Case Name: Henry Anderson, Plaintiff, v. John W. Reid, President, Etc., and The Varuna Boat Club, Defendant
Court: New York Supreme Court
Jurisdiction: New York
Decision Date: 1897-01
Citations: 19 Misc. 95
Docket Number: 
Parties: Henry Anderson, Plaintiff, v. John W. Reid, President, Etc., and The Varuna Boat Club, Defendant.
Judges: 
Reporter: New York Miscellaneous Reports
Volume: 19
Pages: 95–96

Head Matter:
Henry Anderson, Plaintiff, v. John W. Reid, President, Etc., and The Varuna Boat Club, Defendant.
(Supreme Court, Kings Special Term,
January, 1897.)
1. Clubs r- Cannot issue stock.
A corporation created under a general statute for purposes of social sport and recreation has no right to issue stock and confer upon the holders the right to vote thereon as in stock corporations.
2. Same ■— Elections.
Members of such corporations are entitled to but one vote each.
Motion for preliminary injunction to restrain defendants from interfering with plaintiff’s right to vote at the annual election of the Varuna Boat Club on twenty-three shares of stock.
Plaintiff, as the owner of twenty-three shares of stock of the Varuna Boat Club, claimed the right to vote upon his stock and cast one' vote for each share at the approaching annual election. Defendants had declared an intention to rteject such votes.
The defendant, admitting the allegations of the complaint and the statements in the affidavits on the part of the plaintiff, contended that as the Varuna Boat Club was created under and in pursuance of the provisions of chapter 267 of the Laws of 1875, for the purposes of boating, athletic and social sport, as appeared in the complaint, it had no right to issue stock, declare or pay dividends thereon and confer upon the holders the right to vote upon such stock as it did by its constitution, and that the provisions of the constitution to such effect were ultra vires and void. That the members could only vote as such, and that each member had but one vote.
Magnér & Hughes, for motion.
James & Thomas H. Troy, in opposition.

Opinion:
Gaynob, J.
Each member of the corporation is entitled to. one vote. It had, and has, no right to issue stock and make the Votes be upon shares as in stock corporations.
The.motion is denied, with $10 costs.
Ordered accordingly.