The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-11-02
AFFAIRS AT THE CAPITAL.
The Unhappy Stockholders of the Pa
cific National Bank Must Pay in Full,
The Supreme Court Holding that Their Plea
Is insufficient Both in Law and Equity
Singular Position Occupied by Swaim
THE SUPREME COURT.

Decisions in Several Important Gases, In
Guiding the Pacific National Bank.
WASHINGTON. Nov IA decision rem
dered by the Supreme Court of the United
States. to-day. in a series of cases known the
Pacific National Bank cases, brought here by
appeal from the United States Circuit Court
for the District of Massachusetts. These were
!. suits instituted by the receiver of the insolvent
Pacific National Bank of Boston against stock
holders of that bank TO enforce personal liability
for az assessment Of 100 per cent. upon the
shares of both the original and the increased
capital stock of the bank standing upon its
books in their names The stockholders main
tanned, when the we're tried in the court
below, that they were not liable on the shares
of increased capital stock held by them, for the
reason that the increase of the capital of $780,
600 to $06l, COO was unauthorized and illegal
and they were not parties to it. This court
holds that the stockholders are liable upon their
shares of increased capital stock that the de-
fensesast law and the alleged ground of relief in
equity are alike insufficient, and that the 1udg-
nleuts and-decrees of the Circuit Court in favor
Df the receiver must De affirmed in all the cases,
and it is so ordered. This decision covers ten
cases in this court and several pending suits in
the courts of Massachusetts,. The opinion was
delivered by Justice Matthews.
decision was also rendered by the court to-
day in the original case of the Phoenix Insurance
Company ct al, against Charles E. Dyer judge
of the United States District Court for the East
ern district of Wisconsin This case which is o
petition to this court for writ of prohibition,
arises out of an action instituted by the Goodrich
Transportation Company. in the Wisconsin Dis
trict Court, to limit its liability Of the
steamber Oconto for damages caused by fire due
to sparks from the chimneys of that vessel while
she was passing up Fox river on her way TO
Green bay. The Phoenix Insurance Company
and the other plaintiffs now ask this court to
grant writ Of prohibition to restrain the judge
of the district court from further proceedings.
on the ground that that court is without iuris-
diction to grant the relief sought by the owners
of the steamer This court holds that there is
nothing in the admiralty rules which warrants
the jurisdiction of the District Court of Wiscon-
sin and that the case is clearly one for writ of
prohibition. The writ will, therefore, be issued.
This court does not however, decide the ques-
ton whether or not the statutory Limitation of
liability extends to the damages caused by the
fire in question so AS to be enforceable in ap-
propriate court of competent Jurisdiction. Opin-
ion by Justice Blatchford.
Motions were made to advance and shear to-
gether, Immediately after the February recess,
all the cases now the docket of the court
which involve the great telephone controversy.
Counsel stated to the court that the records in
these cases comprise twenty five thousand octave
pages Of pPiRted matter, and that the argument
II al! the cases be heard together will occupy a
week or more. The court took the motion under
advisement The records IN these cases are the
most voluminous ever presented to the court
Copies enough of the record to supply all the JUS
tees in the single case of the PEOPLES Telephone
Company va the American Bell Telephone Com
paBy occupy nearly fifty cubic feet of space.
Tie numbers and titles of the cases are as fol-
lows: No 49, Amos E. Dolbear VS.. The Amer
lean Bell Telephone Company appeal from the
Circuit Court Of the United States for the dis
triet of Massachusetts; Nos. 667 and 668. the
Molecular Telephone Company vs.. The Ameri-
can Bell Telephone Company, appeal and cross
appeal from the United States Circuit Court for
the Southern district of New York No. 1892 the
Clay Commercial Telephone Company The
American Bell Telephone Com pany, appeal from
the United States Circuit Court for the Eastern
district Of Pennsylvania; No. 1164, the Peoples
Telephone Company vs.. The American Bell Tel
ephons Company, appeal from the United States
Circuit Court for the Southern district of New
York, and No 1865 the Overland Telephone Com
pany VS. the American Bell Telephone Company,
appeal from the United States Circuit Court for
the Southern district of New York.
In the case of the United States, appellant,
va. The Maxwell Land Grant Company ct al. a
motion to advance was granted and the cause as
signed for argument at the head Of the call on
the first day the court is in session after the
February recess,