The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-09
THE INJUNCTION DISSOLVED.
THE MUTUAL COOPERATIVE As
SETS To BE SOLD OUT.

Several of the Plaintiffs Who Asked
for the Injunction were Paid for
Their stock in Full, and Others
Agreed TO Take Their Pro Rata in
the Wind Up-The Conclusion
Reached a Satisfactory One to All
Parties Interested.
The restraining order preventing the
majority stockholders Of the Mutual Co
operative Association from advertising
and selling out the assets Of the associa-
ton was dissolved by Judge Falligant
yesterday. and the advertisement calling
for bids. for the property is published in
to-day's Morning News.
The order dissolving the injunction Is as
follows:
Brady et al VS.. Aveilhe ct al 1t appear
ing to the court that all the plaintiffs in
the above stated case have dismissed their
action except Thomas Brady, j. +. Gala
gher, and John Z. Mcguire, and that the
claim OF the last three mentioned has
been settled by the defendants, It Is or
dered that the case be entered dismissed
as TO the first mentioned and settled as TO
the last. and that the restraining order
heretofore granted be dissolved. r. Falll-
CANT, Judge +. J. G.
This means that all Of the Directing
stockholders with the exception of those
mentioned in the order, and one or two 9TH
ers who have been settled with since have
agreed TO let the sale go on and take their
pro rata share Of the proceeds for their
stock. The three mentioned were paid so
per share for their stock, 10 per cent. earn
ings and 10 per cent. rebates on thier pur-
chases. The minimum price agreed upon
in the resolution authorizing the sale Of
the property was $Z5 per share.
When the bill was first filed and the or
der granted stopping the sale, propositions
began to be made on both sides looking to
a settlement. 1t is stated by the plaintiffs
that just as soon as the defendants agreed
to throw out all of the alleged illegal
votes the point was reached in the nego-
tiatiOns where the two sides came togeth-
er, Some of the plaintiffs were paid OFF in
fun and others decided TO leave their
stock IN and take their pro rata in the wind
up. Three others besides those mentioned
in the order have been paid for their stock
at the rate stated above.
The sale was advertised at once, after
the injunction was dissolved. The adYer-
tisement calls for sealed bids for all the
assets of the association, including money
in hand, accounts, notes, stock and fix
lures. The purchaser is to assume all liza
biltties of the association and the bids
must be for cash They are to be directed
to H. +. Hutchens, acting president, and
delivered to Mr.. George S. Van Horne,
agent, not later than y O'Clock noon, on
Monday, Feb. L. Mr.. Van Horne will
furnish detailed information to bidders.
Out of the twenty-five stockholders who
signed the petition for the injunction, nine
teen have now agreed to the sale, and the
six others have been settled with through
a purchase of their stock. 1t was shown
that the majority stockholders had with
them fifty-three out of eighty-six votes
Jan. ], 1896, that is, each stockholder being
allowed only one vote they had ma
jority of the votes, as well as OF the stock,
and the defendants say they had this bona
fide majority at the time of the meeting.
1t seems that everybody is agreed now
to let the sale go on, and all are satisfied
with the turn the matter has taken.