Telegram-herald., 1890-10-04
A GREAT SCHEME
The Attempted consolidstion OF
TIVE Big Gss Companies.
And A PRELIsISAEF INJUNCTION
Sr4ntsa ~ SsaEs 0ress-ssAs fssias
Hisserg ef the pssl-ss.as sseas
1A.s Ceala N.t he Eaeiissrsa-
Nhst n tt 1hs tfarsess ~

Chas. d. Hauk, Of Chicago, com
menceo sat ia the eircua court sesfer-
day against J Frederick Rasrs as trus-
see. The ball az complaint sta tek that
on April - lss0, Thes. u 6ilhert. pres
iaeilt. ana HI. ID. Nsitgoge. secretary
of the Grsnd Rapids Gas Company, IN
behalf 81 a majority of the si0eknoid-
ers therein. gave tie complainant, Chas.
=. nauk. al opuon covering = major
~ Of TIE Grand Rapids Gas Company
stock at slo9 = share. the par value he
ing 500, the option 10 pe good untii oc-
IOber 4. la the agreement b ls stipu-
lated that the capital stock can be in-
creased 10 g 900 .o0o and that when tie
purchase money paid. the purchasers
shall possess al the assets aud property
Of the o0mpsny- IL was mutually
agreed that j. Pred denok Bsars, cashier
OF the National CITY Bank. should act
IS trustee Ia holding $4,000 deposited
by the gas company as party of tie
first part, and $1,000 more ~ chas. u.
Hauk, party OF the second part, the
money to he forfeited 10 tie ether
should either party fail 10 meet Tie oh
legations. the trustee 20 receive n com
mission Of per cent for has services
on the money handled.
By the terms OF the sgreement. Mf.
Iiauk Was 10 pay for the stock by Octo.
Der i, 1890, bat has failed 10 do 80. and
asks that Mr.. Bsars be restrained from
turning the forfeit over 10 Ar. Gilbert.
The reasons for the request is alleged
TO be that the complainant believes that
Mr.. Gilbert was not authorized by a
majority OF the stockholders 10 make
the uansfer. that since the agreement
was made Isabella Fuller, the Ownes of
l3s shares. and Wm. HI. Gilbert. he
owner Of l60 shares. have died, and no
one can now legally transfer their stock;
that since making the agreement he
Gas Company hss contracted FOR large
additions 70 its plant, has bought large
quantities Of coal. and incurred other
liabilities; and that before he ls com
PEELED TO fulfil his contract and before
the forfeit money Is paid, he Is entitled
TO sn accounting regarding the div
dends which have been PAID, snd 20 the
necessity and sdvlssbiiity Of the llsbil.
tiles which have been incurred asstateo.
He also alleges that the company has
broken Of negotiations FOR sn extension
= al = A.. a.
obstacles in bis way.
The complsinaut's attorneys are Wes-
selius 4 Maynard, and Fred :. Clark 10
dorses the bill as surety for costs.
On reading the ball, Judge Grove
granted a preliminary Injunction as
PRAYED. The papers have been served
upon Mr.. Baars. and be has retained j.
c. Fitzgerald 10 protect his interests.
il would seem as II there was little
moro history connected with the mat
ter than appears on the surface.
Charles p. H1ok, together with Col. j.
Frank Aidrich and others. OF Chicago,
and Fred :. Clark and others. Of Grand
KApids are membtre OF the Fuel Sas
Company. now about 10 begin opera
tions M TINS city. The company CLAIMS
that some time last spring they o..
tanned an option from tbe Grand Rap
IDS Gas Light Company. as stated. The
intention then was that tBc Fuel Gas
people should buy out The Grand Rap
lds Gas Light Company, and - soon ss
their works were completed, run them
both under one management ft =
now claimed by The Futl Gas Company
that Il would ne impossible 10 close its
deal, as tie Grand kapids Css llgbt
Company could not deliver the goods,
a. slnce the time tie option was gwen,
the shares Of Isabella Fuller md Wm.
II. Gilbert, both decreased. bave gone
INTO estates, and Consequently could
not be transferred.
A Amliar snit hss been brought n
Chicago % restrain the Illinois Ifust
and Ssvings Bank from paying the
certificate Of deposited 10 Ar. baar's
order.