The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-02-02
SUPREME COURT FAvoRs ANAL
GAMATED AGAINST M'GINNIss
B. &. NJ. STOCK RELEASED
Individual Has Not Right to Bring
Action lnstituted-state On.
Iy Proper Party.

Helena, Feb. Judge Clancy's IA
nous decision of October %, last, in
the case of John MacGinniss against
the Boston & Montana, which de-
cision was followed by the complete
shutdown of all the Amalgamated
Copper company's properties in Mon
tana, was reversed by the supreme
court this morning. 1t was also re-
manded for further proceedings.
The decision of the supreme court
releases for payment the $4,000 900
accumulated dividends of the Boston
& Montana company, which have
been tied up ever since MacGinniss,
on his ownership Of one-fifteenth of 1
per cent of stock in the Boston &
Montana, began these proceedings.
Stock Market Affected.
The news went abroad at once by
telegraph and apparently had an eff
feet on the stock market in New York,
for it was followed by a sharp advance
in Amalgamated stock.
The supreme court held in it's de-
cjsion, which covers "a typewriter
pages, that House bill 1872, providing
that a corporation may own and vote
the stock of another corporation in
Montana, was constitutional. 1t held
that the Amalgamated had a perfect
right to own, hold and vote the stock
of the Boston & Montana company
and violated no law in so doing.
1t will be remembered that Judge
Clancy held directly to the contrary.
Under today's decision the Amalga-
mated, which owns the very consid-
cradle majority of the Boston & Mon
tana stock, may now receive the
accumulated dividends on its B. & M.
stock, which dividends have been
held up under the Clancy injunction
orders.
Judge Clancy Erred.
The supreme court held that Judge
Clancy's court erred in excluding
testimony to show the alleged bad
faith of MacGinniss in the action. It
was proposed to show at the trial that
MacGinniss was not acting in good
faith in bringing his action, that he
was doing it not to protect from al
legged threatened harm his holdings
in the B. & NJ, but in pursuance of
the general policy of his employer,
u. A. Heinze to harass the Amalga-
mated.
The supreme court says the trial
court should have gone into this mat.
ter and accepted testimony on this
point.
The supreme court also held that
there was no evidence in the record
to support the contention that the
Amalgamated had interfered unduly
with the management of the B. & M
The substance of the decision il
that MacGinniss is a private individ
ual and has no right to maintain al
action against the Amalgamated doing
business in Montana, or whether it j!
q monopoly, such action being main
tainable only by the state; that unde
the evidence in the record the Amal
gamated Copper company is neithe
a trust nor a monopoly; that unde
the laws OF Montana one c%orporatio
may hold as completely as an indivit
uaa stock in other corporations, an
that the same is not against publ
policy. House bill 1872 is incidental
discussed and it's constitutionalit
upheld.
The case is remanded for furthe
proceedings not inconsistent with til
supreme courts views.
House bill 1872 was passed in 1875
and vetoed by Governor Smith on th
ground that it was a corporate
measure. 1t was then passed over til
governors veto. The law gives co
porations the right to acquire stoc
In other companies and to vote it.
The decision will release the Bosto
& Montana dividends, provided til