Turner v. Board of Trade of Chicago
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the Eastern Division of the Northern District of Illinois. Suit by John B. Turner against the Board of Trade of the City of Chicago. From an adverse order, plaintiff appeals. Appeal from an order denying application for temporary injunction to restrain the Board of Trade of the City of Chicago from proceeding to examine a charge preferred against appellant, one of its members.
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Appeal from the District Court of the United States for the Eastern Division of the Northern District of Illinois. Suit by John B. Turner against the Board of Trade of the City of Chicago. From an adverse order, plaintiff appeals. Appeal from an order denying application for temporary injunction to restrain the Board of Trade of the City of Chicago from proceeding to examine a charge preferred against appellant, one of its members. The respondent, a corporation organized under and by virtue of an" act of the General Assembly of the state of Illinois approved February 18, 1859 (Priv. Laws…
1Opinion of the CourtEvans, Circuit Judge
(after stating the facts as above). Appellant’s contention is that section 4 of rule 10 is ultra vires, and that a court of equity should interfere by injunction to prevent the enforcement of a rule of a corporation where the penalty prescribed for violation thereof deprives the offending member of a valuable property right. In other words, he challenges respondent’s authority to forfeit the money value of a member’s seat on the Board of Trade, although he concedes the power of the respondent to expel the member holding the certificate.
[ 1 ] Respondent is organized under the laws of the state…
2Cases cited10 opinions
- Douglass v. County of PikeSupreme Court of the United States · 1880
- People ex rel. Rice v. Board of TradeIllinois Supreme Court · 1875
- Board of Trade v. NelsonIllinois Supreme Court · 1896
- Green v. Board of TradeIllinois Supreme Court · 1898
- Pitcher v. Board of TradeIllinois Supreme Court · 1887
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3Cited by2 opinions
- Waldeck v. United StatesCourt of Appeals for the Seventh Circuit · 1924
- In Re Rosenbaum Grain CorporationDistrict Court, N.D. Illinois · 1935