New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-29
THE COURTS.
.,,,,, WESTERN UNION SUITS.

I'll
,,p sTIrF's APrLlCAli"N
BIZ MED.
,~ in the Superior Court, Cham
JuOSo o. randered decision in the suit recently
hers' -, Josiah c. Reiff against the western Union
proueus Company and its directors 10 restrain tnem
,s,in, bonds raise money with whlcn 70 retre
600 600 az stock issued under the cohsohuauoh
' rt NJ 1881 20 represent the surplus earnings OF
ae,,rv The Judge holds that there is no PROOF
attendants intend TO do the act against "hlch
thd ia sopght and that therefore, the inJunc
81 t he denied The following is the text OF the
opinion; - d, ,od n, tho r,atr,,e IN
no - dome nv the defendant corporation or ny any
nav rec ore toward making the mortgage or Donos
oatned Of but all his charges are conversations rad
To- EXCEPTION tBat he has been Informed by Que
WIN that the bonds had been prepared ana executed.
Inv erson is accessible, aud does not Very any such
Inns NOR does the plaintiff swear that he believes
sstssiaenent so communicated TO him 10 DO true Inc
only other fact stated which bears on TINS mater ~ Ig
action Of the stOckhOlders, WIN n"Ne' ~ 10 s
hC is specifically and categorcay
I'D hy the cOmpanys president in the most positive
manner except that there mad been suggesuoh OF
an of The kind referred 10 which did not commend II
la ~ Tho Judgment OF the directors, and disap
SID 81 ty the counsel Notwithstanding this denial
r counsel Tor the plaintiff that the action of
lno ~ enniiy not STAYED II the act Is clearly Illegal
"a trr is reason to believe that II may he done 10y the
SeteHdant The co TT has only one mode by when u
can nave reason believe any fact, aud that Is oy ey
dence pro iuced before It, The pantln docs not
that me has presented such evidence but asks me court
81 indulge IN inercnces THAI wi operate as evidence 10
The disadvantage 81 defendant one oil when lnlcishceS
~ mar Inc directors who have been served are silent
No case has cited. or Is known OF now tna an
iains such dOc;rne There Is 40 more e2"lVu ,, VI
uowcrul instrument comnll'cp 10 Tue court VI Optt
Than the power 10 issue in)dneuoAs ana con-eqGen,5
every UaGe and court has deSred ina "a
., Ssis ~ any doubtful cas- .,.-o
fonbt NJ All every al.gatiOn of importance IS e1-
mr. sly denied We must believe tins evidence anu uu95
reuse the order prayed for But Is luher cohtI uCu
that in denying tuis application. there should DC S
ne1ed thereto CONDITION that the dccnuait eno'u
en- or into a stipulation that VAL prevent injury 70 tne
,i,intd SHOULD the eudant change MS NINA II Ihe
nirrs submitted pres -Htcd doubt ul question: ca
Io,,ers never vet conferred upon court 10 JON
nary rom changing It's mind ID respect 10 an acc tna
!'gIt herf or be lawful ana tUat Is not now GO eih
u aed II would he Jar bottcr 10 abolish all courts O
equity ami leave nJured pares TO their actions az Il"
Cor damages, than 10 permit s0ch uso VI e4di'' P0
The mUuOu must be 0culro
A great deal OF comparatively aiuiless di'estlon was
had Yesterday between the opposing counsel Ia the W"
Jams mi latch suits in regard Of the orders
10 be entered on the decisions Of Judge Armour
Ju1ce Arnoux said that lac would modify he injunction
Sin the lanis suit 20 allow the company 10 pay
The dividend on the 100000 Of stock Issued 70 rep
resent surplus earnings, ID case BOND shouIu DC
gwen to repay the amount vi the olNuoh"s
on such stock into ito treasury "
the company in the Court Of Appeals shouu ho4u
that the stock Illegal General Swayne SAID II was
impossible for the company distinguish between the
stock ISSUED for purpose and that issued LOT an
other. Judge AruOIx said he could so frame the hJunc
fou order as interfere with the payment OF diy
ceuds upon such STOCK could not DO distinguished.
MI VandcIpoel asked the Court to compel
the planuH TO accept such houce %
arrument on appeal to the General Term. Mr..
se4 said mat if ne was entitled injunction no was
"a 20 It and intended 10 nave 1t; otherwise not
Jlc propose T. nave any snort AolCc vi "PP0'
"claiumcd down nls throat -,
fl tue Hatch suit Aaron Z. Whitehead asked tat INC
iuuc ion restrain only the mcnt Oi me DIVIDEND
on Ia 81 OUJUOD OF stock bat also the tausIer 81 tins
stock from hand Eand. such transfer VIII Ohy IN
crease tine hopeless confusion idy all -cd by the
company 10 exist. The ilj mctOn orders nave hotyet
been signed by Judge ArnOuA