Case Name: In the Matter of the Petition of George Gordon Hastings, as Temporary Administrator, etc., of Rosalie Tousey Hastings, Deceased, Respondent, for an Inspection of the Books and Records of Frank Tousey, Publisher, a Corporation. Sinclair Tousey and Others, Individually and as President, Secretary, Treasurer and Directors of Frank Tousey, Publisher, a Corporation, Appellants
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1907-07-15
Citations: 120 A.D. 756
Docket Number: 
Parties: In the Matter of the Petition of George Gordon Hastings, as Temporary Administrator, etc., of Rosalie Tousey Hastings, Deceased, Respondent, for an Inspection of the Books and Records of Frank Tousey, Publisher, a Corporation. Sinclair Tousey and Others, Individually and as President, Secretary, Treasurer and Directors of Frank Tousey, Publisher, a Corporation, Appellants.
Judges: 
Reporter: Appellate Division Reports
Volume: 120
Pages: 756–762

Head Matter:
In the Matter of the Petition of George Gordon Hastings, as Temporary Administrator, etc., of Rosalie Tousey Hastings, Deceased, Respondent, for an Inspection of the Books and Records of Frank Tousey, Publisher, a Corporation. Sinclair Tousey and Others, Individually and as President, Secretary, Treasurer and Directors of Frank Tousey, Publisher, a Corporation, Appellants.
First Department,
July 15, 1907.
Examination, before trial —books of corporation — application by ‘ temporary custodian of stock. .
•The right to examine the books- and papers of a corporation is a purely personal right, depending upon ownership-of capital .stock of the corporation.
A temporary administrator, holding stock pending the contest of a will upon the outcome of which the title to. the stock depends, is not a member of the-corporation so as to entitle him to an inspection of its books and papers.
Laughlin and Scott, JJ., dissented, with opinion.
Appeal by Sinclair Tousey and others, individually and as president, etc., from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on-the 14th day of May, 1907, granting a peremptory writ of mandamus for-the inspection of the books and records of the corporation Frank Tousey, Publisher. . /
James M. Hunt, for the appellants..
Theron Davis, for the respondent.

Opinion:
Ingraham, J.:
The right to examine books of a corporation is purely .a personal right depending upon the-ownership of Capital: stock of the corporation. A stockholder as the owner of stock becomes a member of the corporation and it is based upon this fact of ownership in the corporation that his right is recognized at common law tb examine the books of the corporation, and be. informed as to its business. A mere custodian of stock holding it merely for the purposé of preserving it pending a litigation as to its ownership does not becoriie a member of 'the corporation and as such is not entitled to maintain this proceeding. The petitioner is a stranger to the corporation, and whether he will ever be the owner of any stock or a member of the corporation depends upon the proceeding in the Surrogate's Court. I have great doubt about the good faith of the application, but it is not a proceeding necessary to preserve the interest of the deceased in thef corporation, and I do not think the petitioner is in a position-to institute it. ' '
I think, therefore, the order appealed from should be reversed, with ten dollars costs and disbursements,, and the motion /denied, with ten dollars costs.
McLaughlin and Claeke, JJ., concurred; Laughlin and Scott, JJ., dissented.