Hastings v. Drew

The evidence does not establish that the sale of the steamboat “ C. Vanderbilt,” and four-fifths of the “ Francis Skiddy,” made on the 15th February, 1864, was in fact perfected, or that the corporation known as the “ New Jersey Steam Navigation Company ” parted with its interest in said boats, in pursuance of such supposed sale.

The price bid, $85,000, by Vanderbilt was not paid to the corporation and the vessels were continued to be run thereafter in the name of the “ Troy line ” as before.

It is true that some-of the stockholders were paid off upon the basis of the price fixed for the…