Dwight v. Carmen Guanajuato Gold Mining Co. — 128 N.Y.S. 1121

Majority

p. 1121

DWIGHT v. CARMEN GUANAJUATO GOLD MINING CO.

(Supreme Court, Appellate Division, First Department.

March 24, 1911.)

Headnote

Appeal from Trial Term, New York County. Action by Theodore Dwight against the Carmen Guanajuato Gold Mining Company. From a judgment for plaintiff, and an order denying a new trial, defendant appeals. Modified and affirmed, upon condition that plaintiff stipulate to reduce the judgment,

See, also, 125 N. Y. Supp. 1118 .

Donald McLean, for appellant.

Samuel M. Richardson, for respondent.

The plaintiff was entitled to 7 per cent, interest only on the par value of the bonds. Having elected to exercise the option to receive payment at the price of 110, he was only entitled to 6 per cent, on the value of his bonds at that price from the time of the defendant’s refusal to comply with his demand, January 1, 1910. The judgment and order are reversed, and a new trial granted, with costs to appellant to abide the event, unless the plaintiff stipulate to reduce the judgment as entered, including costs, to the sum of $23,146.70, in which event, the judgment, as so modified, and the order appealed from, are affirmed, without costs.