The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-12-09
Further Litigation On the Million
Of Waialua.
Is BY SAN FRAN BUYERS
Tell Of the Dealing With WelCh &
Co.-Many Defendants Are
on the List.

The matter OF issuance of stock in
taken a new and interesting turn by
the institution OF a law suit in which
the plaintiffs are:
James A. Hopper, J. A. McCandless,
doing business under the firm name
and style OF "MsCandless Brothers, y
and j. A. McCandless.
Defendants are:
The Waialua Agricultural Company,
Limited, Welch & Company, corpor-
alton; II. Francis and J. e. Tucker,
doing business under the firm and
style of Francis & Tucker J. B.
Bowen, b. F. Dillingham;, John H.
Soper, E. S. Valentine, r. p Rithet. G..
H. Crocker, John Galwey, John I. Gill
martin, w. A. Swinerton, William
Berg, Charles 7. Wilder, Mrs E. A.
Miller, George H. Collins, A. B. Hold
en- (trustee) Mrs. Adeline G. Butler, A.
r. Downs, George Mcleod, George H.
Johnson, Nj. J. Brandenstein, M. p.
Hendry's Son G Company, and Good
all, Perkins 6 Company.
Appended to the bill which the
plaintiffs have prepared for the court,
prospectus prepared by the WaialIa
Agricultural Company, and issued by
their agents in San Francisco. Under
the heading of "Stcck Offered For Sale
the prospectus says: "Under an assign
ment OF sale in which we are interest
ed, we cffer you any part Of 10000
shares unsold at the time your sub
scription is made, at the par value of
500, payable 10 per cent down and the
balance on call as required by the
Board of Directors (probably every
three months) subscriptions to be paid
TO Messrs. Welch e Co, of San Fran
cisco. Shares to be allotted in the
order that subscriptions are paid in
The plaintiffs. claiming to have sub
scribed for stock in San Francisco, in
accordance with the representations of
the cOmpany'S prospectus, now petition
the court as follows:
That your petitioners are informed
and believe it to be true, and upon
such information and belief allege, that
sometime prior to the incorporation of
said defendant company, the Waiaiua
Agricultural Company, Limited, (by
and with the consent, knowledge,
authority and acquiescence of the
aforesaid defendants, J. B. Atherton E.
ID. Tenney, William A. Bowen and B.
F. Dillingham;, promoters as aforesaid
Of said defendant company the said
defendants, Welch C Company, Fran
els & Tucker, John H. Soper and e. S.
Valentine, did prepare, issue and pub
lish prospectus of said defendant
company, the Waialua Agricultural
Company, Limited, and did offer for
sale in the said City of San Francisco,
stock in the said defendant company;
That your petitioners further allege
and aver that they and each of them
were solicited by one or more Of said
defendants, in said City of San Fran
cisco, to subscribe for stock in the
said defendant company, and that act
ing and relying upon the representa-
tionS and statements held out by the
said defendants, your petitioners did,
in good faith, subscribe to the capital
stock of the said defendant company,
and did pay to the said defendant firm
Of Welch & Company, ten per cent of
the amount Of each of their several
subscriptions as required by said pros
pectus, and that such several subscrip-
tionS made to said capital stock OF
said defendant company by your pc
titioners and others, amounted to
81 900, 900;
That upon making said several sub
scriptiOns, and paying thereon the said
ten per cent in cash as aforesaid. your
petitioners, upon the Incorporation OF
said defendant company, became mem
bers thereof and entitled as such to a
delivery to them, severally of the
shares of stock so by them each sever
ally subscribed;
That your petitioners further are in
formed that said ten per cent of said
stock so by them severally paid, was
received and is now held by said firm
of Welch & Company, with full knowl-
edge, consent, authority and acquies-
cence OF said defendants, J. b. Ather-
ton, E. d. Tenney, w. A. Bowen and
B. F. Dillingham;;
That your petitioners are informed
and believe it to be true that said in