The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-11-18
FRAUD CHARGED.
Hearing in Regard to the Rowell Syndicate
Trading Company.

Trading Company.
Saturday night. last there was hear
ing before Hon. Charles E. Johnson, as
receiver of the Rowell Syeicate and
Trading company of which H. d. Rowell
was manager, at Waterville. The COM
pany was organized, February 9th, and
was officially approved by Hon. Frederick
A. Powers as attorney general February
10Th. June 14th an order was made by
Chief Justice. Peters, on petition signed
by Q. F. Carpenter, treasurer of this
company, fixing July LIST as the date of a
hearing on applications for receiver and
Mr. johnson was appointed.
The petition sets forth what the Rowell
Syndicate and Trading company was
where its place of business was established
and that the proceedings were directed
against the directors, stockholders and
managers. The bill in equity of c. +.
Carpenter, treasurer OF the respondent
corporation states that February 10Th,
1895, H. D. Rowell was the alleged owner
and possessor of three stocks of lnerchan-
disc in three stores In Bath, Waterville
and Skowhegan, and that about thatsdate
Rowel executed in bill of sale of the
merchandise in these stores to Forest A.
Rowell, in trust for the purchasing
partner, and that this bill of sale was de-
posted with Carpenter as treasurer. and
later was distracted by Herbert D..
y, sod 10
copy. 1t is also charged that Charles
W. Morrill, and wife conveyed, by deed
of sale, to the Rowell company merchan-
disc in an Augusta store in exchange for
700 shares company stock, a part of which
money remains unpaid, and Mrs. Morrill,
began suit and attached the stock in
the store, and Ell. d. Rowell also began a
suit against the corporation and attached
stock in the store. 1t is also claimed that
by the consent of all parties the stocks
pany as its sole property and that H. d.
Roweil in his capacity OF manager,
bought lot of merchandise and mingled
it with the merchandise in the company g
stores, and that ForestA. Rowell without
authority, gave Fl. d. Rowell bill of
sale of all the merchandise, which he
held in trust, and 81. D. Rowell claimed
it under the conveyance. 1t is also
claimed that the respondents gave their
promissory notes, as their contribution to
the company, amounting to $500, and
endorsed by Mr.. Carpenter, and the
makers have refused to cancel the COM
plainant's endorsement.
The treasurer, Mr.. Carpenter also
alleges that in defiance of the provisions
Of the bylaws of the company and those
that usually attach to the duties of
treasurer, Mr.. II. ID. Rowen has taken
and converted to his own use $1,000 of the
company funds, and that he is taking the
proceeds Of the sale of the merchandise in
the stores, already mentioned in fraud of
the rights of the stockholders and
creditors of the corporation. and has
changed the sign on the Waterville store
by covering up all but the word
"Rowell," and has taken the merchan-
disc in it and demanded that in the Bath
SUOI6. u0 OOluplcS1h6AU hloO eel4OsSCo UA4o
company liabilities are in excess of $4,000
of which $4,000 is overdue and the corpo-
ration alleged insolvent. He also states
that he believes that Fl. d. Rowell assisted
by the respondent G. B. Green, T. A.
Rowell and A. W. Harvey have conspired
to defnRud the stockholders and creditors
Of the corporation.
The prayer of the petitioner was for the
appointment of receiver, the preventing
of II. ID. Rowell from acting in any way
as for the company, and that the re-
spondents c. B. Green, W. A. Harvey,
G. w. Morrill, and L. H. Folsom be re-
strained from paying money to Fl. D.
Rowell, or putting any of the notes en-
dorsed by the treasurer in circulation,
and the makers or holders of the mote
cancel the endorsement.
On the petition Judge Whitehouse ap-
pointed Receiver Johnson, who will
certify to the facts brought out at the
hearing on the claims to the courts. W.
f. P. Fogg and F. A. Waldron are the
oomplainant's solicitors.
1t is thought the claims against the
company will be about $4,000. Mr.. S. L.
Larrabee appeared at the hearing for f.
E. Briggs of Deering Center, a creditor
who claims to have received notes and
mortgages from Fl. u. Rowell for goods
valued at $697, and these were singed by
G. W. and Olivia E. Morrill, for $500.
Herbert D. Rowell demands payment
for all his original stocks of goods, and
claims to hold the notes Of the corpora
ton for the amount claimed, instead of
stock in the corporation as is otherwise
claimed. Receiver johnson was unable
to go into this claim at the Saturday
hearing, because of the absence of G. T.
Carpenter, material witness for the
corporation. This claim brings Herbert
D. Rowell into the case as creditor of
the company instead of a stakeholder.
The shearing was on the claims of
creditors Judge Philbrook of Waterville
appeared for Herbert ID. Rowell, E. A.
Waldron, for other creditors whose claims
were presented, and Mr.. Larrabee for Mr..
Briggs.