New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-07-08
THE COURTS.
TIE WESTERN UNION DIVIDEND.
MOTION ~ TIE SUIT BROUGHT TO RESTRAIN PAY

MOTION ~ TIE SUIT BROUGHT TO RESTRAIN PAY
MINT.
4 preliminary motion in the suit of Levi 4.
Dowiey against the Western Union Telegraph Company,
brought restrain tic payment OF the quarterly dividend
o, = per cent Jaiy l., argued yes eray before
Judge Wcstbrook In supreme Court, Chambers. TIE
motion vacae an order for the examination of r.
n. Eochcs r. the Treasurer OF the western UncI Com
rany before referee which had been granted by judge
DoaohU, tho ground tLat he lad refused 10 make an
affidavit required by the plaintiff for use on The HHin
motion. whether the Injunction shall be made permanent
which Is 70 b. argued to-day FIR. Dowlcv, in his
AFFIDAVIT which tine original order based, sets
ont that The Western Union owes S6,il $3.50 funded
de5t ana a bouJho,ier he is entitled 10 have al
tine securities kept intact; tlat the declaration OF this
dividend "il require the payment Of SjuG72Oi that
the Company Processes 10 have earned S73j,fSS 81
profits of tie last quarter, but Dec. 81 It
reported SSjl,5S9 J3 deficit This not made up
IN the ueNt quarters earnings within S6-,593 Is so tGat
the COMPANY only has IN feet net profit los IFS own
account OF G72GS9 3d. TIcu there SIj6J7G 90 TO be
paid Tor the interest and towards the sinking In l. and
another amount o. S3293O 60. which 1t IA admitted Is
charghlc TO the past quarters profits. Add S6200oo
du contracts with the Southern ana Atlantic Te!e
gra1b CImpauy and 10 loycs only Sl>33ll 80 as real
profit Tn addition he Company is under contract for
500" miles new virc which hen uut Up VIII have
cost not less than 100000 qnl This PUTS the Company
in actual deficiency O; 53iG6as H. still further, the
Company mas mcalel rs profits $4,000 obtained on
the cXa'aJsr OF preferred stock OF the international
Oacn TELEGRAPH Company for common stock Of that
Company, which - reilly loss ~ assets, he Ovid I'd
the prc:crfod being guaranteed while tie common
stock IS mover iACly have dividends Ar1I there
j. sue aided fu g mp ti" APP aren't balance S}u22f2,
TIE proceeds OF bonds sol l. tive % s true, but
uI.."g no and confuse! into the present net profits.
III" !aHttJu yriJy based All ia;it That
". leicester had been requested TO ar tu an aLG-
t, hat To the amounts. bat IA other !c> "cts tl,
tu HE present cuuC ton ot the various tp-E ca"g
Do Mr. DuW!cNS an idvt; trUt no had refused ~ mIkc
any su"I aI iIyit, though TINS important ip tie
r'Iuiid ru the ma 10 ~ made today Nf ~firr, Hp-
pnIrGg Tor the uglcu.Ht- ed at this alttt was
detective, Mt showing tHUt tA- Information was u.cts-
sty, Iat Mr. Rochester had refused 10 swear 80 any
which really .ii,avj. J. NJ Gull au, f.r
tic plaintiff, INSIST that the act aU ho"tiu" TIE po-
cu. ~ an affidavit Jy compassion sliy ur5.t trHt
parry WHO could not give particulars ui-Ht require one
could 20 give them ~ az las u framed o'LerNi-e
IN pr'i'r. foru.
iIdsc W,stUro0k granted the motion yacatc Judge
buipuu .. ORDER Ing ,dt e douZt tIt act did nos
HtLa'Il the ties iimony 10 hc taken lu that way wien
o." Affidavit uut mi, ard Zee 10 more ready 10
decide ~ ibis way. because when tie main motion canr
0r hearing 4 appeared tGat the knowledge which
NJ. Rochester O. her officer OF the Company Rad
necessary To the decision o the II NJld te
,IiinIy villain the power 81 the judge 10 order
Tcic, nee, IN wsn any person nuIt be required 10 give
evidence % any facts, WHICH "a Tie pagers were
doubtful, aud such ref renee Witnesses might De not
only examined but cross examined.