New-York tribune., 1902-07-22
THINKS 1T Resident FIRM
JUSTICE HALL RESERVES DECISION IN
GATEs-C COLORADO FUEL AND IRON CASE.

GATES-COLORADO FUEL AND IRON CASE
Argument was heard before Justice Hall. in the
Supreme Court yesterday on the application OF
Arthur J. Singer representing Harris Gates & Co.
for peremptOFy writ OF mandamus to compel the
Knckerbocker Trust Company. the Atlantic Trust
Company and Charles T. Phelps. assistant sec
retary and assistant treasurer Of the Colorado Fuel
and Iron Company. 10 permit him 20 see the stock
books and list OF stockholders of the Colorado cor
poration.
According TO the claim made by the relator, who
says he holds s.. coo OF stock IN the Colorado
Fuel and Iron Company. II is required by the laws
of this State that transfer agents for foreign cor
porations shall furnish 20 stockholders hSts OF
the stockholders Of record \ demand was made
by Singer and John F. Harris for the stock book
the stock ledger and other books but the knickrr-
booker and Atlantic Trust Company refused 70
give them up holding that the books were their
property, and that they could not De- compelled 10
show them 0 Singer and his associates.
F W NJ Cutcheon submitted af1davits by nger
and Harris telling Of the demand By them on the
respondents for the books. IN which Singer said
that Phelps had informed him he had not the
stock book required Be kept. either IN h's ofce
or in the Office Of the transfer agent OF the fuel
and iron company The knickerbocker Trust
Company admittedly had the stock transfer books
and also a stock ledger usually kept by all trans
fer agents The Atlantic Trust Company ad-
ntted # had In its possession the stock register
or kept exclusively with reference 70 the stock
The transfer book. called. contained blank as
slRumeufa the transfer 81 STOCK. ana the STOCK
ledger an account with each shareholder nf the
company which could at any time be balanced
The regular annual meeting Of the Colorado Fuel
and Iron Company. Singer alleged, had been an
nounced for Wednesday. August n. and the trans
fer books would be closed not later than July 81.
so that further transfers from that date TO Au-
gust % would be Impossible He desired to obtain
the names and addresses of the holders Of
stock and the shareholders OF the company for
the purpose OF communicating with them and con
ferTnE & WITH a men tn attend 1a the annual metnr and
cooperate with him as to the management OF the
On behalf OF the respondents Charles r. Phelps
IN an affidavit admitted th9t e. 9eanh msr h9d dr been tn
stock hook which he refused to give up because in
book or any other book Containing the infoLna-
tion required TO be kept in snch 3 book. and he
had no books or papeTs "nlch W1ulG 70, tuEnlsh me
Information they sought lie said that IN ar an In
said he had list Of the names Of the stock
holders Of the company. which nad been compiled
this list did not comprise he present
6Imsef 6f ng in IN He said the romnany had been
enpted from license as a foreign corporation. on
state BENJAMIN Harmon In an affidavit said az
did Mr. Phelps that the fuel COMPANY had no
Charles Baker tr.. the audito: Of the Atlantic
TTs5 ddrporaton had in its posssson certain hooks
constituting the register OF the stock OF the
son9I and private property Of the trust COMPANY
and it had books or papers belonging 10 the
Mr. cutcheon contended that the offices showed
tust the contrary.
Doesn't this company sell any of its products
I'm Nev-York2" Justice Hall inquired.
Fen niamin Harmon said. NO"
Where does it get it's money from?" asked Jus
tica Hall
MT. Harmon dd not reply, and Justice Hall
asked 8 the dividends were not paid here.
From moneys paid here" continued the Justice
Does not the company belong TO its stockhold-
ersg''
Mr. Harmon said the dividends were paid from
the office in Denver. The only officer here was
Mr.. Phelps
81 think shall have very little hesitation said
Justice Hail. "in finding that this company is a
foreign corporation. having place for the trans
action Of business In this State. I cannot under
stand why you should not be considered a resident
for the purposes OF taxation. This proceeding
however. is under the statute which gives a stock
holder the right 10 see certain books. This Is moi
a question OF taxation"
Mr. cutcheon said that the two trust ComDanies
the paid agents and hands of the Denver
company. and account Of their action had rem
dered themselves liable 20 proceedings by the Al
tornsy General to have their franchises forfeited
Justice Hall reserved decision