Duncan v. Western Union Mining Co.

City of New York Municipal Court

Duncan v. Western Union Mining Co.

2 N.Y. City Ct. Rep. 405

DecidedMay 15, 1887

StatusPublished

This text of 2 N.Y. City Ct. Rep. 405 (Duncan v. Western Union Mining Co.) is published on Counsel Stack Legal Research, covering City of New York Municipal Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Duncan v. Western Union Mining Co., 2 N.Y. City Ct. Rep. 405 (N.Y. Super. Ct. 1887).

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Opinion

McAdam, Ch. J.

The judgment herein was recovered May 12, 1886, for $2,017.12, and has proved unproductive. The defendant’s capital was fixed at $1,000,000, divided into shares of $5 each, of which $999,975 was represented in Colorado property, said to be “ necessary to its operations,” and the working capital was $25. Such a corporation is prima facie a fraud, and should not be favored in a court' of justice. The judgment was recovered six months ago, and should not be opened as matter of favor, except upon giving a bond with two sureties, conditioned to pay any judgment which the plaintiff may ultimately recover. If this bond is approved of within five days, the judgment will be opened without costs. To impose costs (even if they were but $25) would be to- divert the entire cash capital of the defendant to the defense of this action. If these terms are not complied with, the motion will be denied.

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McAdam, Ch. J.

The judgment herein was recovered May 12, 1886, for $2,017.12, and has proved unproductive. The defendant’s capital was fixed at $1,000,000, divided into shares of $5 each, of which $999,975 was represented in Colorado property, said to be “ necessary to its operations,” and the working capital was $25. Such a corporation is prima facie a fraud, and should not be favored in a court' of justice. The judgment was recovered six months ago, and should not be opened as matter of favor, except upon giving a bond with two sureties, conditioned to pay any judgment which the plaintiff may ultimately recover. If this bond is approved of within five days, the judgment will be opened without costs. To impose costs (even if they were but $25) would be to- divert the entire cash capital of the defendant to the defense of this action. If these terms are not complied with, the motion will be denied.

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Bluebook (online)

2 N.Y. City Ct. Rep. 405, Counsel Stack Legal Research, https://law.counselstack.com/opinion/duncan-v-western-union-mining-co-nynyccityct-1887.