Evening journal., 1896-12-03
ANOTHER ADDICKS SUIT
Creditors Insist on Pushing the
Gas Man 70 the Wall.
THE COURT GRANTS THE DECREE
THE FIDELITY TRUST AND SAFE
DEPOSIT COMPANYFILEs A BILL
OF COMPLAINT AGAINST THE
CONfpA Al Nv. .rr111, prrr m r,trtr

OF COMPLAINT AGAINST THE
COMPANY-THE BILL IN FULL.
In the United States Circuit Court to-day
James II. Honecker. Jr.. attorney for
the Fidelity Insurance. Trust and Safe
Deposit Company OF Philadelphia, ex-
ecutor Of Henry c. Gibson deceased.
presented the following pie. the suit
OF the company against the lay State
Gas Company for an accounting OF its
money and other assets. and the ap-
pointment of receiver TO take charge
thereof:
In the Circuit Court Of the United
States, for the district of Delaware. in
equity session. 1896. the Fidelity Insur
ance, Trust and Safe Deposit Com
pany, corporation created by and ex-
isting under the laws of the State of
pennsylvania, and a citizen thereof.
executor under the last will and testa-
ment of Henry c. Gibson deceased.
and the Bay State Gas Company. a
corporation organized itself, and all
other stockholders of the said com
pany who may join herein, brings this.
its bill of complaint. against the Bay
State Gas Company. a corporation Gre
ated by and existing under the laws OF
the State of Delaware and a citizen
thereof, and thereupon your orator
shows as follows:
First The defendant is a citizen of
the State of Delaware and is a corpo-
ration duly created under the laws of
the State of Delaware, under and by
virtue of an act of the Legislature
passed April "a, 1889, under the name
of the Peninsula Investment Company.
which name was duly changed TO that
of the Bay State Gas Company. Your
orator is the holder of 1850 shares of
the capital stock of the said company.
Second. Your orator further shows
that from its incorporation j. Edward
Addicks has had entire control of the
said company, and that the directors Of
the said company were selected and
named by him, and they have acted
solely at his dictation.
Third. Your orator further shows
that the said corporation defendant ac-
/ quired, in consideration of an issue of
| 1000, 900 Of income bonds and of GER
tain shares of its capital stock. the
ownership of a certain obligation of
the Bay State Gas Company, of Massa-
chusetts, for S4,500, 600, and II the
business Of said company had been
faithfully and properly managed. il
| would have been able to pay interest
upon the said bonds and dividends
upon its said shares OF capital stock
But your orator has recently learned
that the said company. acting at the
dictatiOn of the said Addicks, surren-
dered said obligation for s4.500,0O for
an inadequate consideration, consist
ing of 81 100000 of the capital stock of
the Bay State Gas Company, OF Massa
chusetts, which would only entitle the
! corporation defendant to 75 per cent
instead of 90 per cent. of the earnings
of the said Bay State Gas Company, OF
Massachusetts, and subsequently as
signed and transferred the said shares
Of capital stock for a still less ade-
quate consideration, to wit: 81 100000
Of collateral trust bonds.
Fourth. Your orator further shows
that no report or explanation has been
given by the company defendant
to its stockholders explaining why
these changes should have been made
or what became of the said collateral
trust bonds received in exchange for
the capital stock of the Bay State Gas
Company, Of Massachusetts.
Fifth. Your orator further shows
that additional shares of the capital
stock of the corporation defendant tC
large amount the particulars oi
which are to your orators unknown
have been issued. and your orator Is
unable TO ascertain what consideration
b If any, has been received. but upon
information and belief, AYERS anC
charges that the same was issued fol
: much less than par, and without ade
Quate or lawful consideration.
5 Wherefore your orator needs relief
b and, therefore, prays as follows.
First. For full discovery as to al
the acts and doings of the corpora
2 ton defendant. and especially in re
spect TO the surrender or transfer o
the said bond or obligation Of the Bal
State Gas Company. OF Massachusetts
{ for 81, 500 600, and for the surrender o
transfer Of the shares of stock or col
lateral trust bonds received in connec
E tion thereof, and especially further il
& respect to the issue Of additiona
g shares of stock and the consideration
S received therefor.
e Second. That a receiver be ap
e pointed, with the usual powers, to TAX
. possession of the assets, effects ant
credits Of the defendant, and for tn
purpose of recovering, by proper pro
cess and under the direction of tn
- court, such of its money and other as
y sets and property as have been dis
+. posed of fraudulently, illegally an
T. without consideration.
!. Third. That a writ of subpoena di
r rected to the said company may be is
S sued under the rules OF this court, an
that the defendant company, and il
officers and agents be enjoined an
restrained by injunction from maxim
/. any further disposition Of the asset
or effects Of the company until afte
"a the further order of the court an
n such further and other relief as th
circumstances of the case may requiI
and the court may deem expedient.
Signed: The Fidelity Insuranc
Trust and Safe Deposit Company. el
: ecutor; Charles Atherton. vice-pres
!, dent Attest: II. II. Pigott, secretaI
~ J. H. Hoffecker, Samuel Dixon, couns
for complainants.
BILL OF NOTICE.
+ Circuit Court of the United state
q for the district of Delaware, in eQuit
"a | Codfrpv Morse et al and Raw STA