New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-05-10
COMMENTS on THE DECISIONS.

DR.. Noryin Green. president Of the Western Union
Telegraph Company, was not dismayod by the an
nouncoment of the decision Of Judge Speir. lie
said in reference 10 the general purposes OF the
suit
S. far rs have been informed by the companys
counsel and by other eminent lawyers who nave
volunteered their opinion on the subject there Is
no sufficient ground for Judge Speirs decision. !
believe that the end Of the suit viii satisfy abund-
antly the correctness Of this opinion. But when one
emharks in lawsuit it is wonderfully uncertain
whom no will finally reach Land. Nothing
is more gloriou.dy uncertain than the law. What
ever the result of The suit may be land OF that have
no doubt whatever. IL can in no way interfere with
the spirit of the agreement under which the telc-
graph companies were consolidated. That agree
mcnt will be fulfilled not only letter. but inspirt
II YVES an essential part Of il that This company
should captail, its surplus before buying the prop
erfv of the other companies. This condition was
imuoscd m do Justice Co tho stockholders of the conf
panv. who were fairly entitled 10 the ac-
c-lcd earnings in Whatever shape they might
be- We could have made thc dividend % cash ouc
but ouiy 1 parting with tho control OF subordinate
COMPANIES. and to retain This was MS mnch for the
interest % thr newcomers as fDr chat OF tho oid
company. w therefore declared stock dividend
surprising of cour that wc had perfect right to do
so. Ifbyany ch9nco the courts should decide finally
that VIC hai uo right. We shni hr Obliged simply to
i-ac something SIS hch viii protect tho r-ht' Of our
stockholders: something n.it better nor poorer
than tho stock We proposed fo fs-uo.
But it fact. The present decision ii1- no' CHANGED
our ,.-,,o.,.,. ,t,. whit We ave uof i,.lfcu set.
r.rari ,d. " They wore designed to overthrow the
.Tbatisnticrly impossible" Dr. Green replied.
"The cancellation l1s hrcn aooonpi hr' and u
We cannot ISSUE stock wr c'n ahd VII Ii'''l "'i'
stock huGrr4 iu sumr other way. n" hi-iiiN' D" i-
rir.t. r.l mon. rar fll't than than ti ni CORPORA
tions .o FIR MS their -k1ol'r- ar "inr Dec
c.e tho urrspugl interests az their o.cor. are nni
sufficient 10 induce different course. hr .uui az
Ito recent agreement for thc union 81 thr Telegraph
ccnpar,i. s. Will Doe fulfilled without doubt
The first news of tho decision in tir contempt Pro
c,o,I,ros eort Wheeler ~. Itrkham over to the
oflep Of tho Union Trust Company auh hc wa.
closctrd with the president for s"in" tune. ms
idcnf King hen questioned. pat que@loh7 lN riufi
ia ,he rcoffr IDS o the nature of The decision, and
said that his caller had brought hun tho hfsi d'hnii
information De- had had iu n.glri q" ~. ate rhlb"l
,bcn foId of tine penalty inflicted hy the court log
fbc violation 81 the order but did not scn az gu
disturbed los tbc general result Tie SAID thHt h'
had 100 comments To- maze. ana r'cri.d ihr Reporter
90 the laWNcrs i"f any moro otUHi" l"l't ''l'
Mir Pcckhain said that ho was away from homo
" hen the original order 81 ilr 'nuri Was fn"'il ,l
"a the counsel If thc Union Trust company Q" o--
cover whether there va autthiug n % to prevent
thc issung Of the certificates %! indrbirdnrs'.
The opinion Wa~ gwen That il' Issue ""id nor poo
violation 81 the order. Tho court Ind now con-
cluie1 that 10 was az aIl events violation OF 90.
spirt Of tine order hui Chat there was un i"ui"ihi
evasion Of it by tle tTi-t company. As the cost "i
determining the question had Co. 20" borne nt SOM.
one the court had dctl!cd th1f the company Al'l.p
pay the counsel fcrs. Asa matter "i la'l MI TO- '-
ham added. Doc company bad up real interest 800 iir
controversy excerpt 10 accommodate, as far ~ posi-
bile d., customers Whatever ilr result ,i W." ''ii-
panv. Ifthc court determined that this method OF
thrclllS the con t'','''. ii.i.,l a., ~, H.
some other mot hod Nonld h' a'i 'rtr" u" ht ''