Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-08

orator, and some of them had already done
so. As before shown, said stock had no
value, and for years the highest price paid
| for it was so cents a share In December,
| 1890, your orator was informed that certain
parties, officers and stockholders of the said
Hall Company, and others, were purchasing
said stock at S. per share.
BOUGHT FOR THE BIJoU THEATER.
'Upon inquirvEand.nv it was
| learned, and after said parties had obtained
q controlling interest in said stock, they
i admitted they were making said purchases
| in the interests of II. NJ. Bennett, one of
the partners of R. NJ Gulick & Company,
one of the defendants herein, and one of the
proprietors of the Bijou Theater, which oc-
cupies a part of the Library property, that
their intention was to purchase a little over
one-half of the stock of the Hall Company,
so that its management could be controlled
with respect to the Library property, so as
to not only extend r. NJ. Gulick's lease,
which expires shortly, on favorable terms,
but give said firm additional room in the
building, and make at the expense of the
| Hall Company, certain expensive changes
| and repairs on their behalf. Said parties
! also stated that they only intended to get
sufficient of said stock to control said Hall
Company, and that when such major portion
of said stock had been obtained, the re-
mainder would be practically worthless.
TRANSFERS OF STOCK OBTAINED.
"Your orator further shows that said
officers and managers of the Library Hall
Company, in the year 1889, and up until
shortly before the 1st of January, 1891, COM
bining with said H. NJ. Bennett, and by
using the information gained from their
Official connection with the Library Hall
~ = Il a..
obtained, upon Misrepresentation, q trans
fer of a majority of the stock in the Mer-
camille Library Hall Company to them
selves and said H. NJ. Bennett, for the pur-
pose of preventing the carrying out of the
object for which the Mercantile Company
was incorporated, and in disregard and in
violation of the terms of the agreement ex-
listing between the Mercantile Library Hall
Company and your orator, dated March 10,
1871, and the rights granted TO them by
their respective charters and for the further
purpose of their own individual and private
gain. That in procuring the transfer above
mentioned to themselves, and for the bene-
fit of themselves and H. NJ. Bennett, it was
represented that the same was being pro-
cured for the use, benefit and advancement
Of the interests of your orator.
MIR. BENNETT ON TOP NOW.
'Your orator AYERS that the said majority
of stock in said Library Hall Company is
held in the interest of said H. N. Bennett,
above named; that a suffcisNI number of
shares of the same is held for him without
consideration as an expedient and for his |
benefit by members of the present Board of
Managers of the Library Hall Company, so |
that the control of ajority of said board |
is under the direction of said H. NJ Ben |
nett; that the original bill in this case was |
filed solely in his interests without regard |
to the rights of your orator or the Hall Com |
pany, its trustee, and with the object, |
through said Board of Managers, to use the |
rights and property of your orator and of the |
Hall Company wrongfully and illegally; |
that your orator now stands ready to repay |
said officers and H. NJ. Bennett the price |
which they paid for the stock so purchased,
and now tenders the same, with interest |
thereon from the date of said purchases, so
that said officers and said Bennett may be
fully reimbursed for any outlay which they |
may have made on this behalf. That unless |
immediate relief be granted unto your ora
tor the entire trust property will be not
only imperriled but the mortgages will be
foreclosed aud it will be actually sold.
A RECEIVER NOW ASKED FOR.
"Wherefore, your orator needs equitable
relief and prays: First-That receiver be
appointed to manage the property known
as the Mercantile Library Hall, described
in the original bill filed in this case and
mentioned herein, and apply the revenues
thereof in accordance with the rights of
your orator and said Hall Company, and es-
pecially that said receiver be forthwith or
dered to collect all outstanding rents now
due from and all moneys arising from rents
of said trust property and under order of
this Court properly apply the same.
"Second-To enj DIN the said Hall Company
from disposing of the funds now in its
treasury in any other manner than provided
by the several agreements existing between
said Hall Company and your orator
''Third-To enjoin said Hall Company, |
its managers and stockholders, from divert
ing said library property from the uses and
purposes to which the same was dedicated
by the acts incorporating said companies,
and the agreements existing between them.
"Fourth-To direct the transfer of the
stock in the Mercantile Library Hall Com
pany, now held by certain managers and |.
II. NJ. Bennett, to your orator upon pay
ment to them of the cost thereof, with in
terest from the date of its purchase, and
restrain such persons from in any way dis
posing of said stock, and to declare them to
be trustees of your orator. and to hold said
stock for its benefit, to be transferred to it
1n the payment of the cost thereof as above
set forth.
''Fifth-Such other and general relief as
to your Honorable Court may seem meet
and fit.