Show TICKLISH BUSINESS IS THIS SORT OF DIVIDEND A decision of the most reaching far cone consequences was wa handed down b by the court of or appeals of timis state this week which deeply concerns investors In who hase ha e bu bought ht stocks from companies that tat w were cre apparently pa paying bona fide ide dividends only to learn at a later date that time the dividends ends were paid from the time company's s capital and not from Crom the time earnings In time the case cage oi or 0 Ottinger er a against Bennett Dennet Ben Den net nett the court has ruled that directors of a company compan who declare and pa pay a a dividend out of capital are personally Sable liable for Cr all al los losses cs Incurred b by those who vho buy stock In Jn consequence o of the time cd Nl dividend l In other words inVestors In- In who arc are deceived by a declared dividend Into ln bele believing that a company compan Is s earning ln money ma may sue the the company company's com corn pany's pany directors for any army loss incurred I as af t the e result of that thai deception A year ear a ago ngo o Marx Mars Ottinger er through his sis uncle Nathan Ottinger er now no noa a fu fusion fusion fu- fu sion candidate for tor the supreme court as counsel brou brought ht suit a against alm t John iL M. Bennett Bennet Charles W W. Morse orse Wesley resle H. H Olen Ibid Ruel V. W. Poor et al at directors I in ill 11 the time American Ice company for losses he le alleges occurred after he hud had bought stock In th time the American Ice Tee company Ho lie was led to bu buy the stock he lie maintains main main- b because c Hie of a dividend that had just be ben been n declared L Later Thaler ter ho he learned ho alleges that the time dividend was paid not riot out of the compan company's s earnings s. s but butout butout butout out of the company's s capital Th Therefore Therefore There There- rc- rc fore rore he says the condition of time the company company com coni- pany was not what the thc dividend led him ilm to believe e It to be he His point has been sustained Ness Ness' New or Mining Age |