New-York tribune., 1881-09-13
TIE LAST CORNER IN STOCKS.
HANNIBAL AND ST. JOSEPH AFFAIRS.

mon stock was not broken yesterday. The nominal
prce of the stock 200, but at those figures
there for sale at the Stock Exchange l. is
understood generally that settlement Of outstand-
ing contracts may be made at this price, but Offer
has been made by either on 81 or the other Since
the elimination of the {" corner it has been well
known that certain persons connected with the
wabash Railroad system had been caught
IN the operation. Various stories have
been told IN Wall Street in regard
to the liability of Amos l.. Hopkins first vlce-pres-
dent of the Wabash Railroad Company, who has
been reported to be short" of Hannibal and st. Jo-
seph stock anywhere from 800 to $500 shares For
the smaller amount it is certain that Washington T..
Connor is RESPONSIBLE. Mr.. Conner recently bor-
rowed 800 shares of Kennedy, Hutchinson & Co.,
the chief brokers of the Hannibal and St. Joseph
pool and 1t is rep rted that when he borrowed the
stock be stated distinctly that t was for Mr.. Hop
kns's account.
However great Mr.. Hopkins's account may be, he
has chosen to carry the matter into Court
Late on Saturday he obtained from judge DonOhue
an order restraining Kennedy, Hutchinson tS Co.
from demanding return of the borrowed stock W.
L. Connor Il Co. from paying any difference the
stock borrowed, and the Stock Exchange from de
claring default and buying in the stock for the ac-
count of Mr.. Hopkins or his brokers. The order of
injunction was obtained Saturday and served
on the defendant firms yesterday before the bogn-
ming of business. No notice was served on the
officers of the Stock Exchange because the
brokers both sides hal already been re-
strained. Afterward, Mr.. Hopkins accompanied by
a. j. Vanderpoel, visited the Office of Kennedy,
Hutchinson Co.. and offered 800 shares OF Hannibal
and ST. Joseph preferred ,oc in satisfaction of the
loan made by Mr.. Connor. The preferred stock is
entitled to dividends before the common stock and
therefore usually sells cons dcraby higher than the
common stock At the present time the common com
manus nearly twce the price of the preferred stock
which was made by Mir. Hopkins was refused by
Kennedy, Hutchinson & Co., who said cor
SsG'H Mr. HopEn, ,ent a1 the sd firm had no wh
then rendered the shares in behalf of his broker Mir
Sbonor Lon bnt this was refused because Mr; Hopkins
hau no authority to act in his brokers behalf. Ev-
erett L. Weston. customer of Russell Sagcs whose
brother is Mr.. Sage's confidential clerk, also tend
cred to Kennedy, Hutchinson & 60. 300 shares pre-
19rred stock III place of common, but his tender was
also refused. He has therefore begun civil proceed
lngs similar to Mr. Hopknss, and has obtained q
These sa1s arr supposed to be brought in the
S MnTon rnIerrs, R lRs F defgndanS % are William Dowd
son son John H. Dnt George H.; Kennedy. John De,
;.oSn Washington 1a +; C1ner Giovanni p. Morosini
the New-YOrk Stack Exchange, Richard Roe,
Joseph Stiles aud William Niles Bis q Schi"v
fen G%'' and COMPLAINT TF h' wfH R1n On mo
afiidavits Judge Donohuc granted an order for
Injunction on which hearing viii be held Sepcm-
tember tI ~ The COMPLAINT rccites that the tIanni-
bal and st. Joseph Railroad Company was incorpor
a,ed under laws Of the State of Missouri that
or The company that Dowd was president Bush
Vice-president and Root salared counsel of The
companv that other defendants comnosed tSe
brolse firms OF Kennedy. Hutchinson 4 90 and
w. f. Connor & Co, and hat others wer stiil mn
known. 1t then alleges that certain of the drfenI-
ants unawfuly conspred together secretly to r1r-
chase or procure the control of all of the com
IN mon stock < OF the company outstanding
10 prevent thr Issue OF any al 1T onal stock or the
conversion into stock of the mortgage indcItrdnns3
or ond 5e e,' c"paa W 70 ony stock in the open market
ais alleged that snch purchases nd loans were in
tended 10 render il impossible for sellers or borrow
ets TO comply WIN the t"uoS of their agreements
pcr1uS, me defendants p's"'Ssel all tie common
stock "f the company outstanding. The complaint
stock and bonded indcbtpdncss of t ic co,nan Tnn,
AYERS that the officers Of the company re used to
thorHeu 10 do both by the charter of the
company and by vote Of its directors
that the company then owed large sums OF
money payable on demand and in cas, of some ot
the bonds III two years hat at the time of tiis nm
laWiul combination the stocl, of The co;plny sold
price was advanced 10 200, aud that none comId be-
bought below this price which was more than four
1t was stated further that at a meeting Of the
directors held June 2, the PR dent Of tie company
had % bGgn authorIcI to sell sued stock but that
and sell 1t; that the plantih. through hs brokers
borrowed OF Kennedy, Hutchinson x Co., 800
shares OF the stock which was then selling
az about ?3; that by the rules OF thc
stock t d5,,n5 E5Ieha9gG the plaintd's brokers
on the extreme penalty of forfeItng their lnrlhrr
ship III the Board some officer uf the Stock TX
change may buy III the stock for the account of tine
br|kcrs and hold them lable for the difference aud
that the brokers may hold the palntih rrspon.ibIc
I0r any SuihH lhey may be compelled to pay in set
temen1 OF snch dlhrrcnceS. Ihc plaintiff therefore
demands Judgment tina the defendants shall be re-
strained from taking any steps toward the further
carrying ont and execution Of this co,tbin1tior
other than by such proceedings in conrt
rs they may be advised to take 10 recover
the stock or Is valnc with damages;
that particularly Kennedy, Hutchinson 4 co. 6c
restrained IRON demanding the del very of such
stock and from giving any 20 ice of deiault or re-
qairmg the stock TO be purchased nndcr the rules
that w. f. Connor ~ Co. be restrained from paving
any sums on account of the borrowed stock or from
accepting or waiyng any notice to deliver it. and
from buying such stock for the account of rho
plaintiff or his brokers.
Tho complaint is supported by the affidavit Of tho
plaintiff who swcars that he has been informed L,
Russell Sage. one of the director, of the rIilrooI
company, that the preSl tent was authorized at a
issued stock rs he might think for the best tcr.ss
of the company, and that although sales of thn
stock have been made within the last four days at
price more than double the price ut which the stock
Is:s.a $ i,"%d .%' 4q@ Ss s G's'.",
further states that he has been informed bv one Of
the defendants, g. L. Morosini, that Mr. Dowd had
said to him, recently: " Yes; we have settled with
lows"
judge popohue granted the, rider of injunction,
and fixed hearing for September %
Mr.. Hutchinson, Of Kennedy, hutchinson & Co
sald YESTERDAY hat he had neither made nor offered
Terms OF settlement: that Inc was merely a broker
IN the transaction and that, although request had
been made to nm, at the nstgation Of MIR. Gould
No. MAKE make an easy settlement with
orders from his principals to make any Settlement
whatever either mt 300 any other price lie con-
siderod the Injunction sought by Mr.. Hopkins and
the subsequent tender OF the preferred stock in !
place of the common stock uninstakablc signs of