New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-28
TIE COrRTS.
THE CREDIT MoEILIER scHEMEs.

THE CREDIT MOBILIER SCHEMES.
sUIT BY HE UNION PACIFIC RAILROAD AGAINST
THE EXECUTORS or oAKFs ANEs.
The Union Pacific Railroad Company some
weeks ago began action Henry : McCOmb 10
recover large sums % money alleged 20 have ;ecn
fraudueny appropriated by the defendant one the
directors OF the Credit ober Of America and by means
Of the schemes alleged 70 have been carried out under
that organization. 1t said by the counsel FOR the
company that other SINH lar suit. would be bcsun against
other alleged coniederaies these schemes the total n
the claims amounting TO many millions Of dollars
An order obtained from fudge Brunf. Supreme
Court, Chambers. yesterday, for the service by pubcs
ton OF the summons IN similar suit against the rN-
ecutoIs of O'kes Ames. The allegations boz the COM
plant substantially the those I'm the suit
TRIBUNE. The amount Of the claim Is not definitely
named. Oakes Ames is alleged % have been o stock.
suares. Under the sacalrd "HONle contract"
he Is alleged TO have received 100000 n
"Oales Ames contract" $4,000 In money and Sss9OOO
Of stock aud securities Of the Union Plcihc Railroad
uesc two contracts, the "trparute agreement OF oc-
ober Is. 1857 and the subsequent a4rerm'us modify
ng H. and all the other alleged fraudulent papers and
agreements NJ the same schemes be declared f1udu.cut
and void 40 10 the plaintiffs, and set adr That an ac
counting be taken OF al the money ur securities re-
Inn mi. uatt@P and maj me- tln.9,. n lIll.cl 40
pay over such amounts to the plaintiffs.
ACTION OVER MANHATTAN BEACH STOCK.
The real estate at Concy island belonging
to the New-York aud Manhattan Beach Company. Boo.
Guiding the hotel and other bulldog, was transferred
10 the Manhattan Beach improvement Company
uimitcd. part of the consideration 5000 shares
OF the latter compauy's stock which the railroad
pauy has proposed 20 distribute amou& The stockholders
as dividends. time ago issued 5000 900 81 l..t
mortgage bonds and 100000 OF second railroad bonds
The holders OF the bonds under these mortgages were
by their terms TO have the option Of converting tho
bonds into stocks 40 any time between January 1875
and January /. ISL AmotiOn was made before judge
Potter In the supreme Court Chambers, yesterday. IN
the suit OF Henckey against the Now-Nork and Mar
haitian Beach Railroad Company. Tor au injunction
restraining the defendants from distributing tIU 1000
shares among the stockholders.
The plaintiff holds $4,000 OF the second morris i4e
bonds He and The other huudhOIiprs are entitled %
share M the distribution OF The Improvement, t1mUa-
uys stock they their bonds into stock 1t mo
present time He claims thar TINS dcprye- him 20 bis
right OF making the transfer at amy time before ISL
ANA lessons his security. 10 was also claimed bF NL
VauderpOcL the plaintiffs counsel, that the company
had no night tO distribute tu, dividend, a- DO really rp.
resented part of fht capital stock oi the company 10
was u,wercd by lr Parsons Tor the company that Tee
plaintiff, security increased Dos lur improvements
al the Island moreover that the capital wa. noe lm-
paired a. actual value greater Than al tf't.
Decision reserved.