The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1893-12-12

4
The total outstanding liabilities OF
the contrary are represented 70 DC ~
more that S5,000-exeluSfve OF IN
bonds
The Spreckels corporation has 80
acres at Hawaii planted in sugar cane
which viii Be ready and ripe for har
vest in the latter part OF December
The crop amounts 10 many thousand;
Of tons and is worth 500, 600 over anC
above the necessary costs Of harvest
Jag and marketing.
since the lst day Of October, 1SS2i
il is further sisted, the corporation
hiss raised s crop upon its Rs-
wSiian land worth 100000, on
which there should be s net profit
Of 500, 600; but TO make the COM
pauy appear poorer than il is, the
Z Spreekels defendants, so il is charged,
z have stored $500 worth of sugar ST
the Islands, withholding il from SSle-
Z On October l, 1892, W. G. Irwin &
Co. OF Honolulu owed the company
I SIS, coo. Claus Spreckels was part
7 uer, il Is claimed, and the firm OF r.
win & Co. never pSid that money,
though entirely solvent
Although the capital stock Of the
corporation is in 10000 shares II Is
asserted that but 2551 are now out
standing, the balance being held IS
treasury stock. The $50 that Z. =.
Spreckels claims sre inclnded in the
255I.
The stock belonging to the plaintiffs
represented IS amounting to $780,
600, would, it is said, be rendered
worthless if the alleged fraud were
carried out.
The plaintiffs pray that the pre-
tended bonded Indebtedness and the
mortgage be set aside; that Lielieuth4l
and Ehrman be eDjOined from iusti-
tuting suit for foreclosure; that Claus
Spreckels, J. D. Spreekels and a. B.
Spreckels be eDjoined from acting as
directors Of the corporation and from
taking any action in regard TO the |
mortgage, and thSt the defendants be 1
compelled to account for all the mon I
eys paid out or expended by them, or /
under their control.
Further, il is asked that Claus 1
Spreckels, J. D. Spreekels and A. B. 4
Spreckels be compelled to pay 10 the
corporation S2,50O, GOO as punitive dam
ages on SccoUnt of the conspiracy, and
that punitive damages be paid TO the
plaintiffs as the Court may see fit.
A temporary restraining order has
been issued to prevent any action in
TO the mortgage, pending the
hearing Of the charges
It appears that though filed on the
9th, the complaint was by some
means suppressed until the sd.
Speaking Of the matter, Attorney
Samuel N. ShOrtridge, on behalf of
the Hawaiian Company, characterized
the action Of c. a. Spreckels, the
plaintiff, in bringing the suit, as base
' Instead Of threatening his father,
Claus Spreckels, and his brothers John
D. and A. B. Spreckels, with q lawsuit ,
or S2.500,OOO on cOck-and- bull story
If robbery, he should be congratulate
ng himself on their continued kind !
less to him in the past" !
Mr.. ShOrtridge admitted that the
7OUng man, who Is generally known 5
IS Gus" had called on him once
With reference to this intention Of his
o bring suit, but he did not believe
hat he was serious.
1t must be,u continued Mr.. Short :
idge, that this young man is either il
razy or is being egged on in this I
natter by bad advisers. The suit is
rought in the name Of H. A. Wooley, h
ut him l regard simp lyas beneath Il
They have struck the wrong men
they thing TO cOerce or intimidate
'laUs Spreckels and his two sons into 5
aging them money, if that is their Il
beet What makes me think it
must be q case OF extortiOu is the fact
hat the filing of the complaint was
from publication last Non
ay and the young mans attorneys I
anne to Us sHd proposed to continue
: suppression If We would settle at L
heir terms. OF course we rejected o
leh 4 corrupt proposal with the scOrn ! Q
. deserved. T
There is no use discussing that ridf- T
1lOus complaint in detail. C. \.
preckels wishes to force my clients
admit that he owns certain shares, d
Cd ne takes this way to do it, know r.
IL his own obligations and those Of n
le company 10 his fathers exertions. i
lis father and brothers have con- v
silently aided him, and be has never b
sfore limited at the least improperly II
q their part.
There Is nothing to conceal in the Z
fairs Of the company, and, should "
le suit come to trial, the ownership te
the bonds in question, their issue 4
I'D all the circumstances will be u
assed upon by the Court. 1 will -
ate, though, that as regards an an IL
ual meeting not having been held, it Q
as by c. a. Spreckels' own request nj
lat it was not held.H :.
The main cause OF complaint re-
.rred to 1.-THE pretended bonded in a.
abtedness OF the company. The "
sfendants were stated to have will n
lily caused the Hawaiian Company :
default in payment Of interest on ="
le bonds, and to have caused Messrs. p
ihenthal and Ehrman to bring a ST
,reclosure suit in the Courts of the nj
hawaiian Islands, thereby endanger-
lg property to the amount of 1900
%.
P. n. Lilienthal did not DENY that
e and Ehrman had taken the action
.ferred 10, but stated that they were ="
OF personally interested. They oecu- g
led the position of trustees to the e.
and were obliged to do v
J the condition Of their trust re- -
lired. L