New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-01
TO FIGHT s1,O87,O74 CASE.
Curtiss VII Appeal from Decision
against Him.
Icy TELEGRAPH TO THE TRIBUNE. !


Buffalo, Nov. 30.-Dr. Alexander NJ. CurtIss,
of this city, against whom a judgment for ST.
nS1, 0I4 80 was awarded in New York yesterday
in favor of stockholders of the American Malt
ing Company, intends to take an Immediate APP
peal from Justice C1arke's decision and to fight
the case. DR.. Curtiss lives at No. $50 West
Ferry-st.. this city, and is reputed to be wealthy
He is president of the Charles G. Curtiss Mining
Company, having Offices in the Chamber of Com
merce Building
DR.. Curtiss IS no longer a director of the
American Mating Company. He retired at the
last general election Of directors. Charles W
Goodyear was elected from Buffalo as repre-
81 -ative of the Buffalo interests in the con-
Germ Friends Of DR.. Curtiss in this city say
that IT this Judgment stands. every one OF the
reno" directors Of DR.. Curtiss is equally liable
Much interest was taken in Wall Street yesterday
IN the decision of Justice Clarke. os the Supreme
Court. holding Alexander NJ Curtlss OF Buffalo.
director OF the American Mailing COMPANY
liable In the Of NoS7,074 to the stockhoIders
OF the company for dividends illegally declared
~ n by the board Of directors between July 15
j M October 49, 1889. With interest DR.. Cur
tlsss total liability is in excess Of 81 10000 The
trial OF the occupied the court from February
| II to March :. Similar suits brought by the same
plaintiffs Victor K McFlheny. tr and Archibald
a Hutchinson. for whom McElheny Bennett
| are attorneys and who acting for themselves
| pany being joined co-plaintif. are pending
| against Grant b. SchIey. Elverton r chapman
| Charles A Stadler, Seymour Scott Charles NJ
! Warner and George F Neidlinger who wore like
| DR. Curtiss directors Of the company at the time
Of the alleged Illegal dividend declarations Vary
| ing amounts claimed from these defendants
! Mr.. Neidlnger, for instance who was present. at
| only one dividend meeting. being charged with
| liability for only the amount Of the dividend de-
clared at that meeting II Is said that suits NAV
later he brought against six other directors not
residents Of this State The directors are ind;vid-
| ually liable that DR.. Curtiss II the iudgr emf
| against him should be affirmed by tho Appellate
| Division and the Court If Appeals would not be
entitled 10 enforce contribution agansi his fellow
directors The first Of these cases 10 come 70 trial
| was that Of OK Senator Stadler which wos an
ing for the plaintiffs the Points Of low presented
Under the New-Jersey law. directors declaring
! dividends. except from surplus net profits or
dividing Withdrawing reducing the ca nit al stock
Jointly and severally liable at any time wirhin
/ six years after paying such dividend to the cor
| porauon and 20 its creditors in the of its
dissolution insolvency TO the full amount Of the
| dividend made or capital stock vrIth
| drawn. paid ont reduced with interest -
etc. This act amended a year go 10 limit the
penalty 70 tne ICtI amount OF loss sustained
| by such stockholders BY reason Of sucb
! withdrawal division reduction" II is reported
/ that a similar amendment 70 the New-York Cor
poraton will De introduced az the coming Sos
/ sion Of the Legislature Under the law OF this
! State directors OF foreign corporatjons SIRE held
! liable under the laws of the State OF incorpora-
! ton. The American Mailing Company is New
! Jersey corporation, and the point was made YES
/ terday by well known corporation lawyer thai
the New-Jersey statute referred primarily to cases
OF corporations brought into insolvency.