, 1877-11-16
THE COURTS.
.,,dee Moore's Decision Regard
In the Fidelity Stock
holders.
r,,o whisky Condemnation Gases
Brought Up Mt Last.
useord of Judgments, Divorces, New
suits, Criminal Matters, Etc.
TIE FIDELITY.
,,,onn Mot,BK'A DECISION,

TIE FIDELITY.
JupaH Moonk'a DECISION.
Judgo Moore yesterday decided the motion
-. - Injunction on behalf Of the Receiver oi
~, ~. FIDELITY Savings hank to prevent tho de-
Ha.,tors frum beginning suits against tue stock~
si,cr. Of tho bank 10 rcrovcr tho amount Of
s.tr ,,cnt,.its. The charters Of the State Saw.
w.. W." anil Fidelity Savings Banks provide that
'..h ,,ock)oldcr In each Of these Institutions
vi, he lIabtc to tho deposttors for au amount
'.s., 10 lts stock. After these two banks
ss1Ir1 numerous suits wetc begun by dcposltoss
.S,Iust tho stockholders to recover thc amount
- ,hclr deposits. The Receivers claimed that
NJ. liability Of the stockholders WAS an
,..ct In their hanls. 10 be collected and
sls,rbuted to all tho deposltors alike,
mi that few should not be allowed 10 gain
crefereuco At tho expense Of the majority.
Irdpc Otis, Receiver OF tho State Savings 1pstL.
luton, therefore, alcd petition to stop tho
.ro4ecutjons by tho depotltora. Mr.. Turplu.
psccJycr Of the Fidelity, also died similar petit
t,on before Judge Moore. and tho question was
s1aMurately argued III both sides.
inIrc Moore yesterday decided to grant the
toinnction lie said tho object Ut tho statute
On tbe subject was to make pereons lable for
sau.ilzc those burdens between the solvent
ss.9MsEhvdcrs. Thp authorities seca,cd to tndi.
sstc that a court OF equity was
r. psss so,rh to wt'eue sSta,e sy sn .tssnte
an the subject directing and providing RENE:
dy. suIts wcrc generally brought In court or
~. Tho Supreme Court Of tllis State, Ia tho
Lamar Insurance Company ease. had recognized
under the present statute Il, equity.
The gist Of TIC decision Is In tho closlnE para
ersphs, aa follows:
II, swhen \ corporation ecasea 10 do business,
Tso liable IN any way for The dehls Of the eoF,
eng INC ,ep sa" y y i'm ur
tao s9ousst ), tie dspos,.ors agnntt ths stoekhod
es i il not obvious that ereat confnson and great
na't son!inus to y brought in eoI;st!nF ;, tic +.
ss,..ss sss; & seeo.e9' .' :% ss Of ss e s's tss
ftaIi1o tho amount due Them; while Tho Ercator
II attcts IN 1ho Receiver. hands. after the delays
peeeasAry attending the cloa!DR M or Aucn hnst.
mss. il not@ this sec. % intended to eorrsst
Supreme Court would have hold TINT lhe suit At law
va shc only remedy when corporaston nny hsvo
il solvent und doing hus!nsss. and falls to pay .
dcpostor when pronerly requested. there II seen
why sai. :. lay n,sy 20, Gs b,Smpt ', sy
thc corporation as ceased to do lainess, and left
dsbts unpalt. the teu,edy appear to have been
f IL raic esiatllrhcd hy tho Supreme Court still
lie sui. in equity 10 be tns.lsutcu. The rult In
tautty mar he brought nxatnit tue corporation.
asaintt tho stockholders, and AXainet ul' whu aro
liable In any way tos the debts % the corporation
dus On thcif xiock--and aralnst Stockholders for
tie deots Of tne corporntton. Under, The statuto
ihars of thc dobts after ezhanstng Of thu
corporation. This onfy applies 70 tho portion OF
,a e. G ss, s,s e e y 's' ss est
poratfon. The amount to DO pai by stocaoldera
thonla be collected without delay, nnd add.
inc be oil hans, for dc2osltors. II any ono ID dc.
aged Il should 10 thla one, f?E whom tho corpora
Ion ez.:ed. an not ths creditor ot the corpora cry
potaan il inso..ent, this question does not rise.
fs!e provision. Of The satute does not chango. or
Is created by tho chatter. 1t docs not taxc away
my right Of the deposition. It only changes his
ws aS ea1k H. S aS H.
.oetholdcrs Al aro solvent. This 's only appltea.
sses. IL T. does not apply 10 tha isb'iy u ths
'iotkholdsf under ths charter now bong consla.
tted The s!ocKholaer K liable only to tug amount
70 dissolve sad gloss up the hn,inc's
eesysr { the.cfor, WIZ it,. have nu.ho9sy to sue
10 ali eourt., md fot III things necessary to clos
Ing no liz staiss. This language . fall nnl com.
eonntcted with tl!c huslness Of tho bank. Ffon.
there considerations. there T. but one concl9slon
ss eamk @ sTnf . searea - an9 10 10 IN H. & II
The earx." shou!d pay 10 the itseeiver. And il :
nsopes case y prcssuted. oy pstrss ptesdlDss A.,
10 tbs dtseksrre Of ha duties Will be enjuInsd un.
rtstrafncd from 80 doing.
Mr.. Hitchcock. on behalf Of tho Receiver. thes