84 F.2d 411 (2nd Cir. 1936), 416, Meyer v. Kansas City Southern Ry. Co.

Docket Nº:416.
Citation:84 F.2d 411
Party Name:MEYER et al. v. KANSAS CITY SOUTHERN RY. CO. et al.
Case Date:June 22, 1936
Court:United States Courts of Appeals, Court of Appeals for the Second Circuit
 
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Page 411

84 F.2d 411 (2nd Cir. 1936)

MEYER et al.

v.

KANSAS CITY SOUTHERN RY. CO. et al.

No. 416.

United States Court of Appeals, Second Circuit.

June 22, 1936

Page 412

Walter E. Meyer, of New York City, plaintiff-appellant appearing in person (Samuel C. Coleman and Leon Ulman, both of New York City, of counsel), for intervening plaintiffs-appellants.

Cravath, deGersdorff, Swaine & Wood, of New York City (Wm. D. Whitney, Littleton Groom, and Hugh A. Fulton, all of New York City, of counsel), for defendants constituting the firm of Kuhn, Loeb & Co., executors of estate of Mortimer L. Schiff, executors of estate of Otto H. Kahn, and Jerome J. Hanauer.

Ben C. Dey, George L. Buland, and Charles L. Minor, all of New York City, for appellees Southern Pac. Co., Hale Holden, and Henry W. deForest.

F. C. Nicodemus, Jr., of New York City, Carleton S. Hadley and A. H. Kiskaddon, both of St. Louis, Mo., and H. Brua Campbell, of New York City, for defendants St. Louis Southwestern Ry. Co., E. Roland Harriman, Alfred H. Swayne, William W. Cumberland, Winslow S. Pierce, Frank M. Gould, and Central Hanover Bank & Trust Co., as executors under the last will and testament of Edwin Gould, deceased.

Hines, Rearick, Dorr & Hammond, of New York City (A. C. Rearick, Archie O. Dawson, and Paul Smith, all of New York City, of counsel), for appellees Missouri-Kansas-Texas R. Co., Charles D. Hilles, Willis D. Wood, Richard H. Swartwout, John W. Platten, and James I. Bush.

Samuel Untermyer and Samuel W. Moore, both of New York City, for defendants Kansas City Southern Ry. Co., Leonor F. Loree, William C. Loree, Samuel McRoberts, Andrew J. Miller, Arthur Turnbull, Pierpont V. Davis, and William J. Hutchinson.

Marcus L. Bell, of New York City, for Charles Hayden, Jere A. Downs, Frederick H. Baird, Claude W. Peters, Richard F. Hoyt, Lester Watson, Charles H. Connfelt, Clarkson Potter, Prescott Bigelow, Frank E. Gernon, John R. Dillon, Robert G. Stone, Herbert G. Bell, and Richard L. Morris.

Van Vorst, Siegel & Smith, of New York City (Alexander B. Siegel, of New York City, of counsel), for defendants-appellees Ladenburg, Thalmann & Co. and executors of Mason B. Starring, deceased.

Cullen & Dykman, of Brooklyn, N.Y. (Jackson A. Dykman, of Brooklyn, N.Y., of counsel), for appellees Frank Bailey, William M. Greve, Charles B. Stuart, Halsey Stuart & Co., Inc., and Harold L. Stuart.

Clarence G. Bernheimer, of New York City, for appellee Leo S. Bing.

Bruce R. Duncan, of Brooklyn, N.Y., for appellee Arthur H. Waterman.

Before MANTON, L. HAND, and AUGUSTUS N. HAND, Circuit Judges.

MANTON, Circuit Judge (after stating the facts as above).

The bill of complaint was dismissed below on motions for want of subject-matter jurisdiction. Appellant, a stockholder of the St. Louis Southwestern Railway Company (St. Louis Southwestern hereafter), brought a derivative suit in equity for the benefit of the company to recover from appellees, railroads, bankers, directors, and investors in stock, for alleged damages to the St. Louis Southwestern. The bill of complaint alleges that certain banking houses and others conspired to use the funds of a railway

Page 413

company already in their control, to control other railroads in deliberate disregard of section 5, paragraphs 2 and 8, of the Interstate Commerce Act (49 U.S.C.A. § 5(2, 8), and that in executing this plan without previous authorization from the Interstate Commerce Commission, the conspirators violated the Sherman Anti-Trust Act (15 U.S.C.A. §§ 1-7, 15 note), the Clayton Act (38 Stat. 730), and the Interstate Commerce Act (49 U.S.C.A. § 1 et seq.). It is alleged that the...

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