The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-04-14
Special Dispatch to the Standard.


to-day granted the motion of the Bos
ton & Montana Mining company for a
stay in the receivershp proceedings,
and ordered Receiver Kinds to surren-
der the property to the company upon
the filing of a bond that will protect
who instituted the receivership litiga-
ton and to indemnify the receiver for
any expenses contracted by him during
his temporary management of the prop
erty. This stay holds pending de-
termination of the appeal from the ac-
tion of the lower court in denying the
motion to discharge the receiver
The effect of to-day's decision is that
Receiver Kinds must step down and out
and turn the property over to the Bos-
ton & Montana and is generally con-
ceded to be one of the most important
decisions ever rendered by the states
highest tribunal. The decision forbids
minority stockholders attempting to
throw a great and prosperous property
into the hands of a receiver under any
ordinary conditions. 1T would be an
unjustifiable and unprecedented appl-
CdtloIl ol leSdl )IlllClplGSS IL d Single
shareholder in a growing, rich and div
idend-paying corporation, whether min
ing, industrial or commercial could,
contrary to the wishes of all other
stockholders, oust the management of
his company, tie up the property and
substitute for the regularly elected au-
thorities the equitable control of a
court" says the supreme court. That
single sentence places upon the whole
proceeding the courts condemnation
and shows to the world that the su-
preme court of Montana does not pro-
pose to be party to any action look
ing to the destruction of property and
the ruination of great interests because
of private animosity.
The decision calls upon the receiver
to surrender the property as soon as a
bond agreeable to the court in the sum
| of $250,000 has been provided.
Bond Soon Procured.
AS soon as the courts decision became
| known the representatives of the Bos-
| ton & Montana opened negotiations
with well known Montana property
owners, looking to furnishing the bond
| Local bondsmen were al first proposed
| They were expected to qualify in the
sum of $500,O00 or twice the amount
of the original bond. The clerk of the
| supreme court, who was clothed with
| liking the standing of the sureties Of
fered declined to accept them. Anoth-
| er bond was then procured in Butte
| with the following gentlemen as sign
ers: ID. ]. Hennessy. $4,000: d. M.
Newbro. $4,000; A. F. Bray, $4,000;
James Talbot, $4,000; Thomas Lavell,
| $4,000, and Messrs. Case and Hodgens,
$4,000 each. The bond bearing these
| sentlemen's signatures arrived tonight
on a. special train from Butte. 1t was
approved by Supreme Court Clerk Rick
| erts and service was had by wire upon
parties in Butte and Great Falls, call
ing for a surrender of the property by
| the receiver.
The title of the case passed upon Ny
the supreme court to-day, which brings
about the discharge of the receiver, is
| en- titled James Forester and John
MacGinnis plaintiffs and respondents,
VS.. the Boston & Montana Consolidated
| Copper and Silver Mining company ct
al, defendants and appellants an ap-
plication for stay of proceedings pend
ing appeal, and is what is known as
per curiam," an opinion by the
| whole court
What the Court Says.
The court says: Preserving to our
| selves the right of celebrating our opin-
| ion hereafter. when the appeal is de-
! cided, we now outline our reasons for
granting defendants motion for a stay
In the several phases of this important
litigation which have been before this
court, since the first decision herein
| (Forrester and MacGinnis VS.. B. & NJ
| C. C. and S. NJ. Co., 81, Montana), we
have been closely confined in the scope
| of our examination by those limitations
| which restricted the inquiry of this
court upon prohibition and certiorari to
| the question of whether or not the low
er court exceeded it's jurisdiction and
authority in the order appointing a re-
| ceiver for the defendant corporation's
property and directing delivery of the
! possession thereof to such receiver
| Throughout those cases and the mo-
| tions hereunder we have given to the
| elaborate and frequent arguments and
briefs of the many distinguished coun-
sci on the respective sides our undivid-
! ed attention, moved by an earnest So
| lcitude to reach correct legal results
to the end that the jurisprudence of the
state. so far as il has been involved.
might be settled and remain under our