SUPREME COURT.—Wednesday. CIVIL SITTING. [Before his Honor Sir G. A. Arney, Chief Justice, and a Common Jury.]

Daily Southern Cross, Volume XXVII, Issue 4406, 28 September 1871, Page 3

SUPREME COURT.— Wednesday. CIVIL SITTING. [Before his Honor Sir G. A. Arney, Chief Justice, and a Common Jury.]

The Court, which had been adjourned from the previous evening, resumecl Bitting this rooming at 10 o'clock, in the action of Ferguson v. McCormick. — The evidence for the defence closed last night, and both counsel engaged in the cause had addressed the jury. His Honor now proceeded to sum up in the cause, and explained the law as bearing on it. At 12.30 the cause was entru ted to the jury. After about an hour's deliberation the panel returned into Court with a verdict for the plaintiff, damages Is, By direction of his Honor, and in consequence of an error made by the jury in ono of the issues, the jury gave damages as nil. Carlson v. Corcoran. — Messrs. MacCcrmick and Hesketh as counsel for the plaintiff ; Mr. W. L. Rees for the defendant. This was an action for specific relief, and was another of the numerous share transactions which come before the public from time to time in so many shapes. The plaintiff, a miner, had held 250 shares in the North Devon Goldmining Company (Registered), which was wound up, and out of this, now called, for convenience sake, the old North Devon Goldmining Company, was constructed a company of the same name (limited), now called the new North Devon Goldmining Company. The holders of shares in the old company, under arrangement, were allowed to transfer them to the new company, provided all back calls had been paid, and one shilling per share besides in consideration of such transfer being allowed. The plaintiff stopped at the house of Mr. Corcoran, a hotel-keeper in Auckland, but he required to go up the country, when, at his request (so plaintiff alleged), Corcoran promised to pay any calls that might be made upon the shares held by Carlson. The following evidence was taken : — James Carlson, plaintiff in the action, deposed : I kriow the defendant Corcoran. On the 12th June, 1870, I held 250 shares in the old North Devon Goldm^ning Company, having, with a man named Bain, bought 500 shares between us. They were bought from Mr. Seccombe. I have been to and fro between Auckland and ether places. When in Auckland I stopped at Corcoran's house. He asked me what I thought about the claim. I told him it was a good claim if I could only stick long enough to it. The claim was lying idle at the time, when I told Corcoran, as I was going up-country, I might not be here to pay the money if there were any calls made on the shareholders. He said, "It is of no matter ; I will pay what money may be due on the shares for you. I will see that you are all right ; you need not be alarmed, for if all the big men in Auckland were to make calls on you I would pay them." Corcoran knew I held 250 shares in the claim. I left Auckland on July, 1870, to go to the Thames for the purpose of prospecting. At this time I was living with the defendant at his hotel. Wh«n I went home in 1869 Corcoran asked me ta look for his brother in London, which I did. I found him sick, aud rendered him a little kindness. This is why Corcoran offered to do me a turn. This was after I returned from London. I then went to Paul's Creek, and afterwards to the Tokatea range, from whence I came down to Auckland to see about my 250 shares in the old North Devon Mining Company. I saw Corcoran in his own bar at the Greyhound. He welcomed me back heartily, and we had a glass of wine together. I said to Corcoran, " I hear you have paid my calls in the North Devon Company." He said "Yes." I asked him how much he had paid, and I would pay him back again. He replied, " That is d rot." He said he had only paid one call for me, and two for himself. I said, " How can you pay calls for yourself when the shares were mine?" He said Tom llussell gave them to him. I said it was curious Tom llussell could transfer my shai'es to him. I said, ' ' Give me my shares, and let me pay the calls." Fie said, "You won't get a penny of that." I said, "If you won't give me my own I must try and get them by legal proceedings. 1 ' I had paid £25 for the 250 scrip. The last time I saw Corcoran I said, " Now do you promise to see my shares paid ?" He shook me by Uie hand, and said, "Jem, my boy, it's all right. I'll pay them for you. If you want any money at any time, say the word. lam for you." It was in November last, when T was at Paul's Creek, that T heard the company wa3 wound up ; but I had also heard that Corcoran had paid my calls for me. The company, when it was wound up, was formed into a new company, and the shareholders of the original company . weie allowed to transfer their shares in it by paying all calls due. This was on sth November last. I found that Corcoran had paid the calls upon the shares, and so I thought I was all riyht. It was the mining manager who told me that Corcoran had paid the culls, — Michael Coicoran (defendant), called by pl.im tiff's counsel as a witness in the case : Knew the plaintiff. Was not sure he (plaiutif]') had any scrip at any time, only from what he had heard. Witness paid a call on the 1 1 th November. The money was not paid by him for Carlson, although Carlson's name appeared on the receipt. Witness objected to the receipt being made out in Cailson's name, and went to the manager about it. He went to the mauager, and said i that was no receipt for the 230 shares he had paid for. The manager replied, " The shares aro yours, but I cannot give you any other receipt until your name is on the register, when I will make you a shareholder." Witness went away, aud in December got a letter from the company, saying there were 250 shares standing in his name on the register upon which there was a call of Is. per share. Witness went and paid the amount. On the 12th Jannaiy there was another call of £G 55., which he also paid. When the scrip got in demand witness sold them, or the most of them. He may have made a few hundred pounds. He became possessed of the 250 shares by paying the calls on them, but he did not know by whom the calls were due. Ho was told by Hughes that the shares were Carlson's, but he had nothing to do with Carlson. He considered lie was simply buying 250 shares in the new company at Is. per share. Anyone might have bought them in the same way. Hughes had told him he might as well have them as anybody else. Carlson had never asked him to pay any shares for him ; would swear that. Got a letter once from Carlson from the Thames, asking for a loan of £5. He never answered that letter. Carlson never held a share in the new company. — Angus White, called, was manager of the North Devon Mining Company (Registered). Jam os Carlson, the plaintiff, stood on the books as a holder of 250 shares. The com- j paay was wound up, having been sold under ; an execution, and was bought for the old company, 6r so many of them as wished to become members. luiew the North Devon Goldmining Company (Limited). It was formed out of the old one. Witness was its secretai y. The shareholders in tha old company were entitled to become shareholders in the new one by paying Is. per share towards carrying on the mine. The date fixed was the 26th October, within which time the old shareholders ' had to pay up before they could have their transfers effected, Jt was afterwards arranged there should be a week's more grace given. On November 10, the sum of £12 10s. was paid on 250 shares, for which he gave the following receipt : — " Pv,eceived from •Michael Corcoran, for J. Carlson, the sum of £12 10s., being a call sf Is. per share on 250 shares." Upon the payment of that call Carlson became entitled to be registered in the new company. At that time there was no call due by Carlson on the old company. Do not remember Corcoran making any objection to the receipt he (witness) gave hire. The next call was made on November 29. £12 10s. was paid. It was a call of Is. on 250 shares. Believe Corcoi an paid that. He said he would not pay any more calls until his name was' placed on the registry, as security for paving these calls for Carlson. {Witness told Corcoran he could nob place Mm on the registry until there had been a meeting of the directors. Subsequently, at a meeting of tho directors, Michael Corcoran j

1 was allotted 250 shares in t'no company. —It was 8 o'clock when the \ut ness's evidence was concluded, when the Coutfc adjourned until 10 o clock the folio winy nioiniug.