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Difference between revisions of "DUBUQUE LEVEL AND LEAD MINING COMPANY et al, v SELAH CHAMBERLAIN et al"

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DUBUQUE LEVEL AND LEAD MINING COMPANY et al, v SELAH CHAMBERLAIN et al. On September 22, 1881 Judge Bagg of the District Court issued his opinion in a case which had been pending since 1876.
 
DUBUQUE LEVEL AND LEAD MINING COMPANY et al, v SELAH CHAMBERLAIN et al. On September 22, 1881 Judge Bagg of the District Court issued his opinion in a case which had been pending since 1876.
  
The decree found in favor of the plaintiff in the sum of $60,000 with interest from June, 1871 at 6% for a total of $96,000. The judge held that as the trustee and manager of the Dubuque Level and Lead Mining Company, Chamberlain had no right to buy out the company for his own benefit and that the sale was in fraud of the rights of the stockholders and creditors.
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The decree found in favor of the plaintiff in the sum of $60,000 with interest from June, 1871 at 6% for a total of $96,000. The judge held that as the trustee and manager of the Dubuque Level and Lead Mining Company, Chamberlain, having realized the value of the water his company had discovered, had no right to buy out the company for his own benefit and that the sale was in fraud of the rights of the stockholders and creditors.
  
 
The defendant gave notice of a motion for a new trial claiming that the basis of value was  "entirely erroneous."
 
The defendant gave notice of a motion for a new trial claiming that the basis of value was  "entirely erroneous."

Latest revision as of 12:14, 12 September 2018

DUBUQUE LEVEL AND LEAD MINING COMPANY et al, v SELAH CHAMBERLAIN et al. On September 22, 1881 Judge Bagg of the District Court issued his opinion in a case which had been pending since 1876.

The decree found in favor of the plaintiff in the sum of $60,000 with interest from June, 1871 at 6% for a total of $96,000. The judge held that as the trustee and manager of the Dubuque Level and Lead Mining Company, Chamberlain, having realized the value of the water his company had discovered, had no right to buy out the company for his own benefit and that the sale was in fraud of the rights of the stockholders and creditors.

The defendant gave notice of a motion for a new trial claiming that the basis of value was "entirely erroneous."

See: WATER DEPARTMENT

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Source:

"Decree at Last," The Daily Herald, September 23, 1881, p. 4