The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-24

them on account of the Butte & Boston
mining company. or that said defendant
directors are large holders Of the capt.
tai STOCK OF the Butte & Boston Console
dated Mining company.
They deny that the assessments
which any of the defendants as stock
holders OF the Butte Il Boston Console
dated Mining company were to pay
were not actually paid in money into the
treasury of said company. or that their
investment in the stock OF the Butte Il.
Boston consolidated Mining company 9
not profitable. or that the New York
company is organized for The purpose of
acquiring the property, business or
stock OF the Butte & Boston CONSOLE
dated Mining company or of operating
Its business or property. or that il IS
the intention of the defendant direct ors
to have the New York company pur-
chase the capital stock of said
or to take over its property and business.
or to assume its liabilities. or to operate
its property and business in connection
with h a Of the Montana company.
Further answering. the defendants al
lege: That the defendant. Boston &
Montana Consolidated Copper and Sill
yer Mining company of Montana, has a
capital stock consisting of $780, 900 shares
of the par value Of $25 per share. and
was organized and incorporated under
the laws of the territory OF Montana. in
June. 1887. 1t has i'm all 1.S77 stockhold-
ers, all Of whom, with the exception of
eight. reside in the Eastern states or
abroad; there being but eight of said
stockholders who reside i'm the state of
Montana. including the plaintiff, Jonn
MacGinniss. The said eight Montana
stockholders own 246 shares out of the
total of $50, 900 shares issued by the aid
Montana company. All of the financial
business of the said Montana
Is carried on in the Eastern states.
While its mining operations have been
conducted in the state of Montana, the
only market for It's product is in the
states of New York and Massachusetts,,
and 1T is there that its financial ope-
rations are necessarily conducted. The
directors Of said company have always
resided in the states of New York and
Massachusetts, n it is impossible for
1t to properly manage and conduct its
business in the state of Montana.
By reason of the residence of most of
the stockholders Of the said Montana
company outside of the state of Mon
II is practically impossible for them
to attend meetings of ~tockholde in
said state, and 1t is likewise both in
convenient and practically impossible
for its directors to hold meetings in the
state OF Montana. The stock of the said
company has for many years
been the subject of extensive dealings in
Boston and New York and sales thereof
made daily, which has necessitated
the transfer of the stock so sold to the
on the books of the Montana
company. 1t is the inconvenience at
such transfers. by reasons of
the provisions of the Montana statutes
requiring the stock ledger and transfer |
books of a Montana corporation to be
kept within said state, are so great as
to greatly hamper. harass and annoy
and occasion great pecuniary loss to
stockholders as may have occa- !
sion to sell or transfer the stock owned
or held by them in said Montana COM |
pany.
Fol a long time the directors and
of the Montana company
a v considered the a~dvisability of re-
Incorporating the said Montana COM
pany under the laws of an Eastern state, |
a large majority of the stockhold- |
es. being the owners of more than |
three-fourths of the capital stock of |
said Montana company. requested the
said directors to institute such action as
would result in such Incorporation. IT
vas determined to reincorporate under
The laws of the state of New York. said
avs being deemed more favorable to
he stockholders of said Montana COM
thdl lIOSt Vi any OlneT S1aIe. |
rhereupon, on or about the LIST day of
April. 1898, the defendant, Boston. q
Consolidated Copper and Sill
1er Mining company of New York, was
organized and incorporated under
he laws of the state of New York; and
hereafter the directors of the Montana
company, in good faith and acting in
he interests of all the stockholders of
he Montana company, executed and de-
IN tho Maui NnrE ,nxy N
Iced and transfer of all of it's property.
Pursuant to the notice of the stock
folders meeting a meeting of said
tockholders was organized at the Office
II the Montana company at the city of
Suite. Mont, on the 9th day of June
S9S. at IL o'clock in the forenoon of
aid day, at which meeting the stock
representing 131. 236 shares, in
luding the plaintiffs herein. and the
everal stockholders who had thereto
ore consented to the execution of the
deed and and
one of the stockholders of the said
company appearing at said
Meeting. either in person or by proxy.
no stakeholder or stockholders
Their than the plaintiffs herein having in
ny way objected to the conveyance
or to the taking of action
nth respect to the matters set forth in
aid notice of meeting.
The aforesaid transfer from the Mon
company to the New York COM
any has been of great and substantial
enefit to the stockholders of the said
fontana company.
On the 9th day of April, 1888, the stock
I the Montana company was quoted
pom the exchanges at s175 per share. At
lime of the commencement of this
the said stock was quoted on the
at $212 per share, a sum
realty exceeding the highest quotations
'hich said stock had ever cache in
history of said Montana company.
the commencement of this action.
in consequence thereof. the price of
aid stock has fallen to sl95 per share.
Wherefore the said defendants allege
hat the best interests OF all of the
stockholders OF the Montana company
be subserved by such action as
be taken by its stockholders under
he authority of the aforesaid provis-
Of the statutes of Montana ut the