Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-11-19
THE ROWEll SYNDICATE.
Hearing on Matters Connected With This
Concern-Claims Against Company.

Saturday night last there was a hearing
before Hon. Charles f. johnson, as re-
ceiver of the Rowell Syndicate and Trad
ing Company, Of, which II. ID. Rowell was
manager, at Wateryille The company
was organized, Feb. Q, and was officially
approved by Hon. Frederick A. Powers,
as attorney general Feb. 25 June IA an
an order was made by Chief Justice
Peters, on petition signed by c. F. Car
penter. treasurer of this company, fixing
July as the date of hearing on appli-
cations 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 Z. F.
Carpent r, treasurer of The respondent
corporation states that February 18th,
1895, H. D. Rowell was the alleged owner
and possessor of three stocks Of merohan-
disc in three stores in Bath, Wsterville
and Skowhegan, and that about that date
Rowell executed in bill of sale Of the
merchandise in these stores to Forest f..
Roweil, 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.
Rowcil who has refused to return it, or
a copy. 1t is also charged that Charles
W. Morrill, and wife conveyed, by deed
OF sale, to the Rowell company, mcrchan-
disc in an Augusta store in exchange for
700 shares of company stock. a
part of which money remains I'M
pad, and Mrs Morrill, began a
suit and attached the stock in the
store. and Fl. d. Rowell also began suit
against the corporation and attached
stock in the store. 1t is also claimed that
by the consent of all parties the stocks in
the stores were transferred to the company
as its sole property and that Fl. ID. Rowell
in his capacity of manager, bought
lot of merchandise and mingled it
with the merchandise in the company
stores, and that Forest A. Rowell without
authority. gave H. ID. Rowell bill of
sale of all the merchandise, which he held
in trust, and H. d. Rowell claimed it
under the conveyance. 1t is also claimed
that the respondents gave their promissory
notes. as their contribution to the com
pany, amounting to Sl5, 900, and endorsed
by Mr.. Carpenter, and the makers have
refused to cancel the complainant en-
doscment.
The treasurer, Mr.. Carpenter, also al
leges, that In defiance of the provisions of
the by laws of the company and those that
usually attach to the duties of treasurer,
Mr.. H. D. Rowcll has taken and conveyed
to his own use $40 of the company funds,
and that he Is taking the proceeds of the
sale OF merchandise in the stores, already
mentioned in fraud of the rights of the
stockholders ard creditors of the corpora
ton. and has changed the sign on the
WatervIlle store by covering up all but the
word "Rowell," and has taken the mer-
chandise in 1t and demanded that in the
Bath store. The complainant also alleges
that the company liabilities are in excess
of $4,000, of which $1,000 is overdue and
the corporation alleged insolvent He
also states that he believes that H. d.
Rowell, assisted by the respondents, C. B.
Green, F. A. Rowell and A. W. Harvey.
have conspired to defraud the stockholders
and creditors of the corporation.
The prayer of the petitioner was for the
appointment of a receiver the preventing
of H. u Rowell from acting in any way
as for the company and that the respond
ents, C. B. Green, W. A. Harvey. c. W.
Morrill, and L. Fl. Folsom be restrained
from paying money to HI. ID. Rowell, or
putting any of the notes endorsed by the
treasurer in circulation, and the makers
or holders Of the note cancel thu endorse
ment.
On the petition Judge Whitehouse APP
pointed Receiver Johnson, who will certify
TO thu facts brought out at the hearing oD
the claims to the courts. W f. p Fogg
and f. A Waldron are the complainant 8
solicitors.
1t is thought the claims against the
company will be about $4,000. Mr. s L.
Larrabec appeared at the hearing for +.
K. Briggs of Deering Center, a creditor
who claims to have received notes and
mortgages from H. ID. Rowell for goods
valued at s697, and these were signed by
c. W. and Olivia Z. Morrill, for 500
Herbert ID. Rowell demands payment
for all his original stocks OF goods, and
claims to hold the notes Of the corpora
tion 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 hear
ing, because of the absence of C. f. Car
penter, a material witness for the corpora
ton. This claim brings Herbert d.
Rowell into the case as creditor of the
company inst lad of a stakeholder The
hearing was on the claims of creditors
Judge Philbrook of Waterville, appeared
for Herbert d. Rowell, f. A. Waldrop.
for other creditors whose claims were pre
sented, and Mr.. Larrabee for Mr. Briggs.
Portland Press.