Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-08-15
WAIT A RECEIVER.
A Split Occurs 10 2 Big Hlysr Con-
cern,
Which Results in a Petitiod for a Restrain
ing 0rder-The Court Asked to Wind
Up and Dissolve the Corporation.

Up and Dissolve the Corporation.
Yesterday morning . suit in chancery
was begun in the Municipal Court, which
involves great sum. The suit is brought
at the instance of certain stockholders OF
the Wheeling, Parkersb urg and Cincinnati
Transportation Company, who ask an order
restraining the officers from doing further
business for the company and also asks the
appointment of a receiver to settle up the
affairs Of the company and dissolve the
CORPORATION. MeSsrs. r. g. Barr and Z. e..
Cracraft, counsel for the complaipants,
have filed their bill, Of which the following
is an abstract:
ABSTRACT OF THE BILL.
.Cbas. Muhleman and Henry Schmul-
bach, A. W. Yoeghtly and Godfrey Muhle-
man, members Of the Wheeling, PArkers-
burg and Cincinnati Transportation Com
psny, say that on the 9th day Of Noyem.
Der, 1868, the company was organized
under the laws of West Virginia, and that
soon after the stockholders met and organ
ICED and proceeded to purchase boats and
whatever was necessary to do the business
of the concern. The stock subscribed was
SIS, 100 divided into shares of 500 each.
Said company has ever since been engaged
in the work for which it was organized
and is now the owner of the boats Courier,
Regular, Diurnal and Little Boone. The
stock of the company is held as follows
Z. II. Booth 260 shares, J. g. Muhleman "a
shares, Chas. Muhleman ll5 shares, Z. K.
Booth 10 shares, N. Pollock share, Mary
Jelly 10 shares, Henry SchIaulbach y
shares, James N. Gamble 20 shares, A. w.
YOeghtly 10 shares, Frank B. Booth 10
shares. The bill further shows that the
office of the company is at Wheeling, West
Virginia, and that at the last regular meet
ing Of the Board, held in this city on the
18th day of May, 1888, Chas. II. Booth was
elected President, Treasurer and Superin-
tendent, and F. B. Booth Secretary. The
plaintiffs also claim that at the meeting
held in ISL T. i. Booth, Secretary made q
statement showing that the company was
in debt in the sum Of 1000, but for what
said debt was contracted or to whom the
same was due is not known definitely. By
the statement made May 18th, 1888, no
such Indebtedness appeared, but how the
debts have been paid or whether they have
been paid
IS NOT KNOWN.
For several years after the company was
created il was managed and controlled by
President, Secretary and Treasurer. Dur
ing this time four new boats were built,
and extensive repairs were made upon
others, the President experimenting affairs
without any salary or compensation, the
affairs n esnwhile being carefully and pru-
IDENTIFY managed, and large profits were
realized ard dividends were paid to the
stockholders, but the dates and amouats
are not now known.
During the year 1879 Chas. II. Booth
made large purchases of the stock OF said
company, until he held go shares and has
since held them until the present time.
On The 18th day of May, 1879, a speci'l
n estipg was called by said Booth
and these acting with him, at which
q Board of Directors was elected,
hut there not being a majority OF the stock
represented nothing more was done. Booth
aud those acting with him called another
meeting on October 9th, 1879, at which
Jackson Harrison, c. II. Booth, Henry
Schmultach, J. G. Muhleman and Chas.
Muhleman were the directors. Ga that
day, however, only {. II. Booth, Mortimer
Pollock, +. b. Booth and +. h. Booth were
present of the stockholders and they did
then and there hold a stockholders meet
ing and an election at which the present
directors were elected. At the same meet
ing the board did create the office OF super
intendent OF said corporation aud did elect
e. n. Booth superintendent, at a salary OF
$1,000 per annum, which was afterwards
increased TO 81 200. The plaintiffs in the
suit objected at the time to such creation
and have since objected, but
THEIR OBJECTIONS WERE DI~REGARDED
and have always been disregarded. c. II.
Booth has since held the office at said sal
airy despite the protests OF the stockholders
who hold that the office is unnecessary and
the salary a waste of the corporate funds.
The plaintiffs also claim that no dividends
have been paid since said Booth and the
present board took hold; that said Booth
and the other members have been elected
by the votes of X. Booth, Mary Jelly,
F. b. Booth, Mortimer Pollock and c. III.
Booth. Charles Nuhlemln also claims
that while he has been member VI the
BOARD Of Directors that he has never
received but three notices 10 attend
its meetings sine $50, and then
for such dates as made il impossible fJr
him to atteSi them, and that no attention
was paid 20 his complaints because Ot such
neglect The hi | also shows that {. ii.
Booth and +. D. Booth are doing business
as partners as commission merchants, wharf
boat owners and in other business al
Twelfth and Water streets; that said Booth
4 Son buy groceries aud provisions as com
mission and wholesale merchants AMI then
sci, To the transportation Company their
supplies at full retail prices Said c. II.
Booth being President and Superintendent
of said Transportation Company and +.
Booth its Secretary, while they at the same
time reaped the profits between the whole
sale and retail prices of such goods. The
plaintiff alleges that such action is unjus:
TO the other stockholders and said e. h.
Booth N so conducting that part Of the
business,
WAS GUILTY or MISCONDUCT,
ard that it Is improper that he should
,opger remain In charge of the affairs OF
the transportation Company. Charles
Munleman says he has repeatedly urged
the injustice of such action The plaintiffs
claim also that c. II. Booth 4 Son are
Cl srging and have been charging said
Transportation Company the sum of $40
PER month for each boat owned by said
cumpany as agents OF said boats, which in
truth and fact such agency is unnecessary,
and is reSOr,ed TO merely for the benefit OF
C.. II. Booth X Son and not for the benefit
of said Company; that in 1853 G.. II
Booth did employ one William Dillon
as master and pilot of the steamboat Reg.
mar at salary OF SI5 per month, said Dit.
Ion being competent master and pilot
and willing and still willing to WORK for
that sum OF money il said superintendent
would employ q mate. which was and Is
necessary for the conduct of the officers Of
the company. Instead of maintaining
said Dillon and engaging a mate or any
other competent person, said e. II Both
displaced Dillon and put in has place Asa
Booth, his own son, at a salary OF SIS per
month as captain of said boat and $50
month as pilot OF said boat, aud also EN-
p Dyed a mate, thus ovegburdening her
with officers.
Further, C. H. Booth is employing his
i L A. 81