Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-03-06
the spFague Ma1ufseturlng Com
Many In COuYt.

franklyn and others TO stay proceedings at law
own right as well az for the use and benefit Of
the A g W. Sprague Manufacturing Co., of
Providence, Rhode Island, and of the stock
holders and creditors, and also for the Quidnic
Man ufscturins Co., and such other parties i'm
terested who may come in. He states that very
many years ago Amsss and william Sprague,
of certain landed property near the city OF
Providence, Rhode Island; that this property
had been inherited and come down to them
through two generation Of the Spragues; that
these brothers, Amass and William, in 1886 or
before, formed q copartnership, having ne sep
aTate estates or households, nor accounts, &c,
but giving their whole energies, time and accu-
mutations to the development of great indus
tries and the manufacture OF cotton goods; that
said partnership continued while William was
Governor of Rhode Island, Representative and
Senator, Amasa giving bis energies to the de-
velopment of the Industries OF the partnership,
while his brother, William Sprague, de-
tiff states that in the year 1873 Amsss
died without will, leaving a widow
and several children, and no other effSots than
course of law, THU death would have dissolved
the partnership, but the survivor (Willfam) and
the widow did not so treatit. William resigned
his seat In the United States Senate, and took
charge or the partnership effects, and employed
the services OF his son and the two sons of
Amasa Sprague, Amasa and William 1.-THE
Tlslntiff), and still carried on the business,
greatly adding to the mill property, purchasing
stocks in railroads, creating debts, and greatly
complicatiDg the affairs; but during all this
Tune thirteen years. everything was done In
the name OF A. * W. Sprague, as thOugh
Amasa had never died, therefore il may be said
that William acted as a trustee for his brothers
family. Plaintiff says that among other opera
tons OF VIM. Sprague, he withdrew funds from
A. and ". SIS business, and purchased Q uid-
mic Mills; that with like funds he built mills
and improved the property; that he sold to his
(Wtlliam's) brother in-law, Emanuel Rice one
undivided fourth OF this property upon credit;
that be held the other three-fourths for the ben
eht Of the old firm, and this property has ever
Sprsgue estates, having the same shareholders
as the A. and W. Sprague Manufacturing COM
pany. He further says that in September, 1856,
VIM. SPrague, feeling that he was approaching
the end of his life. took into partnership his SON
Byron, and his nephews Amasa and William,
and so announced it. William died October 10,
1856, without a will, leaving widow
and several children, among them the
defendants, who are the children of Susan
Sprague Hoyt. The business was continued by
Byron, Ainasa and William, under the old name
until 1862, when IL became necessary to pur-
chase the interest OF Byron to prevent dissension
as to the mode of conducting business and b.
virtually retired from the business without his
interest being fully ascertained. In April, 1865,
IL became necessary to determine the respective
interes s of the heirs of the founders and an
agreement was entered into for that purpose
and TO merge those interests into a corpOr alton.
The referees found that the interests of Susan
,. Hoyt was twO-twe ffths, and, the corporations
having been created, the properties were regu-
under
the laws OF Rhode Island the defendants, as
stockholders, are liable as partners for the
debts of the A. & W. manufacturing company
and the Quidnic company. He also states that
II was determined to make verv liberal allow
ance TO the children of Susan .Hoyt, and there
was placed TO the credit of their guardian, Mary
Sprague, s1ss ,333 81. that after the resignation
OF Mary he was in 1866 appointed their guar
dian, and then found inventOried on the &C.
counts of each dividend due from A. and W.
Sprague as cash 81 ,0I3.S3. He represents that
ha hoz mo- ell 81 An @
or dividend for them; that all the profits have
gone to the Improvement of the property
Millions OF value have been added by the con-
struetiOn of new mills, &c, of which the de-
PENDANTS are entitled to shares in the benefits
He says he has long since ceased to be the guar
dian of defendants, but has annually rendered
10 them accounts showing the special fund as
was shown IN the inventory less such amounts
as they drawn from the company and not
from him as their guardian; that they thus
recognized the A. and w. company their
debtor and not the plaintiff, and they are
shareholders to a large extent in said company
Thus in common with all the shareholders they
are entitled to the profits and liable for the debts
he further says that, owing to financial en-
barrassments, in October, 1873, the COMPANY
found itself greatly embarrassed, and it be.
came necessary to suspend payment and go
consent of the principal creditors, to execute a
trust deed of the property, and the whole ma
chlnery is being operated under the supervi-
sion OF the trustee, Il. Chaffee. He charges that
defendants, with a selfish and destructive pur-
pose to defeat the trust, and, If possible to
crush him and 10 make his individual property
liable, did, on the 9th of January. 1874, COM
mence suits by attachment in the United States
circuit court for Rhode Island, and caused to
be attached IN the hands of the trustee his in
terest in the companies, which they alleye to
be worth 500 0OO On the eth OF February thew
commenced suits here, stating their demands
be about $4,000 each. On the IAN
OF February they commenced suits in
the supreme court of the state of Rhode Is
land, and caused all his property interest and
Claims in the trust to be attached under the
pretense that he il the debtor and not the A.
* w. ;. manufacturing company, and thew are
harassing him with their suits. with the inten-
ton Of breaking up the trust anc DESTROYING
him, who has done all in his power to secure
their interests. He prays that defendants NAV
pc required 10 answer, and that they be en-
joined from further prosecuting their suits and
that service may be made on their attorney
General L. L. Crittenden, the attorney for
the defendants, has been served with a COPY of
the bill. and Judge Wylie fixed the 9th instant
as the return day.
The COUNTY SCHOOL TRUSTEES met yester-
day, and Mr.. Settle, from the committed on the
resol utlon offered by Mr.. Brown for increase
OF teachers salaries, reported adversely. The
resolution was discussed and the subject laid
over till the next meeting. On motion OF Mr.
Burr, Miss Alice Duffy was aDDointad nc a