The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-02-26
HOLDING THE STOCK.
sesttle Man Enjoins Stillagua-
mish Mining Company.
STEWART CASE WITH JURY TO-DAY
- Foreclosure on Gilman Property
-UnruIy Husband Restrained Pris-
oners for WaIlA waiiA-
STEWART CASE WITH JURY TODAY

~ November = last Judge Langley
~~.nsed yxr1ez sheehan and Alex H. Nor
80 = restraining order on the Stsllaxuz-
90 ard Satan Mining Company. q I'd its
sssrt .. trustees, J. W. elise. r. E Me-
- Fred 3. Crimson and Richard sykes.
ssssrxiasng and enjoining them from issu-
- ar stock for that company. On a
ss.rtng In December an injunction was
sv.rseS. when IL stili In force. sshe.haa
80 Morrison together owned originally
. ar cent OF the 8. go Of tbs capital
ssoek OF the company. which was iszsaeei 10
..Sm Ia payment OF a number OF mining
Gains ia snohomikh county near SsIverfoa
ss1 A. the head OF tho Sultan basin. Thlr-
- Ger cant more Of the stock was set
srss as treasury or development stock,
80 sas TO be sold exclusively by Sykes
q Engiaxss, hs TO pay TO the company s.
! share for IL. accordingly as he sold II,
azt 10 retain the remainder as his commits
ssr The remaining ~ per cent OF the
ssseg want 20 Sykes ard 70 Z. Il. Groat Of
n Paul who was at that time ths gen
sral immigration agent Of the Northern
psrssc railroad. Sykes and Groat togefh-
r. agreed 10 pay to the treasury OF ths
eonpsny $4,000 to De used In the develop
.eut of fhe property. This agreement was
SElsre4 IA Seattle on September IA. 1882,
sss sss stiilasuamlsh and Sultan Mining
Csnpany was Incorporated for the purpose
n carrying out the agreement In few
seeks after the organization OF the COM
ssay Groas was released from hts part of
ths obligation. which was all assumed by
eyxes. and Groat conveyed all his inter-
9fs 20 Sykes. The money was TO be paid
o the company In seml-annual INSTALL
u<s;a Sykes. who lives In Manchester.
Raelaa6, failed 10 meet the very first In
ssallment and was granted an extension OF
zine Various other extensions were grant
"A 10 him. but last June he refused TO be
teuaf any longer by the agreement. and
proposed as q substitute for IL that he bs
Allowed to issue T. 80 shares OF preferred
nock. which he thought he could sell i'm
England at high figure, and which would
carry with It the right to appropriate all
the property Of the company before any
liyidand might be paid 10 the common
stock shechan and Morrison took alarm
n this and applied to the court for a re-
s,raIniag order which was granted. Sykes
then dropped the preferred stock scheme.
aad entered into negotiations with saes-
han for q settlement OF the differences
between them. Meanwhile sykes' failurs
10 meet his payments led to the suspension
o. work on thu mines. which were closed
down last July. Nothing has since been
Zone on them, except the work done BY two
vatchmsn, who we're In charge.
The negotiations between Sheehan and
dykes have fallen through without ac-
eomplshing any result. Sheehan owns 49,
% shares Of the stock. and Morrison is
sad 10 have parted with all his interest ex-
capt a merely nominal interest In SIS
shasee. which are In escrow In the bank Of
The Guarantee Loan and Trust Company.
a this city. TO be delivered 10 Sykes upon
compliance with certain conditions.
eheshan brought suit yesterday to re-
strain the president and secretary OF The
company from issuing or Delivering to
nyfss or any nominee OF his $50 shares
Al N. ssock which il due 20 Sykes. or
would BE- due to him II ne kept his part OF
Ire agreement, but which has been held
hare for issuance TO the parties to whom
NJ shall sail II: and also to restrain the
Cuarantee Loan and Trust Company from
delivering 10 Sykes or his nominees the BOD
shar-s in escrow In It's bank. This stock
b alleged 10 be the only property OF Sykes
within the Jurisdiction OF tho superior
court of King county; and as Sykes Is
an English subject. residing In Manchester.
ana cannot hs reached by the process or
our courts, the forwarding OF this stock
grgiana would deprive SheehaD OF ali
n,~an- of giving effect 10 any judgment
witch he might recover against Sykes he
claims that within less than an hour after
The receipt Of Sykes demand for the trans
mission Of the stock to him or his nominees
III !
setary of the company 20 have the stock
pa, out OF the jurisdiction of the court.
ana thus leavs Sheehan without any prac-
teal remedy against Sykes for his VIOLATION
Of the agreement OF iSg1 Sheehan claims
tAss elise. Mccoy and the other local trus-
sws have no personal interest In the COM
paay ana are entirely under the control
Of Sykes, and would consequently aid him
N his schemes to get the stock away from
Seattle.
Judge Langley granted q restraining or
asr. and axed the hearing 90 IL 10:
March G.
Recent reports from the compary's
mines are 10 the eiyect that the watchmen
r. chsrg. OF them have struck vein or
ore much richer than the ore which has
been found in the Little Chief, and that
ire original expectation OF great richness
IN the group OF mines at the head 81 tbs
eai,an basin IA revived. II these reports
prove true the probability rs that the Eng
isNmen who have furnished over sen, 90 al
ready VIII raise more money and buy Shee-
Aaa out thus making the company entire
u British concern