The New York herald., 1876-07-14
THE COURTS.
The Western Union Tele.
graph Dividend.
ANOTHER EXTRADlTI0N CASE.
The Bleecker Street Rail
road Suit.
EXTRADlTI0N CASE
DANGERS OF STEAMBOAT TRAFFIC.

HERALD, one Lew A Dowey obtained temporary in
Junction restraining the Western Union Telegraph
Company from paying dividend on its stock falling
due on the 10th OF the present month That injunc
sion was granted the ground thai payment OF the
dividend intended to be made could not be made out
OF the earnings OF the company they being insufficient
IN amount THIS referred TO ex-Judge Pea
body to formally take testimony to the facts those
OF tho complaint having been fatty con,radctcd by
andavits on the part of tho company That reference
proceeded yesterday, developing little differing from
the facts contained in the papers already submitted TO
the Court and published Late IN the afternoon, now
ever affairs became sti!l more complicated by tho
mencement OF SUIT by Watson 4. Chase, stock
holder, through his attorneys, Mcssrs Redncld 4
Hill, and the service OF injunction Dowlcy. In
lhis suit both the company and Dowley made de-
Iendants, and in his complaint Mr.. Chase alleges
his behalf and of all other stockholders the 10th
Df June last (except Dowey) that he is owner OF
1,4oo shares, of the value of 800 each that
SAL o73, 41O, of which the company holds 1880 600
thercabouts for the benefit of its stockhod-
in the proportion OF their several interests the
residue OF the capital stock that the eth OF June
ast the company declared dividend at the Of
and halt per cent to the stockholders, and appropr
ncd an set apart out OF its earnings the necessary
for the payment thereof the ratabe bcne-
dt OF this plaintiff and his tho whole
Amounting $780, 720 and less than the earnings
of the company derived from its business during three
months alter deductng all the expenses OF
company during such three months, and all sums pay
able tor the bonded Indebtedness, and for
Its sinking fund, none of which Indebtedness is Sc
cured by any lien upon its property except its build
ing bonds amounting to 81 49s 600 which secured
upon part OF Its real estate IN Now York city; that
~ plaintiff Informed ana believes the company, by
the declaration OF such dividend, became indebted to
him as holder OF a portion OF It's bonds in tho of
SCI, 900; that the defendant Levi A Dowley was not
at any time the 2uth vi June, 1876 and IS
not now, holder OF shares OF the stock Of the West
ern Union Telegraph Company, appears by the
books Of said company; but Notwithstanding such
want OF ownership, Dowlsy, on the 9th of June
payment by the company to any of its stockholders
tho SAID dividend, and in such suit alleged that he
tho owner OF bonds oil the company Tor 81 600 aud
interest secured by pledge of property, and alleged
that he holder OF 200 shares OF said capital stock
and that the required by the company to pay ITS
declared dividend had been earned by IT, and pay
thereof would be waste OF assets and violation
OF his pretended rights as bondholder ana stockhode
not OF which allegations, plaintiff Is informed
and believes, is true After rccitina the ac OF tenn
poiary injunction having been granted IN that suit. tho
making OF reference Ia the case and the continuing
oi the injunction pending such reference, the COM
plant proceeds allege iurther that the taking OF
proof before the referee and the making OF his reports
and the hearing thereon by the Court cannot be
pietcd, as plaintiff advised and believes until long
after the 10Th inst when said will become
payable that by reason such delay plaintiff and all
other stockholders similarly Interested will be pre-
vented from receiving payment thereof on said
day and Tor indefinite period thereafter;
that tho Immediate and inevitable elect OF
the non payment OF said dividend, by reason
OF said injunction the day aforesaid, declared and
published by said company will be TO excite distrust
and suspicion in the business community as to the
sound condition and capable management of the aiirs
said pany, and will tend 10 deprcciate the value
It's stock in the markets OF the country; that large
Transactions in the purchase and sale OF such stock
sally made in the Stock Exchange, in the city of New
FORK by which its value IN other business centres is
mainly determined And plaintiff alleges, on inorma-
non and beef that the sole object OF the said defendant
oowoy In bringing tho said action to restrain the pay
ment of said dividend is to dcpress the market value
price OF said stock, whereby parties having con-
tracts Tor the sale and delivery OF the same may more
readily and cheaply buy the same for delivery, and
that tho said Dowley prosecuting this the
and Tor the benefit OF spectators Stock
with the object aforesaid; that at the time the
OF said action by the said defendant Dow
ley the sold the New York market at II, and
the 18th inst II had ialcn TO t9al that, as
he is informed and believes. by the rules and
custom OF the Stock Exchange and OF dealers
In stocks in the city OF New York purchasers of stock
deliverable at iuurs day entitlcd tho
dividends declared and able intermediate the days
OF the purchase and delivery that prior to the decara
tion OF said dividend very many contracts for the sao
OF great number Of shares OF said stock deliverable
on days subsequent 10 SAID l5.h inst we're made by
brokers aud dealers stocks which contracts st
outstanding. and any suspension OF tue payment Of
psid dividend will complicate the rights OF The parties
10 said contracts ana will tend TO create confusion and
uncertainty the settlement thereof and will deprive
purchasers Hereunder OF the benefits thereby assured
70 them Tho complaint concludes by asking that upon
,hc execution and delivery 10 Dowlcy OF bond in the
pcnalty Of $50 600, executed by the pa,ntiT and
iuretics be approved by judge OF the court
ioncd for the pay nj TO him his assigns OF any
iamagcs or they shall by OF the grant
Ing any injunction in this action In should be
determined that the plaintiff was not entitled thereto the
said defendant Dowley bcperpetuay restrained and
joined from sueng outs or procuring or maintaining
enforcing any injunction or order which shall may
prevent restrain the said Western Union Company
from paying to the plaintiff or to any stockhoder for
whose this action is brought, his their
assigns the SAID dividend OF 81 so each share Of
stock held by such stockholder the 10th of June
last that the defendant the Western Union Tcle-
graph Company be pcrpetuay restrained and enjoned
payment from the pairtin any stock holder TOR
whose benefit this action brought, his their
uslgns OF said dividend aforesaid declared In the
meantime and until judgment hcren that the said de-
tndants may be respectively restrained in Ike
ner and that plaintiff may have such other and further
relici or boin : may be just
Judge westbrook, TO wnom the complaint sub
nitted ex parte granted temporary injunction IN
terms conforming the foregoing prayer OF the com
plant Accompanying tho injunction an order o
show two 7. M to-day In Supreme Court,
Chambers why II should no, be made permanent and
argument also expected 10 take place the same
time IN the other quite neid day may be cx-
sse,ed before Judge wesibrook.
A PURSUIT, ARREST AND RESUE.
Henry Van Hovcn, a fugitive from Belgium, was
I-rcsted the ais, OF June, at 81 Paul, Ninn. by
Deputy Marshal Crowley. on warrant charging him
silh forgery and taken before Ua,ed Com
nissioncr White. IN this CITY, yesterday. The COM
paiat forth that the 2si Of December 1875 Van
hoven presented TO Nagemacscr sons, bankers, at
Liexc, Belgium forged bin OF exchange Tor s,oo0s
purportns to have the acceptance OF A.
Ic!evre, a merchant of Brussels, and another
forged bill OF exchange for o,5oOL, discounted by
Victor Ferrangc Co., OF Lieec. Auer the discovery
Of the forgery Van uoven cd this country, by
means OF letters addressed TO him and other nforma
lion, furnished by Me-. Charles Mail, Belgian Consul
this city, he traced, hrst TO Texas, and subse-
Quentiy 10 Minnesota upon the application of the
Belgian Minister a mandate issued by the state
Department the slh OF March last, under the
diton treaty with Belgium, and Deputy Marshal
Robinson commissioned to arrest Van
Uoycn Hc at started IN pursuit, and
lfler tracing him from point TO poin, that State
mcceeded in capturing him not tar from 81 Paul on
their way tots city, and while passing through 81
Paul tho Marshal was himself arrested on charge OF