Daily Los Angeles herald., 1879-01-16
Hold the Fort.

| oiHS0 VI - IL ohhibSy ANos 1c
Spring street, yesterday afternoon
about three o'clock. The HERALD
reporter, of course, was there TAX
ing items, and the chapter of events
as herein recorded will furnish a
good appetizer to many of our read
ers who, from various causes, take
an interest in the fight now going
on for control of a once wealthy
real estate corporation.
The Los Angeles Immigration
and Land Cooperative Association
was incorporated In December, 1875,
and successfully handled the Ar.
tesla property aud bought the Pc.
mona tract in the following June.
The Artesia sales were large and at
an advance on first cost of over one
hundred per cent. About the time
that Pomona was put on the mar
ket the Bank of California suspend.
ed, Temple & Workman failed and
| genuine hard times came upon us
Property deprecated, and as the
Company was carrying heavy in
dsbtedness it was with difficulty
that the managers could stem the
ebb of the financial tide.
In December, 1876, discussions
entered the Company and a split
followed, in which three of the
heavy stockholders purchased the
Artesia interests, the old COM
pany Keeping Pomona and other
lands.
Que split followed another from
time to time until July last, when
1t became impossible for the COM
pany TO secure legal meeting of
to Board of Directors, as majority
Of the Board was opposed to the
way the affairs of the company
We're being managed and had too
little Interest at stake TO change
the management.
About this time p. e. Tonner be-
came the owner of a controlling in.
terest in the company's stock but
could not get his rights recognized
by the managers of the company
acting under legal advice.
A few days since still further dis.
sensions arose in the company and
MIR. Tonner's rights were recognized
by company officials. A meeting
OF the Board of Directors was called
for yesterday afternoon, and the
meeting was made the occasion of q
lively scrimmage on the part of the
old management to prevent the cou-
troll OF the company from slipping
through their fiugers.
At three O'clock, four members of
the Board-F. b Tanning, ]. g. |
McComas, II. j. Crow and l. NJ.
Holt-assembIed at Fanning's of
flee to attend the meeting. A DO
llceman was stationed at the door
TO allow no one to enter except il
be member OF tie Board, three of
which had not as yet arrived. I'm
mediately after three, Thos. III.
Smith, Mr.. Garey's attorney, fol-
lowed by nearly q dozen others, an.
psared at the door and ATTEMPTED to
enter. The policeman informed
him that he could not be allowed to
come in, but by using some force he
managed to pass the officer, After
some parley he asked to haye the
door opened to allew him to retire.
me door once open the force on the
outside burst 1t off its hinges, over.
powered the officer and the few
men who were sustaining him and
took possession of the room, The
Carey crowd would not allow a
meeting to be held, and the four
Directors adjourned to Mr.. Hollis
off1ce III the Odd Fellows block,
where the Board organized bv the
election of l.. M. Holt President
pro tenn.
During the session of the Board
at Mr.. Holt's office (Which Mr..
Carey did not attend) the following
resolutions were adopted, which
clearly show the condition of the
fight at the present writing:
WHEREAS, On the 10Th day of
July, 1873, hree members of the
Board of Directors of this co m.
pany met and illegally attem ptei
to make vacancy la said Board
and attempted to fill the vacancy
by electing, or attempting to elect,
ID. A. Shaw as u member at a time
when there was no quorum pres.
ent; and,
WHEREAS, on the 3lst day of
July, 1878, at a so-called meeting
OF the Board, at which there were
only three legal members present,
mn attempt was made to levy an
assessment on the capital stock uf
said company, which assessment
was Illegal and void, because no
quorum of the Board was presen,
at The meeting to act; and,
WHEREAS, On the 10Th day of
August, 1873, p. G. fonner became
the legal owner OF 1857 shares of
the capital stock Of this COMPANY,
but that the Secretary of said com.
pany refused, acting under direc
tion of counsel, TO transfer said
stock to SAID P. q. fonner; and,
WHEREAS, Gu the 18th day of
August, 1878, Hon. Y. Sepulveda,
Judge of the 18th judicial District,
issued writ of mandate ordering
said Secretary of this company to
transfer said stock to p. @. Tonner
or show cause why he should not
do so, which writ was not obeyed
by said Secretary acting under di-
rectlon of counsel; and,
WHEREAS. On the l4th day of
August, 1873, there was an at.
tempted meeting of the stock hold
ers of this company, held for the
purpose of electing new Board of
Directors, at which meeting said
p. q. Tonner was not allowed to
cast the votes held by him, and
therefore there was no quorum
present and therefore no legal elec-