The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1898-12-14
THE NA|ALUA SUGAR CASE
MOTION FOR A BOND FILED BY
PLANTATION.
Affidavit by j. B. Atherton-Denies
Colonel John L. Soper's Author
ity.

Three papers were filed in the Wal
alua Sugar Company's matter today.
One is demurrer to the bills for spe-
cific performance, as follows:
First-Misjoin of parties plain
tiff; the rights of each of the COM
plainants being separate and individ-
ual.
Second-Misjoinde of parties de-
fendant, to-wit: All of the defendants
other than the Waialua Agricultural
Company.
Third-The non-joinder of necessa-
ry parties defendant, to-wit: The par
ties to whom it is alleged defendant,
the Waialua Agricultural Company,
is about to issue the shares of stock
in question.
Fourth-That plaintiffs have a plain
and adequate remedy at law.
Fifth-That the bill does not state
such facts as would entitle the COM
plainants to the relief prayed for or
any relief in court of equity.
In connection with the same defend
ants have filed a motion to require de-
PENDANTS to give a bond of indemnity
conditioned for the payment of all
cur, or to which it may be subject in
consequence of the injunction. With
the motion is an affidavit of J. B. Ath-
erton, president of the Waialua Agri-
cultural Company, in which occurs the
following statement:
THAT the number of shares of the
capital stock of said company is $4,000
representing the sum of $3,50O,0O0;
that the number of shares involved in
said suit is at most 10000; that by
the injunction issued in said suit the
defendant is prohibited and enjoined
from issuing, transferring or deliver
| ing any of the shares of stock of said
| company to any person or persons
other than the complainants in said
suit, as atfant is informed and be-
! lieves.
That the issuing and continuance
of said injunction is likely to cause
great and irreparable injury to said
corporation; that said corporation
will thereby be deprived of the power
of collecting and eXpending its cash
capital, to-wit, $2,000,000, and the de.
velopments OF its plantation and
mills will be thereby prevented. and
total failure of its operations would
| be likely to ensue; that said corpora
tion has since the date of its organi-
zation up to the present time entered
upon actual contracts for the pur-
chase of steam pumps, steam plows
cars and other supplies and material
| to the amount of $315,000: that it will
be necessary for said company within
a short period of time to make con.
| tracts to the amount of 100000, OF
thereabouts, for mill and boiling
works for said plantations that saiC
plantation is now subject to an expen
diture of from $4,000 to 100000 eacl
month for its ordinary running ex,
penses; that the development of the
plantation of said company would re
quire within a period of about two
years from the date of its organiza
ton, the outlay and expenditure OF
ITS entire cash capital, to-wit $4,000.
900; that the only method the com
pany has for meeting it's said obliga
tions and for proceeding with the de
velopment of its plantation is by tn,
assessment of the shares of its capi
tai stock up to the par value of tn,
same; that it is necessary that it,
shares should be issued in order t.
enable it to collect such assessments
that said corporation has never ac
cepted the complainants offer to sub
scribe for shares, nor has it authoriz
ed any person to take the subscrip
tlons of the complainants for it
shares"