Hellman v. Forty-Second Street & Grand Street Ferry Railroad

Majority

p. 223

Myer Hellman et al., Pl’ffs, v. Forty-Second Street & Grand Street Ferry Railroad Company, Def’t.

(Supreme Court, General Term, First Department,

Filed December 15, 1893.)

Headnote

Motion for a new trial on exceptions ordered to be heard in the first instance at general term.

Iloadly, Lauterbach & Johnson {Geo. Hoadly, of counsel), for pl’ffs; Freling H. Smith, for def’t.

This action was brought to recover damages for refusal of the defendant to transfer certain stock. The certificate which the plaintiff offered to surrender upon such transfer was similar to the one involved in the action of the Mutual Life Insurance Company against this same defendant, in which case it was held that the defendant was liable under the rulé which imposes a liability upon the principal for the unauthorized acts of his agent; that Allen, who issued the certificate, was at the time secretary, treasurer and transfer agent of the defendant, and invested with authority to sign, countersign and seal valid •certificates of stock, and, when he issued the certificate in question, was acting within the scope of his apparent authority; and that the issuance of the certificates in due form was a representation by him that all the conditions had been complied with, and the facts existed upon which his right to act depended. Mutual L. Ins. Co. v. Forty-second St., etc., R. Co., 26 N. Y. Supp., 545 ; 57 St. Rep., 215 . It follows, therefore, that the exceptions should be overruled, and judgment ordered upon the verdict for the plaintiff, with costs.

All concur.