Vanderbilt v. Bennett
New York Court of Common Pleas
Hearing, on exceptions to master’s report of the facts and Ms conclusions of law, after hearing on bill, answer, and evidence. Cornelius Vanderbilt filed Ms bill to set- aside, so far as concerned Ms stock, a trust deed entered into by numerous stockholders in the same corporation, for the purpose of concentrating in the hands of trustees appointed for the purpose the voting power on all such stock.
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Hearing, on exceptions to master’s report of the facts and Ms conclusions of law, after hearing on bill, answer, and evidence. Cornelius Vanderbilt filed Ms bill to set- aside, so far as concerned Ms stock, a trust deed entered into by numerous stockholders in the same corporation, for the purpose of concentrating in the hands of trustees appointed for the purpose the voting power on all such stock. Tile corporation was the Pittsburgh and Lake Erie Railroad Company, a Pennsylvania company. In IS77, that company being about to consolidate pursuant to law with an Ohio company having a…
1Opinion of the Court
The court,
in a brief opinion by Stowe, J., confirmed both viewsi and decreed a perpetual injunction against the trustees exercising any voting power on plaintifE’e stock, or interfering with any right incident to its ownership.
(The case is reported "at length in 2 Railw. & Corp. L. J. 409.)
Fisher v. Bush, 35 Hun, 641 (1885). Here it was held that a combination of stockholders not to sell their stock nor give proxy on it without concurrent consent of all uniting in the agreement or combination, was void as an unlawful restraint on alienation, against public policy, and, moreover, without…
2Cases cited10 opinions
- Barnes v. . BrownNew York Court of Appeals · 1880
- Hurd v. . KellyNew York Court of Appeals · 1879
- Quincey v. . WhiteNew York Court of Appeals · 1875
- Brown v. Pacific Mall Steamship Co.U.S. Circuit Court for the District of Southern New York · 1867
- Quincey v. YoungNew York Court of Common Pleas · 1874
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