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$7.00 Cumulative Proference Stock (150 shares outstanding) since
September, 1922.
Since 1924 or 1925 the Corporation hes been in constent
litigation as defendant in a series of personal injury suits brought
by former employees. Most of these suits have been disposed of through
settlements, in amounts varying from $1000. up to $10,000. each.
Five suits vere settled in 1928, which carried a provision
obligating the Gorporation to pay reasonable medical expenses, so
long as the plaintiff lives, plus a pension of $600. per year.
Two of the original five girls are still living and may continue
to do so for a number of years. Under normal conditions, this determined
and contingent expense should not be any great burden on the finances
of the Corporation.
The only actual trial of a case was in the matter of LaPorte
vs. U.S. Radium Corporation, which came before Judge Forman in the
U.S. District Court for the District of New Jersey. The issue was
raised through a Bill in Equity to enjoin the Corporation from pleading
the Statute of Idmitations as a bar to recovery at Law.
(Judge Fako,in the Law side of the same Bourt, had ruled in
early 1934 that the Statute is a bar to recovery at Law, but that in
case of fraud, actual or equitable, on the part of the Corporation, it
might be denied the use of the Statute as a defense.)
On December 17, 1935, Judge Forman dismissed the Bill in Equity
on the grounds that there was no fraud, actual or equitable, shown on
the part of the Gorporation.
This decision was rendered after able presentation by attorneys
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"ocrText": "2\n$7.00 Cumulative Proference Stock (150 shares outstanding) since\nSeptember, 1922.\nSince 1924 or 1925 the Corporation hes been in constent\nlitigation as defendant in a series of personal injury suits brought\nby former employees. Most of these suits have been disposed of through\nsettlements, in amounts varying from $1000. up to $10,000. each.\nFive suits vere settled in 1928, which carried a provision\nobligating the Gorporation to pay reasonable medical expenses, so\nlong as the plaintiff lives, plus a pension of $600. per year.\nTwo of the original five girls are still living and may continue\nto do so for a number of years. Under normal conditions, this determined\nand contingent expense should not be any great burden on the finances\nof the Corporation.\nThe only actual trial of a case was in the matter of LaPorte\nvs. U.S. Radium Corporation, which came before Judge Forman in the\nU.S. District Court for the District of New Jersey. The issue was\nraised through a Bill in Equity to enjoin the Corporation from pleading\nthe Statute of Idmitations as a bar to recovery at Law.\n(Judge Fako,in the Law side of the same Bourt, had ruled in\nearly 1934 that the Statute is a bar to recovery at Law, but that in\ncase of fraud, actual or equitable, on the part of the Corporation, it\nmight be denied the use of the Statute as a defense.)\nOn December 17, 1935, Judge Forman dismissed the Bill in Equity\non the grounds that there was no fraud, actual or equitable, shown on\nthe part of the Gorporation.\nThis decision was rendered after able presentation by attorneys"
}