The following is the opinion of the court below:
The purpose of this action is to restrain the water, company and the city of Mount Vernon from consummating a contract for the sale by the water company, and the purchase by the
Proof of that character and weight is lacking in this case. On the contrary, it is conceded that there will be an abundant supply of water; the village of Pelham, including the section known as Pelham Heights, will be connected with the sixteen-inch main which now supplies the city of Mount Vernon by pipe that has already been secured for that purpose, and until that is done the present supply will be continued, and the water company asserts its purpose to continue its service to the plaintiffs and all others now served by it, and declares its ability to do so at reasonable rates, and fortifies its declaration by the undisputed facts that, "with Mount Vernon out of its area of service, the cost of its operations will be materially reduced; its capital will be very substantially increased by the proceeds of the proposed sale, and the sale of other property that will not be necessary by reason of the severance of Mount Vernon from its operating system. The sum of approximately $78,000 will be the total annual cost of its operations with Mount Vernon cut off, while its gross receipts from the test of its business will be about $98,000.
I think that the company has a right to sell its property, or any part thereof (Stock Corp. Law, § 16, as amd. by Laws of 1920, chap. 396) and that the city of Mount Vernon has a right to purchase the company’s property and engage
Judgment for the defendants, dismissing the complaint upon the merits, with costs.