The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-01

the APPLICATION UNDER AMUSEMENT
0nlcsrs o. the Security Bsasvelsnt Assoc
siAsioa Having Trouble wi,hths
State Aushorlties.

Msssrs. Coleman 4 Ross, attorneys for
Wflltam Brough. Sr.. and william Brough,
n. father and son, filed an application In
the office OF the civil district clerk yes
terday for the appointment Of a receiver
for the Warren Land and Lumber COM
pany and the Texas Timber company.
The applicants allege In their petition
that they own stock In the two coml a.
MICA amounting In the aggregate to about
$4,000. Tho petition further alleges that
about August 1. 1894. the Texas Timber
company forfeited Its charter. and that
tina Tcxas Timber company and the War
rem Land and Lumber company have
since been operating jointly in the mill
Ing business under the same charter. that
giving authority to the Warren Land and
Lumber company to do business; that the
Texas Timber company, having forfeited
Its charter. is subject to dissolution, but
the directors being unable to agree to an
equitable partition OF the assets OF the
company, It is necessary for the court to
ad1udicate the claims Of the several par
ties interested. and. pending suit, the pc
titioners desire that q receiver take charge
of the affairs OF the two companies. The
petition further alleges that A. Young,
the president of both companies has ar
rogated to. himself the authority to run
and control the affairs of both companies.
and that instead OF doing as the interests
OF the companies require, he Is acting IN
his own private interests: that the books
OF the companies have been crroneously
kept and the funds diverted to channels
other than those for which they were
intended. The petition alleges that these
funds have been especially used In the
construction OF new line OF railroad
known as the Texas Yellow Pine rail
road. The petition prays for the appoint
mont of an auditor with authority to
audit the books OF both companies: for n
receiver and for an Injunction restraining
tho directors from disposing OF any OF the
property controlled by either the Texas
Lumber company
The petition was presented TO Hon. Sam
II. Brashear late yesterday and taken I'M
der adviscment by him. No order has
been made In the suit, and probably VIII
not be until tomorrow. this being legal
holiday.
ton both have headquarters nj Warren.
in Tyler county. the capital stock OF this
Warren Land and Lumber company be
ipE 100000 that of the Texas Timer
company being $1,000 The first named
corporation owns some of the finest mills
IN East Texas. having two saw mills ana
the State The Texas Timber company
owns twenty miles of tram railway IN
East Texas. Tho general nttornies, of
both companies are I.anicr. Kirby n Mar
tin OF this city. From them II is learned
that the forfeiture OF the charter OF the
Texas Timber company was by an over
sight on The part of the directors falling
to pay the franchise tax to the secretary
of state By an act OF the last leEisls-
ture all corporations SO situated were al
lowed until August l, 1895, to make good
their charters by paying their fees, but
the matter. vas again overlooked. The
company has undergone no dissolution,
hut has simply existed and continued Its
business. 1t IS understood the companies
are solvent and each doing a large bust
ness. The defendants allese that this suit
Ks on account OF u DISAGREEMENT among
tire as the one Just filed came up Tor a
hearing before Hon. Stephen T.. West
Ws,odxiiic two weeks ago. the defend
ants being represented by Hon. j. #.
1.anier of this city. Upon a hearing Judge
receiver applied for