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SPARHAWK v. YERKES

Nos. 56, 57.

142 U.S. 1 (1891)

SPARHAWK v. YERKES. SPARHAWK v. ACKLEY.

Supreme Court of United States.

Decided December 7, 1891.

Attorney(s) appearing for the Case

Mr. Wayne McVeagh for appellants.

Mr. Frank P. Prichard for appellees. Mr. John G. Johnson was on the brief for Yerkes, appellee, and Mr. J. Rodman Paul and Mr. George W. Biddle were on it for the Philadelphia Stock Exchange and the New York Stock Exchange, appellees.

MR. CHIEF JUSTICE FULLER, after stating the case, delivered the opinion of the court.

In Hyde v. Woods, 94 U.S. 523, it was ruled that the ownership of a seat in a stock and exchange board is property, not absolute and unqualified, but limited and restricted by the rules of the association; that such rules in imposing the condition upon the disposition of memberships that the proceeds...

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