White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1914-03-22
Supreme Court Renders Decision
Against Robinson Company
Opinion Merely Airms the Order of Former District Judge
Brown Denying the Defendant Companys
Motion For New Trial

fifty thousand shares oil the plaintiff
companys stock good to the COM
pany. Fulmer & Ives still retained
fifty thousand shares of the Robin
son companys stock. This they di
vided equally between them. Mr..
Ives transferred his twenty-five thou.
sand shares to his wife. Mr.. Fulmer
sold one thousand shares to one par
ty and made arrangements to sell an
additional twenty five hundred shares
to other parties, but the latter saie
was made subject to pooling agree
ment, so that, the transfer of thu
stock was not made on the company's
locks On June II, 1907, Fulmer
sold to f. w. HuIse his rema lining
21,500 shares for which Hulse paid
one hundred dollars in cash and the
balance by his promissory note. Full.
mer endorsed his certificate for "a.
900 shares and delivered II to Hulse
and Hulse agreed to deliver out oi
the shares represented by the GER
tificate $500 shares to parties to
whom Fnlmer had previously sold
AT that time the pooling agreement
had expired and Hnlse presented the
stock to the secretary OF the CON-
pany, D. w. Ellis. for transfer AMI
subdivision into smaller certificates.
rhe secretary absolutely refused to
make the transfer or subdivide the
stock. giving as a reason that Il was
subject to pool and also stating that
there were other reasons. After
making several unsuccessful attempts
to procure a transfer of the stock,
Hulse commenced a mandamus pro-
cedure TO compel the secretary of the
company to make the transfer. bI'
the court refused 10 issue the writ
On June %, 1907. the Robinson
company commenced an action
against Riepe. Fulmer Ives. Bertha
Ives and f. w. Hulse to recover fifty
thousand shares of plaintiffs capital
stock. The action was based on the
promise of Riebe to make good the
fifty thousand shares issued to Paul
son and proceeded on the theory that
Riepe's promise imposed trust in
favor of the company on fifty thous-
and shares of this stock and that Full
mer T. Ives having purchased Riepe's
stock with knowledge OF the prom
Use were likewise trustees for the
plaintiff TO the extent of fifty thous.
and shares. 1t was alleged that the
transfers of the fifty thousand
shares by Fulmer. and Ives were with
out consideration and fraudulent and
that defendant Hulse held $4,000
shares in trust for Fulmer & Ives
and that the certificates representing
said "a 600 shares had not been
transferred on the books of the CON-
pany and that the secretary of the
company had been notified by the
board of directors not to transfer the
same
When Hulse found that he was un-
able to have the stock transferred he
went TO Fulmer and told him of his
trouble. Fulmer told him to go
ahead and do the best he could and
II the company would not transfer
the stock then. probably 1t would
later Matters went on thus for a
considerable time. Finally on De.
cember 3. 1907. an arrangement was
made between Fulmer and Hulse
whereby Hulse assigned to Fulmer
his cause of action against the Rob-
inson company because of its refusal
to transfer the $4,000 shares of stock
on its books and Fulmer repaid to
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