The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-08-17

contract, that under and in pursuance Of said
contract, the Pan-electric Telephone Company
issued certificates showing that the different
parties In interest were entitled to o certain num-
Der OF shares OF the capital stock of the Pan
electric Company. of the par value of 500 each,
as soon as the validity of the patents is iudicially
determined in any litigation instituted for that
purpose. But this certificate is not transferable,
except with the consent of the president and
secretary of the company indorsed hereon.n
He further says that the complainant instead
of devotng himself to the perfection of the in
vention, as by his contract he was bound to do,
sold interests in his Stock admitted in his bill
of complaint and in sundry other instances be-
sides those therein admitted, in patent violation
OF said contract and against the interests of the
company; that, finding he could not persuade the
defendants to accede to his wishes, he procured
many false and malicious statements TO be pub.
ished in the public press of the country, both as
to the defendants and as to the business Of this
company. He also AYERS that the utter disre<
gard OF the complainant for his obligations, al
manifested by his violation of his contract az
well as his general conduct herein set out, rem
ders him wholly unreliable person with whom
to have any business relations whatever aud this
defendant having become fully satisfied, by the
gross misconduct of the complainant, that the
business of the company could not be properly
and desirably managed, had decided in February
last to give away his stock in said Pam electric
Telephone Company, and be freed of all and
every association with said complainant, and had
prepared TO consummate this purpose when an
investigation of this company was instituted by
the House of Representatives of the Congress Of
the United States, and he deemed il proper to
continue in statu quo until that was concluded,
and such investigation having been concluded,
this defendant now unites in the desire OF the
complainant to close out and wind up the busi-
ness OF said company, and whether the court
after consideration of the contract shall regard
and treat this association as partnerships or q
corporation, there should, under said contract,
De full accounting between each member and
the company. including the proceeds OF
any and all stock interest sold
in violation of said contract, and ample provision
made for the payment of any liabilities of said
company, and. if necessary. to secure q disso.u-
ton and winding mp OF such organization, he
cross-biil, asking for such relief And
this defendant. waving and renouncing
the benefits and advantages to which
he may be entitled, of such accounting,
and all right and benefit of such company,
brings into court here the certificate for his in
terest in said company. and while he Is ready
and willing to stand by and form such decree as
the court shall deem meet and equitable in the
premises, he asks that after the settlement of
all liabilities of said company by the application
thereto of the scrip issued by said company,
II necessary, and the portion that may
remain of the scrip of this defendant
so brought into court, or any interest
of this defendant therein may be cancelled OF
returned and surrendered to the Pan-electric
Telephone Company or otherwise disposed of, MS
the court shall direct, to the end that this de-
fendant may be absolutely rid of the complain
ants said stock, and all interest therein, or in
said company; and for the purpose of procuring,
By the Judgment of the court, in this proceeding
a final and complete adjustment and settlement
of all matters between the defendant and the
and said company and the terinin-
alton of all relations between this defendant and
either the complainant or said company. this
defendant is willing and hereby offers to account
for all pecuniary benefits and money he has re.
ceived from said company or by reason of his In
terest therein, and to bring said moneys into
court when thereunto required
And this defendant, further answering, says
that as to all other matters set forth in the GEM
plainants said bill of complaint. this defendant
has no knowledge whatever and has no informa,
tion to the bill of complaint and leaves the
to prove the case as he may be ad
vised