The sun., 1891-01-11

ration 1t was in excess OF its corporate author.
ity. that Il should become party 70 such an
1s 70 :. fo hs for e: s: cess % %s
ana sosed 6s s% Il iesrssss IL S e
The General Team Of the Supreme Court in
appeal was taken 10 the court oi Ipsssls. That
ssgns 10 second Il ns ts not
sSs sssy TO decide y that \ Was not i1
expedited tho iitisstion. ..WishinS to have the the
.Ss, xha!sSsr the law '' might Ss sSss should
The court recoenized however. that what:
ever restrictions there may be. number OF
u Sns5 snd S e s IL
y within the law. In fact. the avs @ Of All the
States provide Tor corporations to accomplish
This decision made necessary a reorsaniza.
ton OF the trust. A committed OF the trustees
CO Snsss' ssss es Ress q saa
as ss; ss Sal aES "a. %ss
,S|Iassnisasisn, ,|ass, & !ntl.sa sAs a:pssis 3 ssI
Afterward a suit was commenced In Brooklyn
In tho name Of one Duncan Cameron. The
os TO ohss son
,aHS,iS1 irSR JSs.l:ss, Pratt * S.eotly1@ iyy@
with nos.es q ps nesion s ios shs q
Esceivers. The motion was heard and Justice
n .sD0ns II The :u s s.
thsns.lses them sRs s'S Ssd brought. astnH Trey
might " sIsu rsiIsvsd OF 'hs 'sase so'n sa's
An IN the rsspsris. .nd eorpors.icp. .ss IL
cnpss S9 ri sA xss S.a Ss
pany. In the trustees suit Justice Pratt sub
ssauenty made an intsriocutory tudsment
aaon uas sn'cf JSs,e fs' frsst .nn
aussa e as T. ssFPps psss the
psny ] to the amount OF ss pei, cent. ,oi Tho
whole amount Outstanding. Some holders
SeS .s. ds aasd nS Sos sa
those f bestud him are OPP osod % he reorssnI
saSs i. Tor sS granted thai substantially ali the
s ses Ssns & Ps 4lss sFSss
proceeding. before this was done the trustees
is:!!ss Ssia .s! sssEssS
sS Ss ps,
made great nsny charges nSans; sRs '.Ss .nd
nothing in the. charges. Alter . discus.
ea pss So. eed Y orn ssd or 4s fsd:s Of
sron people did not intend to permit trial
Sn s snd Gpss 70 and
seedlings. Practieally there WAS no ORpoeiaon.
eron sui, sHua was % On M shstss out % sSss
total numbe. Of outstanding shares .,.
The obstacles being out OF the way. there
Ia n
change Of certificates for stock in the, new
., Cash q Ss per ru
att at shs rate q ee9
course. So,it ssother diviasnd would nave been
5s 1s PEP DrGsad ssas fn'h
pGO ,Sa s,osy.s Upsn Of ssss scS4ss
!ss !s Seets' 1sps!s; 4: %hs!s .sSs iati%s:
ns thins Was vas wong about the accounts. 10 set
full soy Sss An .ds pvss
yiously BY an accountant employed BY k!ddsr.
Peabody L G.. and had been quite satisiae.
Company S s@countsnt eom pl eted his ex amips.
reported to Justice Pratt that every. dollar in
"There is not one word Of truth In the state
ment that Cameron or his people were compro-
missed With or settled with. The trustees have
They hav. not even paid any OF Csmeron's ex.
penses. He asked to discontinue his suit, and
that the trustees permitted"
John l.. Hi. for duncan Cameron. said be
was satisfied with tho decision and he denied
q report .afoat In Wall street during the day
ations to acouiesce in the plan OF reorganiza.
tlon. Mr.. Lauterbseh. for the receivers. said
fe and bis elients were also aSaf asa11snsdr Gen.
WAS also satisfied. and 30 altogether everybody
appeared TO be saEsfed.
The new company will begin business to-
morrow morning.. The Offices in New York will
be retained and additional ones will be opened
In jersey City.