St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-02-24
Judge Kelly Scores a Victory
for the St. Croix Lumber
Company.
Representative Williams and
Lawyer Bramhall Put on
the Gloves.
Probability That a Magnifi-
cent Hotel Structure Will
Be Speedily Built.
Leg Bail Solves the Tempo
rary Embarrassment of a
Young Man.

A decision was handed down by
Judge Kelly yesterday which decides
long-pending and tediously tried suit
involving the estate of G. A. Torinns,
late president of the st. CroiX Lumber
company. The suit was brought by the
st. Croix Lumber company against
Louis G. Middlestadt as executor of the
last will and testament of G. A. Torinns
deceased, Alex Galtz and Louis c. Mid
dlestadt. There are two suits under the
same head, and in the first, which
was tried last May, the plaintiff
claims that the decedent. during
his administration as president of the
corporation purchased, with the funds
of the concern and for their use and ac-
count, lots and 8, block4, LOngevin's
Second addition, and lots to 16, block
4, and lots to IL, block 3,of the same
addition. together with property in
Brown & Jackson'S addition to West
was taken in his name and that of
William Chalmers, director and stock
holder of the PLAINTIFFS corporation.
The defendant, Torinns, as president
and agent for the plaintiff, made i'm
provements and erected building and
machinery upon the said property with
the funds of the plaintiff, and for their
account to the value of $4,000.
Chalmers, in whom half of the title
to the property rested, decided his
interest to the plaintiff, the corporation.
The decedent, however. stipulated it in
his will as partof his estate and devised
the same to the administration of his
executor, the said co-defendant, Mid
dlestadt The plaintiff alleges that he
often demanded the deed from the de-
ceased prior to his death and that he
rendered instruments ready for sigma
ture to the defendant, the executor,
since the death of deceased which
would convey the proper title to the
property in question. The court con-
cludes that the property, consisting of
buildings and machinery, is only worth
S1,693.93, and orders that upon basis
of that amount the accounts between
the deceased and the plaintiff shall be
adjusted. 1t further orders, after an
elaborate review ofthe facts. that the de-
PENDANT shall deed the land to the
plaintiff, as prayed for in the complaint.
The second suit, also tried during the
May term Of the. court last year. is for
the recovery of 100 shares of the cor
poration stock, which the SON of the
said Torinns, G. A. Torinns, who died
March IA, 1887, had acquired, it is al
legged, by secret
FRAUDULENT. AND WRONGFUL MEANS.
The said stock, which. was worth par
when the senior Torinus first assumed
and bought S54, 900, or One-third of the
stock of the corporation as Issued Dec.
10, 1872, is now, it is claimed. worth
$4,000. The first meeting of the
company seems to have occurred
Dec. 10, 1872. At this meeting $4,000
was issued as the capital stock, Tori
nus taking S54, 900, William Graves $685.
900, and William Chalmers $4,000, MAX
ing a close corporation. Afterwards
and prior to the elder Torinus' death,
which occurred June 2, 1883. the COM
panY issued $4,000 more stock. At
'Toronis' death the stock was owned as
Jr. 5000, Chalmers $4,000, Andrew
Scow 5000, and $4,000 treasury stock,
known as the Ruhlberg stock.
On July 20, 1884, Torinus Jr. was made
president, and while he was in the eX-
ecutive chair secured $1,000, 100 shares,
of the Ruhlberg stock, and, as he claims,
upon the consent and direction of the
directors, having the consideration of
$1,000, which price he claims to have
paid, charged to his account, which
plaintiff says was overdrawn at and be-
fore that time. September, 1887, an s
per cent dividend was declared upon
the whole stock and it was then that
the action was prompted. since the half
of the treasury stock. which Torinus
held, it is claimed by the plaintiff, was
corporation stock and not sold to the
defendant. Aside from the above. the
plaintiff asked for Judgment for 1904,
which it claims was loaned to person
VINO executed a mortgage to the de-
ceased, and who claims to have paid the
money to him. The court adjudges the
deceased defendants estate to be the
owner of the 100 shares of stock, but
orders Judgment against it for 1914.
The Importance of these suits is eyi-
dent, in that tho; stockholders of the
plaintiffs company recover property
valued at 100000 or more, which ma
terially affects all stock Of the concern.