The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1894-01-22

| by virtue of quantity of stock which he
| claimed to own therein, a large portion
| OF which, however, had been, according
| to his statement, illegally taken out Of
| his control. He, therefore, sued, together
with his fellow-plaintiff, II. NJ. Woolley,
for an accounting, making his father and
| brothers and all the other directors OF the
company defendants, on the theory that
they had conspired together to defraud
| him of his rights in the premises.
Philip \. Lilienthal and Meyer Ehrman
| were also made defendants, this being
| done, however, merely to comply with
| the formal necessities OF the case, their
connection with the matter being merely
| that of trustees to whom a quantity OF
| stock was temporarily decided at the time
certain bonds were issued by the COM
pany as means of raising money.
The attorneys in the cae spositively re-
fused to give the reason for the COM
promise or the agreement by which the
settlement was made. When so many
persons hold secret, however, leaks are
sure to occur, and many facts in regard
to the case were brought to light. q. A.
Spreckels had $50 shares of stock OF the
Hawaiian Commercial and Sugar Com
pany. By a S. assessment and other
means most of the stock OF the company
had been wiped out, until about $500
shares only remained. OF these the $50
shares of g.. A. Spreckels and sixty-one
shares in other hands formed two-6fths
of the whole. G.. A. Spreckels failed to
pay the S. assessment on his stock, but
it is alleged to have been paid by mis-
take by his brothers.
When Gus Spreckels wanted the stock
transferred on the books to his name his
brothers refused to comply with his re-
quest. OF the $50 shares c.. A. Spreckels
had but forty in his own name. The
name of Claus Spreckels was on 700 and
that of Henry l.. Dodge on $50, but they
were Endorsed and owned by G. A. or E.
Spreckels. He made another demand
to have the stock transferred to his
name, offering to reimburse his brothers
for the money paid on the assessment.
When they refused he commenced suit
as above stated.
The suit dragged along for six weeks,
until compromise which is said to be
thoroughly satisfactory to all parties con-
cerned was arranged.
By the terms of the compromise G.. A.
Spreckels will obtain full control of
s., 200, 900 worth of property belonging
to the Hawaiian Commercial and Sugar
Company. This company will be i'm
reorganized. The offices will
be removed from their present location
on Market street to 119 Bush street. In
a few days new board of directors will |
be elected. They will be as follows:
Rudolph Spreckels, Mountford Wilson,
Russell Wilson, G. A. Wheeler and w. E. |
Bond. The above names are those
given to commercial agency. Although |
the name of G.. A Spreckels does not |
appear he will be the power behind |
the throne. Thus ended the suit which |
was expected TO occupy the attention of |
the courts for many months. By the |
com promise G. A. Spreckels sewers him |
self forever in business sense from his |
father and his brothers. He has secured |
q fortune and an immense business, the |
success or failure of which will be due to |
bis own exertions, as he has full control |
Of it.
J. D. Spreckels and A. B. Spreckels |
both absolutely refused TO say anything |
when interviewed on the subject of the |