Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-11-27
Bic DAMAGE SUIT.


A suit brislling with charges VIA
fled In the county clerks ofiico rnurs-
day, says the San Frauciaco Chronicle,
by n. A. wooiey aud &. a. 5Pr'ckles
arain.t the Hawaiian Commercial and
sugar oompa y, Claus Sufecsels, J. d
spreck-l-, A 70 5pfsckis, w. D. X
Gib.on, n. "a. Weed, % n LIlien uh
and Meyer Enfmsl. fns suIt 10 Tor
accounting 10 recover shares u stock,
annul an issue Of bonds aud moriges
deeds and for damages.
The complaint char e. that G. a.
sprrckle. is the owner Z 500 sharcs iu
tha Hawaiian Commercial company,
200 uf which stand in the name OF
Claus Spreckels and $50 Ia the name ui
A.. l.. Dodge. Spfccsltg AYERS that n
has made a demand 10 have the crfllii
Gates Tor these shares placed M M
name, but alleges thnt the defendant
corporation, at tbs Instance Ot Claus
Sureckels, J. ID. Sprccklus aud a. b'
Bpfeoklcs, has refused 10 make trans
icr
The complaint states that on May 20,
1886, the defendant cOrplration is-uol
100 Ier cent bonds Uf $1,000 cAchi
secured by a mortgage on all the com
pauy's property, executed agd ne
ilvcfcd 20 Philip y. Lilienthai anu
Meyer Ehrman. Inis entire Issue OF
bonds was sold 10 the defendant, Claus
spfockols, after which 200 DJuiH were
cancelled. Claus Sprtckels, however,
was stlll lcft IN coutfUl Of more than
twu.thirds Of the entire issun. The
complaint charges that no meeting OF
ftockhaldors was c-er held authorlz.
ing the Issuance % bonds, nor was the
consent " the persons holding the ma
jofity Of the capital siOoK obtained, a.
required by law.
The clam IL ALEC made that no Ger.
tliicnts In the matter Of the bonded
Indebtedness was ever signed by the
chairman or secretary VI any meeting
OF stockholders, nor was any such ccf-
tihCate iiluu with the county clerk,
The affairs, dealings aud business Of
the Hawaiian Commercial anu Sugar
company are set forth Ia the complaint
vt great length. 10 appears that tho
company has always been solvent aud
that In October l. 1892, H. Rssets
amounted TO 81, $3.50, 900, consisting Of
real estate worth S17O,30O; tools anu
utensils valued at St5,831.5O; horses,
mules aud wagons valued at Sil ,B7l go,
furniture valued at fl,70O.68; buoy,
lighters and harbor frontage valued ut
SD,267,62; buildings aud improvements,
value s2U3, 80Os3; steam plDws, value
$50, 5n4s5; mill bulldogs valued nj
81 ,U56, 1859; an Item known "a the
"consructlou account" valued at
gSsl, 1855. IS; fencing valued nj $50, 252.-
"a ~ aNf
gl7,550.75; the Scotch mill, value
Waihoe ditch. sl7l ,0973l; a railroad
valued at s8il,75b.75; Camp No.
reservoir. s2,8i2.IJ; cash On
Francisco office, S80a5l; merchan.
dise, s0l, 2s3.l7; cash on deposit with
w. q. Irwin 4 Co., OF Honolulu, $50.
l7n.Ol; an account known M the plan.
tstion oillce account amounting 10 Sl0,.
00l 90; the plantation account amount
ing 10 siH,70D.7s.
A opposed 10 this form liable list Of
assetH II IL stated that the total out
standing Indebtedness Of the corpora.
ton did not exceed 5000. It In from
this showing that the plaintiffs argue
that IL was Unnecessary 10 make tue
Issue Of bonds which they now ques.
tion.
The plaintiffs ask for an Injunction
restraining the defendants or the bond.
holders from taking any proceedings
until "A complete accounting has been
had Of the affairs Of the corporation.
The court IL also asked to decree a
transfer 10 q. A. Sprcukles Of the stock
In the name 81 Claus Sprecblcs and
IL. l.. Dodge. The plaintiffs also ask
that Claus spreekles, John D,Sprecklus
and A. -. SpTeckles be- compelled TO
pay $1,000, 900 as punitive damages.