Huntington

*57 By the Court,

The parties to this suit, plaintiffs and defendants, in conjunction with others, formed, a company in the city of Tfew York, in the early part of the year 1849, under the name of the Yew York Union Mining Company. Articles of association were adopted, which declare that the persons whose names are subscribed thereto, agree to associate themselves for the purpose of prosecuting the business of mining in California, from the 1st day of January, 1849, until the 1st day of October, 1853 ; and that the company shall consist of not less than twenty-nine operative or working shareholders, who are required to devote their entire time and energies to promote the common interest in such manner as the company shall direct. In addition to various other officers, there was a finance committee provided for, consisting of the treasurer and two other operative shareholders, whose duty it was to take charge of the fiscal affairs of the company. The defendants constituted this finance committee, and the complainants were operative shareholder’s.

The stock of the company consisted of 338 shares of $250 each, making an aggregate of $84,500. Each operati ve shareholder was entitled…