New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-11

James w. Carlisle and Thomas j. O'Donne all OF
Colorado. and John G. Beatty. of Texas
The defendants are all directors. The company
was incorporated on January = 1892. as the Arizona
and Sonora Land and Irrigation Company, but
changed It's name on January 9, 1898, to the pres
ent title. Ostensiby ii was formed to carry on
irrigation OF lands in California Arizona. Lower
California and Mexico. Its capital stock was put
down at s75aC.O00 divided into 10000 shares OF g."
each.
How much OF this stock is paid FOR cannot be
as.ertaned from the papers According to the
bill OF complaint. however. the company was
formed by John c. Beatty for his sole interest
and benefit Beatty told the directors that he
had the title to 10000 acres of land. known as
the "Jecker Commission" along the Alter River
In the State OF Sonora. Mexico. lie agreed 70
transfer this land for the amount Of the capital
stock in other words to sell 1t to the company for
E.50OlO. The question is now raised whether ne
actually held the title to the land.
ono 4 the aniavlts which the complaint is
basel is made hy Henry n. Whitman. attorney for
the complainants. lie charges fraud and other
wrongful aad ultra wires acts on the part OF the De-
PENDANT company and Beatty. including the spu-
riOus issu" OF stock ana the CONVERSION by thc de
fentdni Ec'tty OF lars" sums OF lny.ey Veiynsans
that the minute b1ops y the company In which are
supposed to bee recorded certain Transactions making
reccrl and that the resolutions alleged to have
been passed by the Board II Directors. giving GER
tam powers - BfhtfNs W'i' ll''Fi In79'N ~ 80
Tho iooks are now In possession Of the secretary
OF the board In New-Nork
Mr. Whitman further SAYS that II a temporary
receiver Is not appointed forthwith by the court
Beatty and directors may remove them OUT
OF che Jurisdiction OF the court. AMI perhaps de-
-trOy them. , =,
HetftV Of Thoro1. ont. a nan"sak" or the pI'n
ri,,l Il. f.ulsnt He holds lnrr shares of the capt
tai stock on which he has rctdy paiI ny Si9p
lie too l. a director OF the company lie says
thar a.. has recently been "ugag'i IN .nF"stgatiie
and "fcrrrtlng OUT the Affairs 81 me concern re
found from what books D. has seen. he AYERS. mat
his Texas namcsake H. indebted 10 the company III
N. sum ~ several thousand dollars ana learns ina,
ne nroposcs o sell certain assets wnch tHe boafh
OF directors gave him no power to sell II" ac-
cisci IN. defendant Realty Of wrongioing. ne says
ard Beatty dii not den; H. 49,.
The bin u complaint then goes on 10 state that
p,nfty having o1tanci an issue Of capital stock py
fraudulent and fictitious statements, wants 10 sou
il ~ Innocent purchasers as stock fully paid up,
70 sot control Of the stock % the company. IN,
hiii ~ complain, says. ne had himself appointed
a wear AMI Frank \. Miller vic"-pre"dent AZ
- melting ~ the Board u Directors. held IN
Drrv.r On January No. ls9l Beatty presided ami
r,n.f.rred 10 himself 5000 sharr'. for when no Was
- rlv, so 90 acres u land The Board OF DIRECTORS
then decided to issue 5000 now shares To max u2
thr lrncii This they did IN spite oi the protest pf
lanes II Realty. The latter then applied To the
supreme Cour' IN this state for Il nani1nus 70 see
m, hanks but the Texas Beatty clrcuinNentcI hln
bv going - California ana taking the books WIN
him Beatty T. now In Providence. H. J.
The total cash receipts Of the company on De-
cember 81 1873 were ill7 0h, D. and the lishursa-
Judge I.acoInbe will give hearing on tho applIca-