New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-28
is WHISKEY a NECESSITY?

LOUIS MARSHALL THINKS 1T Is ESPECIALLY
WHEN LITERALLY wATERED-THE Wits
KEY TRUST LITIGATION.
The stockholders who have been opposing the
plans Of the Reorganization Committee Of the Cat
tie Feeding Company, commonly known as the
Whiskey Trust. through their counsel Samuel F.
Untermyer, renewed the fight against the Reor-
ganzation Committee yesterday. The stockholders
who oppose the rehabilitation. as they term IT, Of
the old trust made an application yesterday after
noon to Justice Beekman. In the Supreme Court for
an Injunction to restrain the Reorganization Com
mittee using certain stock In the reorsaniza-
ton scheme under the name of the American Wine
and Spirits Distilllng Company.
When the reorganization scheme was first adopted
the stockholders OF the cd company each deposited
his stock with the Manhattan Trust Company
and paid assessment OF 81 share. The dis
satisfied stockholders deposited SIS 900 and paid an
assessment OF $4,000. which is held by the
Trust Company for the Reorganization Committee.
II is contended that those stockholders did not
sign the reorganization agreement. and subse-
quently withdrew the power conferred upon the Re
organization Committee OF representing them in the
reorganization plan. They demanded the return OF
their stock and OF their $1,000 assessment. This
was refused by the committee which contended that
II had the right to the control of the stock in the
reorganization scheme.
The court is asked to restrain the committee from
using this money and the stock for the purpose OF
carrying out plan or which they DO not approve.
1t was charged that the committee had incorporated
for SIS. 10000 property valued at slO0o.00 simply
for stock jobblng purposes. Twenty-Five million
dollars OF the stock of the company. 1t was
said, Is watcred. This contrary to law. The
company, 1t was said. was Incorporated In New
York and paid fee OF $4,000 when II could have
been incorporated I'm illinois for nothing. The
son for this is that the Attorney General of Illinois
had threatened TO take proceedings 10 have the
trust declared Illegal
Counsel said that the organization
mercy the successor OF the old trust, which the
courts OF Illinois had declared Illegal
Justice Beekman interrupted TO say that the de-
cs!ons OF the courts OF Illinois not conclusive
or even binding upon the courts OF NewYork. He
said 1.-THE Illinois court declared that the Trust was
against the policy OF that State and not against the
policy Of Newyork."
Justice Bcekman added that the question Of the
good faith OF the REORGANIZATION Committee and
interests Of the stockholders one for the courts
OF this state to decide.
Counsel cited number OF TO sustain his
contention. but Judge Beckman remarked that those
ease applied only 10 the necessarics OF life. The
question Is whether whskey is a necessary OF life
rema rkcd Justice Beekman.
1T seems to me that 1t is" replied Mr.. Marshall.
"Vhiskey II certainly necessary or lie, and IL
seems to me that they have added enough water to
the whlskey 10 make Il come within the cases
To the neccssares OF life
II was agreed at the close OF the arguments that
no further steps would he taken 10 carry out the
reorganization pending the decision Of Justice Beck
man who said he would examine the papers De
cisiOn WAS reserved