Schachne v. Corporation of the Chamber of Commerce

The plaintiff seeks to recover the face value of a $1,000 bond, together with interest. The bond is one of a series issued by the defendant and acquired by the plaintiff under the following circumstances.

The defendant is a domestic corporation. Its charter dates back to the year 1768. It was subsequently confirmed and amended by special acts of the legislature. The main purpose of the chamber of commerce is “to promote and extend just and lawful commerce.” It has become one of the foremost agencies in the development of the commerce of the city of New York. It does not engage in any…