Citation Numbers: 130 Misc. 491
Judges: Frankenthaler
Filed Date: 9/15/1927
Status: Precedential
Modified Date: 1/12/2023
This is a proceeding of a similar nature to that in Matter of Gilchrist (In re Dahl), decided herewith. (See 130 Misc. 456.)
The questions which the witness Wiggin refused to answer are unauthorized and immaterial under the decision in Matter of Barnes (204 N. Y. 108). Wiggin stated the number of shares of stock of the Brooklyn-Manhattan Transit Company (hereinafter referred to as the B.-M. T.) and of the Interborough Rapid Transit Company (hereinafter referred to as the I. R. T.), respectively, which he owned. Thus, as to I. R. T. stock, he replied that he owned 3,600 shares. He declined to answer when he bought these. Under the decision in the Barnes case he was correct in declining to answer that question.
He was also asked what he paid for his stock in the I. R. T. and whether he bought his I. R. T. stock before or after the B.-M. T. bought its I. R. T. stock and whether he bought his stock at lower prices than the B.-M. T. bought its I. R. T. stock. The declinations to answer these questions were well founded. (Harriman v. Interstate Commerce Commission, 211 U. S. 407; People v. Foster, 236 N. Y. 610; Matter of Barnes, supra.)
The witness Wiggin further testified that he was a very large holder of B.-M. T. stock and that his holdings amounted to 38,500 shares of common and 20,003 shares of preferred. He refused, however, to state whether he got that stock at the time of the
These are the only questions which the witness Wiggin declined to answer. There were no refusals to answer on his part with reference to acquisitions by the B.-M. T. in the I. R. T. as in the case of his fellow-witness Dahl.
For the foregoing reasons the court denies the motion in all respects as to the witness Albert H. Wiggin.
Settle order on notice.