The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-02-12
SUSTAINED BY DIRECTORS.
Tho spaul'fsngs Supported, by Four OF tho
Five Remaining Stockholders OF the Iron

Tho spnultiings Supported, by Four OF I'll
Five Remaining Stockholders OF the Iro
Company. Fst.a%At' afEa
Special Dispatch 10 Me Iritlliotnetr. 2
srEuDRNvILLE, O., Feb. lin tn,
matter Of the sensational suit Of Thoma
B. Taylor and other minority stockhold
ers Of tho spaulding Iron Company, it
officers, directors, ETC., tho answer o
four Of It's five remaining directors (tht
spauldings having already answered
was today filed here. It supports ant
nstihes the spauldings with detailed
particularly. --
They allege, rs directors, that It is un
true that they have been unduly con
trolled by the Spauldings, but that they
have at all times exercised their own
will, best judgment and discretion In
All matters pertaining 10 the business oi
the corporation. They say It is not true
that the defendants, David Spaulding
and Charles H. Spaulding, have been
guilty Of the various acts OF omission
and commission alleged against them;
that It Is not true that they have misap.
propriated funds, moneys. bonds or 9th
or assets or property Of said corporation !;
and they aver that the various griev.
ances and wrongs preferred against them
by plaintiffs, do not exist aud have not
existed. They say TINT the defendants,
David aud Charles h. Spaulding, have
not undertaken to exercise undue intlu-
ence or authority in the management OF
the business OF said corporation, rim
the control OF its affairs. @al
They believe and aliegc that no cause
whatever existed for the appointment Of
q receiver, or now exists for the contin.
uance thereof; that at the commence
ment OF this action, the moneys, assets
and other property Of said corporation
were In no danger Of being concealed,
misappropriated or misapplied, by the
said David Spaulding and Charles H.
Spaulding.
They say that It ia not true that David
and Charles Spaulding have failed to
pay for any Of tho stock OF the corpora
tion, by them subscribed for; neither is
It true that they have failed to account
for the bonds issued by the company, or
for the proceeds realized from sales
thereof by them made; neither is it true
that they have failed, or refused to give
to the stockholders Of said corporation
statements from time to time OF its tinau-
cial condition, etc. They say it 10 not
true TINT the cost Of the mill and nail
iactory, with the other improvements
Herewith aud belonging 10
said corporation, did not exceed the
sum OF one hundred and fifty thousand
dollars, but, on the contrary thereof,
they aver tho fact to be that the actual
cost thereof amounted to about two hun.
dred and fifty thousand dollars. -.
They insist that the action taken by
the plaintiffs in the appointment of re-
csiyer Was without Just ground or cause,
and was undertaken with view, as they
believe, Of compelling the other stock
holders OF said corporation to buy the
stock owned and held by the plaintiffs,
and not for the redress OF any grievances.
The answer is sworn to by the follow
ing Directors: Lewis Clohau, Horace NJ.
Wallace, David W. Matlack and William
5: Satterfeld. The Spauldings had
already answered. The remaining Di.
rector, John Nicholson, has apparently
not yet filed an 2nswer. J'a-.