Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-11-04
THE X. N. LINE.

Decree TN the Steamboat Cases. @. CIssb6
Appointed Receiver-Rens0vaE of the d.
recsors and Judgment AgGtnst Them.
st. Louis Globe-Democrat
The decree in the case of Ward ct al. vs.
the Keokuk Northern Line Packet company
was entered yesterday on the records of the
circuit court. Mr.. s. O. Club was appoint
ed receiver. and gave bond for 5000. 600
with Gerard B. Allen, George Knapp, Dwight
Durkee and Charles Virgins as sureties. Mr.,
Clubb's appointment was satisfactory TO
both parties. The Following is copy in
full of the
DECREE OF THE COURT.
James Ward ct al. vs.. VIM. F. Davidson
| ct al. And now come the parties by their at
torneys; and the court having heard and con-
sidered, etc, it is ordered and decreed that
the defendants, the Keokuk Northern Line
Packet company, its officers and agents, be
restrained from purchasing merchandise
commonly called boat stores, for
the purpose of selling the same
| to steamboats, or towboats not owned or
managed by the Keokuk N. L. Packet Co.. :,
or to the owners or managers of such boats.
That said Keokuk N. L. P. Co., its. agents
and officers, be restrained from selling boat
stores to steamboats, or towboats not owned
or managed by said Keokuk N. L. P. Co., or
to the owners or managers thereof, or to any
person or persons. That said Keokuk N. L.
p. Co, its agents and officers, be restrained
from engaging or investing its money of
credit In the purchase or sale Of grain for
the purpose of speculation or for making q
profit thereon.
That said Keoknk N. l.. P. Go. be rec
strained from advancing or lending its mon
ey or credit to John Shethar OF other specu-
lators or persons for the purpose of en-
abling them to purchase grain and make a
profit thereon.
That said z. N. L. P. Co., its agents and
officers, be restrained from entering into
| contracts or joint ventures with said John
Shethar, or any other person or persons, for
the purchase of grain with money or credit
of said corporation, or into any other con-
tract with said Shethar or any other person
to transport grain purchased by said Shethar
| or any other person, upon condition that the
corporation of said z. N. L. P. Co., for
transporting such grain, as public carrier,
should depend upon the profit and loss made
by such purchases on the grain thus bought
by him or them.
That aaid K. N. L. p. Go. be restrained
| from lending or advancing to said w. F.
Davidson, or to any of its officers, any
| money over and above the sums due to said
Davidson or other officers from said Z. N.
l.. p. Co.
That said Z. N. L. P. Co. be restrained
| from permitting said William F. Davidson,
| or any other officer of defendant, from
drawing out of the funds of said defendan
more money than is due to them from said
z. N. L. P. Co., or more money than stands
20 bn IS oo,l ne~.
GERS of said K. N. l.. P. Co. on the books of
| said K. N. T.. P. Co.
And it appearing to the court from the
evidence that the defendants, William F.
Davidson, Peter Conrad, John Shethar,
William Rhodes, A. M. Hutchinson, Thomas
| L. Davidson aud Peyton s. Davidson, have
abused their trusts and have been guilty of
gross misconduct as directors and officers of
| said defendant corporations; and it further
appearing to the court that since the COM
mencement of this suit the said William
Rhodes, Thomas L. Davidson and Peyton s..
Davidson have ceased to be directors and
officers of said defendant corpora
ton, and that said William F. Davidson,
Peter Conrad, John Shethar and Abraham
Hutchinson are now directors of said cor
| poratioD, it is ordered that said William F.
Davidson, Peter Conrad, John Shethar and
Abraham M. Hutchinson be and the same
are hereby removed from their offices of di-
rectors and officers of said corporation.
And it is further ordered by the Court
that the stockholders of said defendant cor
poration shall on the 18th day of November,
1880, hold an election at the Office of said
corporation. to supply the vacancies created
by the removals hereby ordered, and to elect
four directors of said corporation. At
such election the persons hereby removed
shsll not be eligible. The secretary of said
corporation shall forthwith publish for ten
days notice of the time and place of such
election in two daily newspapers
in the city Of st. Louis. At such election
E. 0. Standard. David Ranken, Jr, and John
A. Scudder shall act as judges of election, to
whom the secretary of said corporation shall
furnish complete list of its stockholders,
and of the number of shares held by each
said judges of election shall open the polls
at o'clock in the forenoon of said day and
keep the same open until / o'clock in the
afternoon of said day, when they shall count
the votes cast and shall report the result tc
this court for its further action in the prem
ises. In case of the failure of the secretary
of said corporation to publish notice forth.
with in conformity with this order, the clerk
of this court shall publish such notice.
And 1t is further ordered that the defend
ants, w. F. Davidson and Peyton S. David
son. shall pay to the defendant corporation
the sum of $20,081, and that in case of Their
failure to pay said sum within - days af.
ter the entry of this decree, writ of execu
ton shall issue in favor of the said corpora
ton and against the defendants last above
named for said sum.
And it is further ordered that the following
named defendants pay the following
sums: John Shethsr, 5000; P. s. David
son, 1852; w. F. Davidson, A. M. Hutch.
inson, Peter Conrad, Jno. Shethar, P. s.
Davidson and T. L. Davidson, $1,2S2; W.
F. Davidson, 3,435; w. F. Davidson, P. s
Davidson and VIM. Rhodes, 81 1852. SO. And
it is further ordered that said plaintiffs re-
cover of defendants their costs in this cause
expended.
And it is further ordered that Samuel G.
Club is appointed receiver of said defen-
dant corporation, with full power and au.
thority to take possession of all the busl
ness, property and effects of said corpora
ton, wherever the same may be found, te
collect and sue for all daes and dividends
of said corporation against others, and tc
manage the affairs of said corporation unde,
the orders of this court, and to report to
| thja cOurt hio vrooaodi1oc hawai-, &c.,