of Trouble in tho Excelsior
Stone Company,


-. t,,.t,,. sroa romn,nv, An ,nvolu,ta,, t,.t,.
lin vas ,.,s f,fcI arainnt ths Company with tho
rups by default. Sept. 1s, 1874. Tho Company
find tn Hat nj crcdiaora subsequently. giving
,,,o,t, ,,i,o-. tt,a mama of f{enry t;r;vcr ~ a
S - H.. .r,,,nt nf "a rnI ria,a,,rn,.
!! u !oa'tos ~ tns ".,o. n ~ '':,' NV =. "','
doIgor iilod petation 10 te' af'ae LUG aJJad!ca.
tiou, ctaininR that bis dobt waH Sl2,oyo, AMI
t1,nt allowing him that knolut the atpnun, rcn,e-
uan,o1 In ia natition w.n not oue-ttira a, lin
S."'ea as,.s n.,ro- ,,,,oo1 r., ,,.,.r.,,eu
that liis clain, was fraulala"tly a.ated, but did
not show In what particular. nor did hc chargs
That t,,cro was auY fraud tn tho tatitiou. Ho
~ o,n;,,,sa a., information nni ,,c1,cr ,L,t
a''o '''''''s'' ~ ,.'"..,.. h..,,...:' ~.
1he pfoeeodihe' "ete .sS''a ~ e'IHs"A" Win
tho baukruptn. nnd thst the potttio:'i"g creditors
wero uot houa tilo Unos. No ErtnHi*. however,
vcr, ntatoa for biz bpl!sf.
Iu1ra luodpo,t refused 10 set tic r.,iudic,t;on
oaos' n'ous's ,s',. ~ ~. .!'''t'".''" y, ~.
Aslue, hHo Peti'iVn 'oi ae'te" van '4'ta botofs
Judge Drummond. lie. however, aEirmaa tho
dccision Of tho District Coutt,' hold! ns that
t;cirarz notitou was loo indciiulte lu its alIer.
u..' ...a.,.j IN ,,ou,,t,. ~, ,t,.1,,. e..
,,a, J M to',nds', In snr ca,c, !. was rn.' ,4s.
ceasaty to nsato In detail the gsouE'ts 10 provo
that thn bc1ief vaB tpaeouablc lno no,itio,,
w., t,,crcroro d,sntspri.
'1' s',.. .,,,t, arorr ro,,n,:.
'"h - .1Sa.a" t,,.< '.on ,,,n,,,ia .' a., -.
cc3slor Stone Company, Of Da PaEe and Lefnolt,
,I,eu hill BaturdaY IN tia SUPERIOR Court
o1n int snmunl ". Eorton J, H. Norton. T., n
~" s ","aN - ,I"ss. NJ esv.r a,'a r,n,,,,, va..a,,
Nof1ont Aat!'et ~ oA'>sA' ."u A!1NAAu "'oi'ou'
his co-stockholdcsa, to rcstfah them from act
ing under certain by-lAwa passed by the Com
nnuv March III last. Dc Cle,cu tta.ca that in
tn"s s,av 1s7o ~ toocthcr viii. Samuel y. Marion
way, to'e' Nv sss ..,... =. w. ....s.'1 o.'e14
md Edmund. "efo engaged III btehe-1hafylngi
that he was general manager Of tue ltH, nild
oyner Of a ouo..htrd interest. It was then
o,rccd to 1iusoIyo tho partnership aud form
- i, ..,,a, tto r.,a1s;o. &C.,.
Corporation, ~ Us eAaeu ~. A'eotn'ot ''lohe
Compauy, This Waa dono, tha thtco partners
holding tho Mhote o. the st'sh. Nh1st W1s ~ sausa
at @78o]o. nestiea INTO w sAa'ea ~ sioe eacn.
A. "onslo::at.'n TO cofapiaananL !of soisS IT,
luis ne" xciicmo' ~ NAs assueo snas tHo.iii!9s
veto should ha necessary TO control or decide
questions that might a'lse that eo'npiainnh5
should have ono blafa moro Han one'tltlrd
interest, 20 that measures could % 70! bo paskcd
without lila concurrence ihat t''a ons shnEe
no oug aa ho held this oiie-thrd n.oTta., 10 cou-
sinaed as general mauaEcr OF tue Cnsniaay-
Ds-lawa wore paaacd s'lbAo!uen.!y to sle act
Of incorporation which rallied thie coatract ~
all respects, and atlairs went o.. 'roscroas!y Tor
nearly three years, apparently. In l5i diti-
ticn of 65 per cont waa DECLARED, aul in January.
1876, anothor dividend Of IS per csnt vas made.
Sonlo tlmo ago, however. Samuel aud Edsar,l
Morton assigned q part Of thois stock
30 az 10 give ]. I. Morton 10y shares,
Harriet 81. sager 1bo Fhates, aud i. y.
Norton Lao nhares. IhiB waa done for fraud.
ulent purpose. ns complainant pllAgca. aud
March II, 1915, In pursuance Of this alleged
fraudulent design, meeting OF tho Btockhold-
ers wns hold, when, by voto OF $40 shares. the
bylaws woro entitely repealed, tllitb 1tncalsnH
tho contrac. with complainant and it WAS