Daily Los Angeles herald., 1881-03-31
Late kilograms.

Late kilograms.
Oas Of sns Bmrks ". Flood suits
SAN FRANCISCO, March 30.-This
morning Judge Sullivan Of the Hu-
perior Court decided one OF the
numerous suits instituted by Burke
against the bonapza firm. The
suit decided is that Of Burke vs..
Flood ct al. The complaint charged
fraudulent conversion Of only q
few feet Of mining ground, but the
principles involved are very i'm
portant. The Judge held that the
resolutions Of ratification at the
Consolidated Virginia stockhold-
ere meetlag were insffsetual be-
cause not adopted by the unanimous
consent Of ali stockholders. All
transactions except. one were held
to be such 1hst the stockholders
might have had notice from the
books at the time of their charac.
ter, or at least sufdc!ent notice to
put them upon inQuiry; therefore
che statute OF lirpitatiops. was held
to have run against all except one
transaction, in which Hepsnden.
field purchased 12} feet Of ground
from George w. Kinney. The in.
terest of the Flood party did not
appear to have been disclosed to
the body of the stockholders, and
the books conveyed no notice
to put the stockholders upon
inquiry. So, that one transaction
was held to be exempt from the Op-
Grafton of the statute Of limita.
tions. The defendants therefore
were required to account for the
profits Of that transaction. This
accounting must, the Judge said,
be to the body Of the stockholders
constituting the corporation. All
holders Of stock at this date will be
allowed sixty days after public no.
tice given by the master appointed
by Court, within which to elect to
take the benefit of the decree here
In, and present their evidences
of ownership. The Court will pro.
vide In its decree that all parties
failing to come In within that time
shall be foreclosed of all claim
against defendants, or either of
them, arising out Of the transac-
tions considered herein. On the
payment of the several amounts
that may be determined to be due
to the parties electing to take the
benefit Of the decree herein, the
defendants will be relieved of all
claim against them arising on the
part OF saId corporation and its
Stockholders. The 1904 shares of
stock issued In this transaction be-
came equivalent, by reason of sew
eral increases In the capital stock
OF the defendant corporation,
and dividends Of California stock
issued to stockholders of defendant
corporation, to six thousand, one
hundred and twenty-five shares of
the stock Of the corporation defend.
ant, and three thousand five hun.
dred and seventy.three shares of
the California Mining Co.'s stock,
or their value ct this date, and for
oil dividends paid on said shares of
stock 40 shown by the evidence In
the trial, together with interest on
such dividends from the
dates Of payment. The de.
PENDANTS are to be credited
with So. 3.539 actually paid for
ground, with interest thereon from
April IL, 1872. It Is estim ated
that the amount OF money Flood ct
al. will be called upon to pay over,
should they conclude not to appeal,
will be between eight and nine
hundred dollars. The decision will
have an important bearing on 9th.
or suits now pending, involving
several hundred Thousand dollars.
The news Of the decision had no
marked effect on the prices Of
stock.
Resssi aisugh EsietioMs Posspop ed
HANFoRn, March S0.-The ex.
pectsd ejectment Of persons occu-
pyiug railroad lands has been again
postponed, probably for the want
Of some one to take possession for
the company. The influence Of the
Farmers' Club, lately organized,
is against any citizen assisting the
Railroad Company by taking any
part In the.matter. 1t 10 composed
Of our best citizens, in the interest
Of law and order, and for the pro-
tecti0n of our own citizens, and
Strictly from neutral standpoint.
This community would deprecate
repetition Of the scenes of May
last. Marshal Poole and his posse
havs lett.
Cesgsessisnsl.
WARRINGTON, March SO.-SEN-
ATE-A resolution was adopted to
pay the funeral expenses Of Sen.
atOr Carpenter. The Senate, by
vote Of 25 to 25, refused to 60 into
executive session. Harris said It
was evident that the Republicans
did not intend to transact the busi-
ness which the Senate had been
called to transact, and moved to I'D.
journ to-day to December. Re-
jeeted. - to 28.
Pendlstop, recalling the Presl-
dents siuaugurAl statement. that
he Would ask GonHrooo - AZ the
tenu1o e Ul&or Qcleers Qf TIE Gov.
$ -