Arizona weekly journal-miner., 1901-12-25
THE CoBRE eRANDE DECISION.
What The New York Supreme Court Had to Say About Greene and His Associates in the Above
 Company.

In the opinion handed down by the supreme court of New York, in the suit of Axel Hallenborg against the Corbe Grande Copper company the following synopsis is taken from the New York Sun:
 "The plaintiffs (Hallenborg's) the ory of this action is that it is brought by him as a stockholder on behalf of the Cobre company, and in the com plaint facts are alleged tending to show that the officers and directors of that company are acting fraudulently in their own interests and in hostility to the interests of the corporation, in the matters concerning which, redress is sought in this action, and conse- quently an application to bring this action would be use less and unavailing. These allega- tions lay foundation for the direct intervention of stock holder in be- half of the company"
 The court then set out that it was alleged that the Cobre Copper com pany owned mining properties in the Republic of Mexico worth $5,00O,000 and that it acquired the mining prop erty by the assignment of one Mitch ell to Greene, land that Greene and Mitchell and their confederates, it was alleged, formed scheme to de- prive the Cobre Grande Copper com pany of said properties and to ac- quire the same for themselves, and that by trickery, fraud and force they wrongfully took possession thereof, and that thereafter the de- fendant Greene and his attorney, one Chase, organized the Cananea com pany and the said Greene assumed to transfer the said properties to that company"
 After referring to the other charges of fraud and conspiracy set forth by Hallenborg, the court said:
 "The material allegations of the complaint are sustained by the affi- davit presented by the plaintiff (Hal lenborg) on his application for the injunction order appointing receiv- CT.
 ''The relief demanded in this ac- tion;" continued the court, lis that the further consummation of said fraudulent conspiracy to settle and discontinue the said Allegations be permanently enjoined and that the enforcement of the judgments in the Arizona suit dismissing the complaint and directing the delivery of the title deeds to Greene be permanently en- joined and that the defendant be en- joined from making any disposition of the interests or the property of the Cobre company"
 In conclusion the court, in the ma jority opinion, said:
 "So far, therefore, as the temporary injunction restraints the further con of the fraudulent contract and transfer of the mining properties in Mexico and the delivery of the deeds and title papers thereto and the settlement of the actions pending in Mexico, Texas and New York, or the transfer of the property involved in those actions or the proceeds there of, it was properly granted and should be continued until the trial and de- cision of the action on the merits. If the court in Arizona should appoint a i receiver its order would not operate on the fund belonging to the Cobre Copper Co. now in this state. On | the case as now presented, that fund is now in jeopardy and liable to be lost to the creditors and stockholders of the Cobre Co. through collision, fraud and mismanagement on the part of its directors. In such a case l court of equity has inherent power, 1t the suit of stockholder, to ap- point receiver of the fund to pre- serve if until final iudpment