The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-20

stock Transfer Tax Case ~Advanced-Re-
bate Case Against the Great western.

WASHINGTON, Nov. 1s.-The Supreme
Court to-day advanced for argument the
test case involving the constitutionality
Of the stock transfer tax Of New York and
set IL for hearing on December 10. The case
was brought by Albert j. Hatch, a Wall
Street broker, who was arrested for selling
100 shares of st. Paul and a like number OF
Southern Railway stock without affixing
the required stamps. The Supreme Court
of New York held the law constitutional and
affirmed the imposition of the fine for vio-
lating the law.
The court affirmed the judgm ent OF the
New York Circuit Court dismlseIng the SUIT
brought by the James McCreary Realty
Corporation to recover Sle,OOO from inc
Equitable National Bank as rent. OF tho
building at sos Broadway, which the bank
occupied up to the time OF its failure in 1904.
The lower court held that the lease exc
cuted by the officers of the hank was void
because the bank had not been authorized
by the COMPTROLLER of the Currency to do
business, although the lease was subse-
quently ratified by them. The court based
it's action on the authority of previous de-
cisions in similar causes and lied no opinion
in this case.
hearing the appeal of the Interstate Com
meroe Commission from the judgment OF tho
United States Circuit Court tor the Northern
District of Illinois, Diminishing a bill brought
by the commission 20 compel the Chicago
Great Western and other railroads to re-
store rates on meat products 10 the equality
formerly existing with livestock rates
The commission alleged that the Comblna-
ton TO reduce the rates was n discrimina-
ton against the Chicago packing. house
industry and in favor Of the Omaha and
that it was without power to correct the
evil. The commission thereupon brought
an appeal TO the supreme Court.
In presenting the motion 10 advance tho
case SoliCitor-General Hoyt suggested
that it be heard some time in February.
The court took the matter under advise
ment.
The court was asked To advance for early
hearing q case involving the right OF a
customer when his broner has gone into
bankruptcy to take up stocks which he had
previously bought on margin and were be-
ing carried for him by the broker. The
courts in New York and Boston hold con-
trary views on the subject, and the de-
STABILITY of uniform construction OF the
law governing such transactions is urged as
reason for early action on the matter
The struggle for the rignt to use the
name Of the Junior Order of Amer lean
Mechanics in the State of Virginia was
settled to-day by the Supreme Court IN
favor of the seeding council, which had
been granted a charter IN virginia. The
Court Of Appeals of that State decided
that the virginia branch had the exclusi,e
right TO the name in that State and enJOined
the national council, Incorporated in Penn
s~ylvania, from using the name, the regalia
or the seal of the order, from granting
charters or from designating its officers
by titles similar 10 those employed by the
Virginia society. In affirming that judy
ment the Supreme OF said that a state
had the right to exclude foreign corpora
ions from doing business within its borders
mr. 70 ainof them afypr they had been given
the privilege.
without deciding the question whether
the First National Bank of Jersey City
was entitled 10 hold the deposit of the
Philip Slemmer Glass Company as a setoff
against promissory notes indorsed by tho
company, but not due for a year, the
Supreme Court to-day dismissed the ap-
peal Of Martin Conboy, trustee for the
bankrupt corporation. because the appeal
was not fled within the statutory time.
Counsel argued that the judgment OF the
Court Of Appeals that the bank was en-
titled to retain the balance did not become
final until n petition for rehearing was dis
posed Of, but the Supreme Court held that
the petition was not presented within the
allotted period, and therefore the appeal
had no standing.
The attempt OF Carl S. Reynolds of Lyme.
Conn. TO test the validity Of the Connecticut
statute. which in elect prohibits the sale
OF articles from a wagon or temporary
stand within one mile of the place where
a fair was being held. was unsuccessful,
the Supreme Court to-day dismissing the
case because it was not a final judgment.
Reynolds therefore must 60 back and
prosecute his appeal anew before bringing
il back here for the determination of the
questions whether the law vas in restraint
Of trade or an infringement Of his con-
stitutional rights 10 sell his property and
pursue his avocation. While the Lyme
Grange fair was in progress in 1903 ReynC Ids
persisted in selling provisions from his
wagon within the mile limit without obtain
ing the permission OF the association. He
was arrested and lined 81.
The court took It's usual fall recess Of
two weeks for the consideration of cases so
far heard and will meet again on Monday,
December 3.