New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-05
THE STOCKHOLDERS WIN.
AN INJUNCTION AGAINST DIRECTORS
uusrrcE PArTERsoN's RULING IN THE oA'~ VI
THE OREGON RAILWAY AND NAVh
CATION COMPANY.

.-~ Injunction obtained by Brayton
-. .na other stockholders OF the oregon hs""ay ~"
N,rtr>tion Company. restraining inc a'roos - -
o,.con Railway and Navigation COMPANY ~,
.truotinc branch itues In Oregon 81" .D.o..
"a Id.bo Territories from building onose Aoro'S
snu - p,var At pifarla and nom us!rg the pro
-. =, .nv consolidated bonds OF the Niegoh NAL
-, and Navigation Company, or any VI 'no oonu'
nm deposit with the Farmers Loan anu ir"s' 80,
many for the purposes of ccrstr"cuoh' ""S
and continued BY Justice Patterson IN quo 0"p
.Tourt Yesterday In a long opinion tho 'udee sa,s
az .h,I the plaintiffs made out case cn'i''hN
go ,.nno,arv Injunction until the whole case
-. ~. rresented and passed upon, the same oeins
oa,6. 60 as to strike thercfrom all restrain oaou
anon the provsiors respecting the joint lease
~. Nortbern Pacific, Union Pacific, oregoh on'i'
sIn. and Oregon Railway and Navigation companies
and providng that the defendants. etc, oe eno"oe
49,, building or aiding In building the br'hse OF
go, roads and from using the consolidated oonus
,,r nroceeds within the jurisdiction OF the court at
M time the injunction granted, for the purpose
=, ouch building unless with the consent OF inc snare
,hers of the defendant corporation until the Irne'
order Of the court The order Is TO be se"ieu vi
81. DAVIS, notice. and the plaintiffs are required 10
-. order file their complaint, be prepared to
60 a.. CAS-. when at Issue soon as reached, ana 10
I'm. anv appeal that may be taken from me oruor
-, ~. next General Term. They are urecteo 70 iio
an additional undertaking in the sum Oh @'',ooo
The Judge says II is conceded thas 'no o''1s0 g.
,,ro,osed lines or branch roads arc ~
The territory assigned by 'he .a,r,
contracts as well as py o .,.
LEASE IN the Northern Pacific Company No.
aease foil through as the Oregon Railway anu 80
ton Company was prevented by an in,uhcuon 'o"
nv an Oregon court from uniting III IT, Ai'o'""'
certain directors Of the Railway and NaVlgauou No"
,anv and thc president OF the Union Pacihc COMPANY
annarently at the iDsugation Of the latter co'p''
determined TO build certain branch rosds anu 'a0
,,adoe a. an outlay Of s3,6oo.269. The deiehasn's
claim that the action Of the directors was sane on
s,v the shareholders at a meeting on June Is ias@
The Judge considered this the principal ooIec.o"
., tho Injunction and says that IL this were SO 'ne
,n,rnc,ion would be dissolved. He holds that " Is
Quite evident that none Of the proceedings oi 'ne
,,,rsctors numerous meetings wore reac 10 the s'"oA
Ao,ders at that meeting and that the pis'n''s "or0
,n,sed He declares that the building OF the 'nfeo
hr,ncb lines and bridge would be greatly injurious W
a.. Dragon Railway and Navigation Company anu ,se
s.ochhoiders He declines TO hold the uani0 ~ei0'
s,ents void Incidentally he says: ,.,. - ,hs
Tbs iease NAV be terminated by uelsu,r VI s ,
,..sce and n is plain that the guarantee oi nhs -
n.c,Nc &c a prec arfous security. especlah! III VIC" "a
a., rsIations with the United States Goverhnen.' an
ortsion Is made I'm the Short Line lease 1or oc vi
urgency Of the invalidty OF that guarantee oo's u
Ella