Beardsley v. Arkansas Ry Co
| Decision Date | 06 May 1895 |
| Docket Number | No. 199,199 |
| Citation | 158 U.S. 123,15 S.Ct. 786,39 L.Ed. 919 |
| Parties | BEARDSLEY v. ARKANSAS & L. RY. CO |
| Court | U.S. Supreme Court |
Paul F. Beardsley filed his bill in the circuit court of the United States for the Eastern district of Arkansas against John D. Beardsley and the Arkansas & Louisiana Railway Company to enforce certain rights in the railway under certain alleged trusts, which resulted in a final decree, February 24, 1887.
The decree adjudged that complainant, Paul F. Beardsley, pay to defendant J. D. Beardsley the sum of $7,756.29 within 30 days, with interest from December 24, 1886; and that, upon such payment, defendant J. D. Beardsley convey and deliver to complainant or his successors of record, or into the registry of the court, one-third of the full-paid stock of the Arkansas & Louisiana Railway Company (less one-third of eight shares issued to the directors), which had been issued or ought to have been issued to defendant J. D. Beardsley, and which one-third amounted to 1,704 shares, of the face value of $100 each; and that at the same time defendant John D. Beardsley deliver and convey to complainant or his solicitors, or into the registry, one-third of 144 first mortgage bonds, earned under a construction contract between said defendant and the railway company, but not certified nor held as collateral security; and that as soon as said defendant received from the St. Louis Iron Mountain & Southern Railway Company 240 first mortgage bonds of the Arkansas Company, held as collateral security, or as soon as the debt due the St. Louis Company had been paid, that he deliver to complainant one-third of these bonds. And it was further adjudged and decreed that the defendant John D. Beardsley had a lien on the one-third interest sold by him to complainant in the stock and bonds of the Arkansas Company for the payment of the sum of money herein adjudged to be due him from complainant; and that, if complainant should fail to pay that sum within the time fixed, that a sale of complainant's interest in said stock and bonds be made as directed, particulars relating thereto being set forth. It was also decreed that defendant John D. Beardsley pay all the costs of the proceedings, except the costs of such sale and the orders of court in pursuance thereof, which were to be paid by complainant.
From this decree an appeal to this court was allowed J. D. Beardsley, April 6, 1887, as of March 30, 1887, and the record was filed herein September 27, 1887. The decree was affirmed February 2, 1891. Beardsley v. Beardsley, 138 U. S. 262, 11 Sup. Ct. 318.
The present record discloses that on October 22, 1887, while the appeal first mentioned was pending, Paul F. Beardsley, without leave, filed a supplemental bill, making the St. Louis, Iron Mountain & Southern Railway Company a party with the original defendants, J. D. Beardsley and the Arkansas & Louisiana Railway Company. A motion to strike this bill from the files was made, and a demurrer and motion to dismiss filed, but the supplemental bill was retained, an amendment allowed to it making Jay Gould a party, the demurrer overruled, the bill taken as confessed by the Arkansas & Louisiana Railway Company, issues made up on the answers of J. D. Beardsley, the St. Louis Company, and Gould, evidence taken, and the case went to final decree before Caldwell, J., May 9, 1891.
I was thereby decreed that defendant J. D. Beardsley held in trust for the use and benefit of the Arkansas & Louisiana Railway Company certain described lands, and he was directed within 30 days to execute and deliver to the railway com- pany a proper deed of conveyance thereof. Certain exceptions to a master's report were sustained, and the court ordered that in all other respects the report be confirmed, and adjudged and decreed that the Arkansas & Louisiana Railway Company have and recover of J. D. Beardsley the sum of $21,072.16, with interest from August 5, 1889; and, further, that it appearing to the court that since the rendition of the decree on the original bill the Arkansas & Louisiana Railway Company had issued and delivered to defendant J. D. Beardsley certificates for all the full-paid and nonassessable stock of the company ordered to be issued by the decree, thus making, with the full-paid and nonassessable stock...
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