The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-04-14

troll of the court. While on the other
hand they constitute 50 strong prima
facie showing for susprnding the au-
thority of the receiver and ordering
him to turn over everything in his pos
session as receiver 10 the Montana
company, that it now seems to be en-
inently right to order it to be done.
These orders for suspension and resti-
tuition are, by many well considered
cases. the proper ones to make in
granting the stay. Estate vs.. Hirzel.
Mo. 81, So W. 921: State vs.. Johnson,
l3 Fla. 80: Moss Cigar Co. % So 544;
Buckley VS.. George, Il Miss, $50; Far
mers National bank vs. Backus, 63
Mimi, 115.)
1T may be that upon final hearing
the decision will be against this prima
facie showing. If so, the bond to be
given will afford plaintiffs ample Sc
curity, and the receiver can be re-
invested with possession Courts will
protect minority Shareholders against
fraud or such gross encouragement as
amounts to fraud: still the cases where
receivers are appointed are exceptional,
and never on a slight or unsubstantial
showing should court continue a re-
ceivership for solvent corporation
which has apparently removed all ne
cessity for the controi ct its property
by the court and where every possible
shareholder who feels aggreved.
1t Would He Simply Wrong.
ut would be an unjustifia BILE and un-
precedented application of legal princi-
pies if a single Shareholder in grow
ing and rich and dividend paying cor
poration, whether mining, 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 corporate authorities
the equitable control of court. We
apprehend that, were such the law,
courts would soon become business con-
Germs for the execution of commercial
affairs rather than forums for the ad-
minstrati ton of law; while corporations
would find their managers. not of their
own regular selection, but chosen by
judges at the instance Of few dissat-
istied stockholders. But it is said the
defendants officers are in contempt
and are without the jurisdiction of the
courts of Silver Bow county, and there
fore the corporation is not in position
to be afforded relief on this applica-
ton for a stay. Not so. The district
court heard the motion to vacate the
order appointing the receiver. 1t has
not held defendants officers in con-
tempt, nor did it put its decision de-
nying the motion on the ground of their
being in contempt. If it had, different
points might be presented. Certainly,
until the lower court has decided that
a contempt of it's orders has been COM
mitted, we cannot presume the persons
charged are guilty and punish the cor
pofation before the alleged contempts
of it or tits agents have been passed
upon. II there are proceedings now
pending in the lower court against the
corporation of it's officers for contempt
that court will dispos a,aaf them, and it
is not for this court to consider them
here.
ITO conclude in our Judgment, the
stay should be granted and full restitu-
tion made pending final determination
of this appeal, and the receiver directed
to take no further action With reference
to the affairs, interests or property of
said defendant Montana company, or
any part thereof upon that company's
| executing bond in the sum of S250000
with not less than two Sureties to be
| approved by the clerk of this court, in
| effect conditioned to pay any and all
damages accruing to plaintiffs as
| shareholders on account of the stay
| granted by this court, and any and all
| disbursements or expenses made or in
| CURED by the receiver and for which
| the defendant Montana company may
| be finally adjudged to be liable, and
| may be entitled and for which defend
ant may be held liable, and any and all
costs that may be properly chargeable
| in any proceedings had in and about
the receivership The receiver should
be retained pending this appeal, unless
| the district court otherwise orders.
| Counsel are requested to draw and sub
| nit to us an order agreeable to this
memorandum opinion. The stay is
| granted
To Mr.. Kinds.
| The court also made the following
order in the case THE petition of the
defendant, the Boston & Montana Con-
soidated Copper and Silver Mining
company of Montana, and the respect
i've parties having been heard thereon
| by counsel, on the 18th and 18th days
| of April 1899. and the matter having
been further considered, it is now or
dered that all further proceedings IN
| the matter of the receivership herein
be stayed, pending the appeal herein
and that the receiver be. and he hereby
| is directed to surrender to the defend
ant, the Boston & Montana Consoli-
dated Copper and Silver Mining COM
pany, all of the property now in the
| hands of the said receiver, or under his
control as such, and to take no further
action with reference to the affairs
| interest or property of the said defend
ant company. or any part thereof upon
the said Boston & Montana Consoli-
dated Copper and Silver Mining COM
pany of Montana, executing and filing
with the clerk Of this court a bond II
the sum of $250,O00, with two or more
sureties, to be approved by the clerk oi
this court and conditioned to the effect
that the defendant shall pay any and
all damages accruing to the plaintiffs