New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-01-29

the sale, bid so, 600, and it was adjudicated
to him, as president of the Herald Company
Joseph Hernandez acted az bondsmsn, by
and for II: G.. Warmoth. Immediately
thereafter he took possession for the
company, and proceeded to conduct the
same with success. While in possession,
the board of directors were again APP
preached by Warmoth, with the proposal
to release himself and his bondsman, Her
nandez, and for other considerations and
reasons. that a sale or transfer should be
made by the Herald Company to A. M.
Holbrook, on condition that he assumed
payment Of the twelve months bond, and
deposited with Hernandez satisfactory eecu-
rites, which could be applied to such pay
ment, and that HOlbroOk would enter into an
association to be styled the New Orleans
Picsyune Printing Company, and the es-
tabIishment then owned and held by the
Herald Company should be delivered to the
Picaynne Company; it was stipulated that
in said company HOlbrook should have
seventy.fve shares, and fifty-fve should be
assigned among the stockholders of the
Herald Company-the whole number being
100 shares of the par value of $3.50 each.
These propositions we're agreed to and took
effect December 10, 1873, by act then exc
cuted and delivered; at the same time the
charter Of the Picayune Company was duly
executed and signed by the respective par
ties; the charted contained this obligation,
that tho establishment purchased by the
Herald Company, transferred by said COM
pany to A. NJ. Holbrook, is now sold and
delivered to this corporation by Hplbrook
for $50, 900 cash, which he Acknowledges
to have received, and the estab.
lishment became the property of the
corporation. with shares fixed at 100
Of $3.50 each, aggregating $4,000
full paid, and distributed, in proportions
agreed upon; petitioner, as the owner of
twenty-five shares, brings suit in behalf of
their shares as joint owners of all the prop
erty and assets Of the Picayune Company,
in proportion to shares held; full value was
given for them, and the only consideration
given by HOlbroOk for seventy-fve shares
was the assumption Of the payment of the
twelve months bonds; A. M. HOlbrook was
chosen president of the directors of the
Picaynne Company, it prospered and in
creased in value; HolbrOOk exercised sole
control of the finances and business of the
Picay.ne, and although only trustee, he
claimed and exercised proprietary rights,
excluding directors and stockholders from
any participation therein, rendering no
account of his administration, appropriating
to his private use the property of the COM
pany, and plotted and schemed to defrauG
the stockholders of their rights, and did other
acts in violation of his trust, of equity and
in fraud; these acts eliminated in q con-
spiracy and convention with II. Q. War
moth to obtain possession Of the PicGyM1e
establishment and defraud the other joint
owners; for this purpose Holbrook convened
the board of directors December IA, 1874,
and introduced a resolution setting forth
that whereas the bond given to the sheriff
for $50, 2l1 80 was about to become due, and
he was unable to pay the same. and the COM
pany was unable, it was not just that the
company should retain the property for
which the bond was given; that on the pay
ment of the same by Joseph Hernandez,
tie surety, the president be authorized to
transfer the property to him in satisfaction
of his claim; petitioner, az director, protested
against the resolution as illegal and fraud
upon the company's stockholders; that
the bond was not due by the company, but
by Holbrook alone. and the attempt to con.
vey property to Hernandez was fraud;
this protest was entered on the minutes;
the resolution was adopted by the vote Of
Holbrook and two directors with him, and
next day HolbrOOk, as agent of Hernandez,
announced himself in possession Of the Pic
ay,tne establishment: the twelve months
bond was not then due and payable, NO
demand was then or has since been made,
or any default on the part OF the Herald
Company.
Petitioner asserts that after these trans
actions an illegal and pretended meeting of
was held on December Is,
where, by vote of persons not entitled
therein, the Picayune Company was de-
clared dissolved, commissioners were ap-
pointed to liquidate it's affairs; this meeting
was cOnvOked, and its acts done by HOl-
brook and WarmOth, the commissioners to
liguidate were employees OF Holbrook; after
this dissolution Wsrmoth and Holbrook
cOlluded and convened to transfer the prop
erty Of the company, and Of the Pcayune,
from Warmoth to Holbrook Hernandez in
terposed without interest for Warmoth) }, for
bic from the earnings Of the establishment,
until the full amount Of $20,220 should
be paid, with the right of Warmoth to
repossess the property on the failure
to pay for any month; all these acts were
illegal, null and void as affecting the peti.
TONER and stockholders; wherefore it is
prayed that A. NJ. Holbrook and II. c.
WarmOth be cited to answer this demand,
and after due proceedings it shall be de-
ty-fve shares of stock, with property and
assets; that the possession thereof by War
moth and HolbrOok is illegal, the dissolu-
ton Of the Pcayune Company void; that
receiver be appointed to take possession of
the property and liquidate the affairs of the
also for all writs and processes
which may be necessary; and for judgment
against them in sOlidO for damages to the
amount of $4,000 and costs and general
relief.
First District Court.
INFORMATIONS FILED.
Entering a dwelling house, etc.-Sophie
Edwards ct al.
Assault and battery-Michael Carroll.
NOLLE PROsEQUI.
Larceny-Hy. GLADDEN..
PLEADED NOT GUILTY.
Assault and battery, larceny, etc.-Louis
Martin, Manuel johnson, Walter Manuel.
Manuel remanded, the others discharged On
bond until further notice.
FAILED TO APPEAR.
Assault and battery-BOb LauZy. Capias |
ssued.
Assault and battery, etc.-Jacob Gleason
It FL, David Stewart, William Leidinger,
Indefinitely discharged on bond; Robert |
Zones, to February ].
Larceny-Maggie Williams, Flora Hill,
'red Williams, indefinitely discharged on |
,Ond.
Assault with dangerous weapon-Tonv |
Mann, to February 3.
SENTENCED. |
Larceny-Charles Morgan, three months |
Parish Prison and costs; Charles Moore, |
Eighteen months Penitentlary at hard labor,
nd costs.
Assault and battery-Dan Jordan, one
lonth Parish Prison and costs.
Second District Court.
The su ccesslOns OF Pierre Bergeron and |