The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-03
INTERESTING STOCK SUIT.

A case involving IN interesting legal point and Of
special interest to share in incorporated
panies yesterday decided by Judge Sanford of the
Superior Court In June 1866, Mr.. L. Rockwell received
from j. W Jones 1000 shares OF the stock OF the ST.
Joseph Lead Company, for which he paid So 000 ana
gave a written memorandum closing with the words:-
"The understanding that to give Jones half
OF whatever price the same is sold for, when sold,
over and above that sum- In May, 1868, Rockwell
surrendered to tho company l40 shares and paid It
5000 cash, receiving two ST. 900 bonds. Al maturity
an extension recorded, Rockwell receiving 100
shares of stock dividend In 1866 the stock was
worth S., but the price declined steadily until tho
dcnds aud then the price rose from 81 to So Rock
well died February, 1874. and since then
dividends OF So 206 have been paid this stock. In
December 1875. the Two bonds were bought by tho
company at - 80 each. The stock rs now worth IS
share. Jones, claiming that he transferred them to
Rockwell trust Tor the benefit OF both parties
and that he to be- interested the bonds the
stock, brought suit in the Superior Court compel
the sale ana of the proceeds OF the stock
Judge sanford yesterday dismissed the complaint,
holding that $40 construe the language employed
inparlins an intention on the part OF either party
have the stock and It's earnings held sold Tor their
JOINT benefit would involve an Interpolation OF
matter at variance both with its terms and spirit
As the contingency OF the sale OF tins stock
yet occurred no right OF action, the Court holds has
accrued.
PAYING OUT COUNTERFEIT COIN.
few days ago charge OF passing counterfeit twenty
fvc-cept CONS, by Captain Foley called before
Commissioner Shields yesterday afternoon. Rosen-
batt, 1t will be remembered, kept grocery store at
No. "a East Broadway, and Captain Foley's attention
was called to him by frequent complaints IRON the
neighbors who received IN change many counterfeit
quarter dollars To settle ali doubts on the subject
Captain Foley sent two boys--Chares Mccain ana
Abraham Goodman--to the store of RosenbaIt
10 make small purchases, and they both re-
turned with counterfeit coins they had re-
cevcd change. Al tho examination Captain
Foley testified TO the facts above gwen also that a
Mrs DAVIS OF No Bayard street, had received Two
bad quarters In change from the prisoner In the bu-
rcau drawer oil kosenblars residence, the OF
the store, Captain Foley found $40 counterfeit
money done up in two packages Of $40 each. Charles
Mccain testified to having received counterfeit piece
from the prisoner as did Abraham Goodman On this
evidence the Commissioner held Rosenblatt await
the action OF tho Grand Jury.
HUSBANDS LIFE INSURANCE.
Mr. Henry Butterfly got his lie insured for 81, 900
conditioning that should he be living In 1882 the money
should be paid him, but in OF his death before
then money sh ould be paid to his wife, to whom
an assignment OF the policy made to this elect
In 1872 he got his wife to assign her interest in
policy to one Mccormick. who IN turn assigned 1t (,
Anderson Fowler, The latter claimed The money ant
so did Mrs. Butteriy. her husband meantime having
died and a suit The result Tho company paid III,
money mao court leaving 1t with the respective claim
ans to fight matter out between themselves IN,
case was tried before Judge sauiord OF the superior
Court at Special Term, who yesterday gave his dcc
sion ia He holds that the lie, us shown by
the proofs made the assignment under duress Of hc
husband and that therefore she rs entitled to tb,
money He directs, however, That the money paid b,
Fowler as premiums be repaid 10 him with interest
SUMMARY OF LAW CASES.
A commission de luuatico iuquIrendo has been ap
pointed IN tue case OF DANIEL winkins. prominen
bus ness man in city Tor tho past twenty years
temporary Injunction was granted Yesterday by
Judge Wctbrook ing John Weber from max