La Follette v. Noble
The Superior Court of the City of New York and Buffalo
Action by Harvey M. La Follette against William Noble and others to rescind a contract. A preliminary injunction was granted, and plaintiff now moves to continue the same. The Mercury Publishing Company is a corporation created under the laws of the state of New York, August 4, 1894, and engaged in the business of printing and publishing the newspapers known as the Daily America and Mercury, Sunday Mercury and America, and New York Mercury.
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Action by Harvey M. La Follette against William Noble and others to rescind a contract. A preliminary injunction was granted, and plaintiff now moves to continue the same. The Mercury Publishing Company is a corporation created under the laws of the state of New York, August 4, 1894, and engaged in the business of printing and publishing the newspapers known as the Daily America and Mercury, Sunday Mercury and America, and New York Mercury. Its capital stock is $500,000, divided into 5,000 shares of $100 each, of which 4,985 shares were owned by the defendant Oauldwell until the transfer to…
1Opinion of the CourtMcADAM, J.
It is apparent that when the plaintiff made the purchase he knew that the Mercury Publishing Company was not a paying concern, but was running at a loss of from $700 to $1,150 per week, and he evidently purchased with the idea that when he obtained control this result would in some manner be changed to his advantage. It is more than likely that he had in view the sale which he subsequently made to the syndicate known as “the silver men,” by which he was to realize a profit of about $57,000. At all events he agreed to pay $130,000 for a newspaper which he knew would be a financial burden to…
2Cases cited9 opinions
- Grimes v. SandersSupreme Court of the United States · 1876
- Masson v. BovetCourt for the Trial of Impeachments and Correction of Errors · 1845
- Schiffer v. . DietzNew York Court of Appeals · 1881
- Pryor v. . FosterNew York Court of Appeals · 1891
- Getty v. . DevlinNew York Court of Appeals · 1873
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3Cited by3 opinions
- Copeland v. LuttgenAppellate Terms of the Supreme Court of New York · 1896
- Knabe v. Flameless Gas Stove Co.Appellate Terms of the Supreme Court of New York · 1897
- Powell v. F. C. Linde Co.New York Supreme Court · 1899