New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-16
HUTCHINSON'S EXPULSION.
HIS TRIAL NOT PROPERLY CONDUCTED.

JUSTICE LAWRENCE CONTINUES TIE INJUNCTION
AGAINST THE STOCK EXCHANGE.
Justice Lawrence, Of the Supreme Court,
continued yesterday the injunction restraining the Stock
Exchange from interfering with the privileges OF William
j. Hutchinson a member OF the Exchange. pending
the decision OF his suit for reinstatement that body and
for 100000 damages for bis expulsion Mr. Huchin-
expelled from the Exchange by the Governing
Committee because OF charges OF obvious fraud in his
dealings with John r. Dun. These charges pre-
sented by a select committee Of i've members who re-
ported upon Mr. Hutchinson's transactions with Mr. Duff
After prolonged litigation Mr.. Hutchinson secured the
evidence upon which his expulsion had based This
evidence given IN Mr. Hutchinson's absence by Mr.
Brouwer and Mr. DUFF. motion TO allow Mr. Hutehin-
TO examine the witnesses contradict their
statement had been voted down In the Governing Com
mttee Mr.. Hutchinson brought his action against
Frederick y. Lawrence, president OF the
Exchange, for reinstatement and damages. Pending
this suit temporary injunction obtained restrain
ing the Exchange from interfering with NJ H. tchinsOns
privileges "a a member OF that body.
In continuing this injunction Justice Lawrence first
reviewed the twentieth article Of the constitution OF the
Exchange relative TO obvious fraud This section is
should any member be guilty 81 obvious fraud. OF
which the Governing Committee shall be the judge he
shall, upon conviction thereof by vote OF twOhirds OF
said committee present declared by the members to
he expelled and his membership shau escheat to the tx
change" THE plaintiff in this declares" said the
Exchange and has obtained injunction restraining bis
exclusion. He alleges that while it is not within the
power Of court Of law equity to retry the question on
its merits, TO whether member of the stock Exchange
has been properly expelled he is entitled TO the decision
OF the upon the question whether he has been fairly
treated according the constitution which he has signed,
and according to the rules Of natural Justice, which
ought to regulate all Judicial proceedings not
exercised by court with full judicial powers but by a
body selected by the agreement Of the parties IL must
be conceded that the Governing Committee Of the stock
Exchange bound by the ordinary rules OF judicial
proceedings But the courts authorized 10 interfere
for the purpose of holding the association to fair and
honest administration OF its rules. In this there ia
appeal from the decision OF the Governing Committee,
and II It's proceedings fair and the members thereof
actuated by bias. prejudice partially. their
Judgment must be deemed TO be conclusive upon the
rights OF Mr.. Hutchinson.
Tie examination Of Dua and Brouwer after
TO mind, unjust ana unIdf 20
the latter and an OF the opinion that b. presented
Hutchinson had read bis answer, both sides had been
heard and II II was intended 90 take any further evidence
required that Hutchinson should have been allowed 10
confront hi- accu-er and to crosse xaue him n respect
any evidence which he mi-htve before the Governing
Committee particularly in view W the ttct that Dan had
refused % be- cro-seXamuei by Hut 1usJn before the
special committees.
II do not TO he understood saving that the
gentlemen who conducted the trlal or HUTCHINSON "ei
nor actuttod bv the honorable motives DO not
mean % be- understood az saying That Mr. Hutchinson
proceedings which neid upon juno g. -~4 90 the
meeting of the Governing Committee ~ fu and honest
administration of tIe constitution ana rules of Che -lot5
and Brouwer after Hutchinson had retired upon points
vitality affecting uis character reputation and property,
sense it wa contrary the rule which should obtain I'm
an proceedings had n bodies -uc the.-took Exchange
my DUTY 70 continue the injunction heretofore sIanied
until the cause can ue tried