The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-07-27
SUPREME COURT DECISIONS.
PREFERRED STOCK CERTIFI-
CATE OF INDEBTEDNESS.

Case of Isadore siIverberg Against
The Savannah Real Estate Loan
and Building COmpnny-Mr. silver
berg VIII Now Recover for the
Amount of His stock While others,
Who Kept Their stock, Get Moth
ing-Ocean Steamship Company
Gets New Trial in the Paige
Case.
Several remitturs were received from the
Supreme Court yesterday by the Superior
and City Courts, the courts below being
affirmed in most of the cases.
Probably the most interesting of these
cases on account OF the point involved is
that of Isadore Siverberg against the Sa-
vannah Real Estate Loan and Building
Company. In this case the Supreme Court
upholds the iower court in holding that
share of preferred stock in a corpora
ton may be q certificate of Indebtedness
and payment enforced as such. 1t was
SO held in the case in question, though the
decision was doubtless based upon the con-
ditions upon which the preferred stock was
issued
On Jan. l, 1898. the Savannah Real Es-
tate Loan and Building Company made
an issue of 1000 share of preferred stock
at a par value of $50 per share The
stock was cumulative, bearing per cent.
interest, and was to mature Jan. /, 1897
The holders of this stock were 10 have no
,oti,,,v r,,,,, l., 49,, ,,>,,,,,,,,,,, IT. ,,,r,
~ ''-e p''''' ''e
pany was unable to take up its stock at
maturity. Mr.. silyerberg had taken five
shares Of the stock. for which he was
oi,.or -,,tv 12i,,r ,t-o4i.e, -,,,.L A..
,,srt ~ "l 80 , WIN Wy
iaoi 80 - - Ii it,. ~
go 80 ortoyi,l,- 80 e ~ en- -
90 ~ sl,;tl f. - - ~ i1,,it
Ma III 1a,;n oilo,,ol1 i,,t, .o.,,,.otd = ~
noIs - 90 sb,,l, -, -, -. "a
~ onter ~. I 'it, ~ % ~ :,
Tns+ico NToat - ~,
- - ~, "a H. - tiit5
e1ft for tbo fmu r,,,t of ~ e.
sbor ~, ~ -, - ''ie ~
it- +,'ri.1iotiC,l '' Wv "''''''
~ esi1,.ort,l,o. ,,.,.. .,,,..uo.,4o, J.. NJ
w " Cor5o9 5 80 -, ~ -, -
~ - Ci 81 az ne ieai est"ue
sor ,,',,'t,. '
II,t a. ~ ~ 'ilg
- ~ i,.a ~
80 " - - iiol,4'il9 10 II i'm
~. - 49,. ~ - . ts'l 80 = -
LII. ~ ~ - 49, - - ~,
80 80 100 - - -
- ~. IIia1 .iiS e'. .i.ilo.e Ii
HefoI, oit,1,,,S, - ~.
- 80
w. - "a az "
1,1'7tta ~ ~ - I'D, - 49,, -,
Cieui'Oi anu iio' q u ''i9 00'iA-
Pay 1,S --,-, - -.
| 80, ~ Noi I 'pi C1llu nc 90 " ''It
| a1ajr1l9 49, ~ et,,,,o ~ z+9lI, 80 ~
claIllieu 'lI9J 1ne smart oi 9loch NSS no
IloiIes LIS - GU li''N ~ ~
suoII ina as 20 elaoie ''e pI ia1lil.ii
10 piis @Ceiol a'igt o9salii JGns men
ny SION, II ''lillSu, oS'lis P.s-
lelleu' NU"u He So So sOI " ~ ~
MN 80 ~ i" I''4i-S ~ VI
PauS on0ii9 .,iid a Ii4.' , - VI
pul "ouIu nc NJ 10 ~ ~ . aiiu a. a.
| pest "Vuia NC eH'''iSU oi'iS ~ P'0 '"'0
SiI Ia t Vi 'lg 1s 80 ,, -. .... ,e.,,
-. - 1I,i,+ ~ ,,Lai9 ~ a.
49, 800 I,,eti5 Nroe,ttr,,s ,rbo
On tba,, ar,ras1o5 70 ~ S+rrar,e
| CD,,r4 ri+t ~ rdg,,I+ stoted T,bo ran,it-
~ .ite nc
~ wa , anu
y yu's ,ttoa -, 80 80 IT, e go
Ne s,i',, Iii ~, ,,aC,e So, w.
III ~ ~ ,,o,, ~, &c rat- eozo ,ttL
1890 49, 10 1850 ~ tba 800 NH
| liz, So ~ no borna Nv, tba cononanv
49, ioT o,t.te oor,,la,,, r,a,+ 49, ~
| -. lf - ve7oi,,o,, no., loo ITO. M
ti1roS W 49,, .,it Is 80, w.
| -, StIi,7o,+ 9aro,iito,. n,,ons ~ nra-
$50 et9oIbo1dors win he he on1,, ono
- , ~ ~ go ai,, af bis bni1inos
~ o9,.ttertos ~ 49, nroI,i7ad IA.
az So -, iii. 10 80 ~ ~, ~,
49, &c. 49, ,'robased fror, The cor,-
| ron1 and many of the nreferred stock
pahy' ailu ~. Ia ~ ttair bnI5inaye in III.
.n,I,,o %
III docsio 10 of INTEREST as showing tho
- ~ ,,ofarrad st1olr ,,ndar s,,ob
o oirai,t,ag5, 1oas F,yervtbine boyeyer
| do,,htIose denends mon the conditions IN.
uer " niom , tHe 80. ~ S,l,,.o, c,,,-.