Jermyn v. . Searing
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered January 10, 1916, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered January 10, 1916, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The action was to obtain the revocation of a subscription to a syndicate agreement upon the grounds that plaintiff's subscription was obtained by fraud, without consideration; that it had been revoked; that no syndicate was ever formed and that there were no other subscribers. The answer set up a counterclaim for money alleged to have been loaned upon the…
1Opinion of the CourtCrane, J.
Joseph J. Jermyn at all the times herein mentioned was a wealthy mine owner, resident in Scranton, Pennsylvania. Searing & Co. was a copartnership carrying on a banking and promoting business with offices at 7 Wall street, New York city.
The Empire Trust Company was a banking corporation of New York city which acted as trustee under mortgages to secure the bonds issued or to be issued by the four railroads hereinafter mentioned.
• The Delaware and Eastern Railroad Company was organized and incorporated in November, 1904, under the laws of the state of New York with an authorized capital of…
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