The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-24
ITS RIGHT TO TRANSFER
Another of Those Big Mining
Suits Il On.
HEARING AN INJUNCTION
plaintiffs Seek to Prevent h Boston q
Montana From Transferring Its Prop
erty to b Company Incorporated
Under the Laws OF New York.

The hearing In the Injunction pro-
ceedings which stopped short the meet
ing of the stockholders OF the Boston
Il Montana company called for June &
last In this city. took place yesterday
before Judge Clancy. The plaintiffs are
James Forester and John McGinnis.
two OF the stockholders of the COM
pany 1t was decided by the directors
to reincorporate the company under
the laws of the state OF New York. The
stockholders meeting had been called
In Butte for the purpose of transferring
the property Of the Montana corpora
ton to the New York corporation. The
two ~stockholders who are plaintiffs in
the action objected. secured a tempor-
arr Injunction. which prevented the
meetlng. Judge Clancy yesterday
heard the case as presented for a per-
manent injunction, the appointment of
a receiver and such other relief as the
court might deem props The case is
a Kind of side issue in the great game
OF chess between the Boston & Mon
tana and the Montana Ore Purchasing
companies.
The plaintiffs claim that they own
100 shares each out of the $50. 900 shares
OF STOCK OF the Boston & Montana com
parry; that the company owns property
valued at $50. 900. 900: that during 1897
1t paid dividends of $12 per share.
amounting In the aggregate to 81. SOO.-
900. They claim that without notice to
the stockholders the Montana corpor-
alton decided to the New York corpor-
alton all its property. That on April
., 1898, notices were sent out that the
nlIanfnrG had aaf64 a.
pany under the laws of the state Of
New York. The plaintiffs deny that
this New York company is identified
with the Montana company, but that
IT is essentially different. The plain
tins want the deed of conveyance can
celed and the New York corporation
prevented from taking the property.
The answer of the defendants was
submitted yesterday morning before
the taking of testimony began. They
ADMIT that shares of the capital stock
or the Montana company are entered
upon the books of said in the
names of the plaintiffs, but thev al
lege on information inc belief tha sail
stock belongs to the Montana Ore Pur-
chasing company or to F. Augustus
Heinze, the president and principal
stakeholder of said Montana Ore Pur- |
chasing company.
They deny that the rights, privileges.
duties, obligations and liabilities of the
New York company and it's stockhold-
ers are different from those of the Mon
tana company and its stockholders, or
that the laws of New York impose dif-
ferent conditions upon said New York
company and it's stockholders frcm
those imposed, upon the Montana COM |
pany and its stockholders by the laws
of Montana.
They admit that on the 9Th day of
April, 1895. the directors of the Mem
tana company executed in the .Iame
of said company a deed of conveyance
to the New York company, conveying
unto 1t all the property, franchises and
assets of the aid Montana
the New York company agreeing TO
deliver to the Montana company its
entire capital stock. in consideration
for said transfer, or at the option of
any of the stockholders of the Montana
company to pay them in exchange for
their shares in the Montana
the fair value of said shares: and for a
further consideration said New York
company assumed and agreed to pay
all mortgages, debts. liabilities, notes,
promises. bills payable, contracts and
obligations of every name aul nature
owing or incurred by the Montana
company.
They deny that said transfer was
wrongful or unlawful or without right
"a vi tlAo lhC CoIStl1 4
and wish Of the plaintiffs and other
in said Montana company;
on the contrary thereof, they al
lege that said transfer and conveyance
was made with the consent and at the
of stockholders of said Mon
tana company owning upward of one
hundred and ~thirty-one thousand
shares of the capital stock of said Mon
tana company.
They admit that the New York
company accepted val deed
They deny that in the event that two
thirds of the capital stock of the Mon
lana company shall be voted in favor
Of the proposition stated in the notices
in the complaint, said New
York company will mortgage or other
incumber the property of said
company. They admit that
some of the directors OF the Montana
are stockholders in the Butte
& Boston Consolidated Mining COM
pany, and that the said company ac-
luired the property and assets Of the
& Boston Mining company. a
corporation, which had there
tofore become insolvent.
They deny that the business Of the
& Boston Consolidated Mining
company has not been and is not pros
porous, or hat any of the defendant d.
were active in forming the Butte
Z Boston Consolidated Mining COM
and promoting the formation
.herof. with the purpose to secure them
or the management. manipulation
,r sale of its stock to other parties
against said obligations incurred Ly
E,