Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-07
Mr.. MUNHALL MAD
At the officers of the CHARTERS
Valley Natural Gas Company.
HE LOOKS FOR, REDRESS In COURI
A Large Vote at Yesterdays Meeting for the
Issuing Of Bonds.
WHAT 4 sTOCKHoLDER SAYS ABOUT IT

The stockholders of the CHARTERS Natural
Gas Company held a meeting yesterday
afternoon for the purpose of discussing the
question of issuing bonds to the amount OF
$1,000, 900 in order to fund the existing in
debtedness of the corporation.
There were 20 stockholders present, Presi-
dent Chambers being in the chair. After
the proposition was made to the stockholders
to issue the bonds, motion was offered
to have the matter voted upon. This was
done, the result being that the proposition
for the issuing of the bonds was carried.
Every stockholder present who voted on the
question, voted for it, the rest OF them not
saying anything either way.
There was rumor current at the meeting
that the Court would probably step in and
prohibit the holding of the meeting, but no
such thing occurred, and all passed off very
satisfactorily.
A matter which threatened to upset har-
mony of action among the stockholders was
caused by bill in equity which had been
filed in court by Michael Munhsll, one Of
the stockholders, against the officers Of the
company.
In this bill Mr.. Munhall states that he
holds S75 shares of stock in the company,
for which he paid $4,000 at the time, but
which, he claims, is
ONLY WORTH $5S,0O0 TO-DAY.
He asked the Court that permission be
given him to have access to the books of the
company, and to have them examined in Or
der to obtain data necessary to complete the
facts which they have, tending to show that
certain property of the company has been
sold to persons without any adequate return
therefor.
He also declared that 500, 900 of extra
stock, which the company created last year,
was created illegally, and he requested it to
be declared void.
In conclusion, Mr.. Munhall asked that
the Court impose an injunction upon the
company to prevent them from holding the
meeting set for yesterday afternoon, because,
he said, it was called to increase the indebt-
edness of the corporation.
Judge Ewing, in handing down his opin-
ion, refused to grant the injunction upon
the meeting, because, he said, that the meet
of the company's indebtedness, but to fund
the existing debt of the corporation.
When one Of the stockholders of the COM
pany was asked for the cause of Mr. Mar
shall's apparent wrath against the Char
tiers company he said:
The facts are very plain. Mr.. Munhall bought
some stock from one Of the stockholders of the
company. and, of course, this gentlemen, who
wanted to get as good price as he could,
painted CHARTERS stock in its most glowing
colors.
PAID FOR HIS CONFIDENCE.
The consequence was that Mr.. Munhan paid
very high price. because he believed the
man. Now, then, if he feels himself injured
by having purchased stock at high figure, he
has remedy against the party or parties from
whom he bought the stock. But am able to
aver that he bought none of the stock from
the company direct. 1t is, therefore, plain, that
he cannot hold the officers responsible for his
supposed loss,
However, he has taken the bull by the horns
and gone to law, and he will see what he will
get out of 1t.
Judge Ewings opinion was very just one,
because iE is quite true. as he stated that the
company does not desire to increase its in
debtedness but to findit.
As for his charge against the officers and
Board of Directors of the company, the names
of everyone are too well known to suspect any
of them of having sold any property of the
company without getting adequate considers
ton for it.