The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1899-11-25
DILLINGHAM; PAYS COL. sOPER
$65, 900.
The San Francisco Subscribers Get
Their Stock Without Further Litiga-
tion.

The litigation of Col. John II. Soper
f.. S. Valentine and the so-called San
Francisco subscribers to Waialua stock
against b. +. Dillingham;, has been set
tied. A decree has been prepared dis
missing all of the thirty-three suits.
The settlement of the litigation is a
compromise. BY Judge Perry's deCi-
sion the San Francisco subscribers were
awarded the million dollars worth Of
stock they subscribed for, and Col.
Soper was awarded damages for COM
missions under his contract with Dill
lingham, amounting to over 800 900.
BY the settlement that has just been
made Col. Soper accepts $4,000 in cash
from Dillingham; in satisfaction of the
damages awarded him. b. F. Dilling-
ham foregoes his right to appeal from
Judge Perry's decision, and the San
Francisco subscribers get their million
dollars worth of stock without further
litigation.
The document setting forth the terms
of compromise is in the form of a pro-
posal of settlement by Kinney, Ballou
q McClanahan to b. f. Dillingham;. 1t
was submitted to and approved by +.
NJ. Hatch attorney for b. +. Dilling-
ham, by Thurston & Carter for Col.
Soper and by w. r. Castle for the Wal
alua Agricultural Company.
The compromise however is between
,
Valentine and the San Francisco sub
scribers on the other. The Waalua
Agricultural Company though made a
party defendant in the suits, was not
/ party to the dispute out of which
they originated, and was only affected
| by the decision of the court declaring
that the million dollars of stock sub
scribed by the San Francisco subscrib
| ers should be delivered to them.
The issue of an additional million dol
| lars of stock authorized at the special
meeting of the Waialua stockholders
early in the month has nothing to CO
with the compromise, except that it was
authorized in aid of a final settlement
of the then pending litigation. 1t has
not been issued and it's issue is still in
the hands of the directors who will not
/ issue it until they are satisfied that the
litigation is ended.
The payment of $65, 900 was made yes
! terday, and was made by DILLINGHAM;
| to SOper, and not any part of it by the
| Waialua Agricultural Company. The
| million dollars of stock the San Fran
cisco subscribers will get is a part of
| the original capitalization of SO, 500, 900
| and is not any new issue. The sole and
| only new issue is that authorized al
the special meeting three weeks ago
which as stated before has not yet beer
| issued.
B. f. Dillingham; said in relation tc
this compromise that he had made II
! solely in the interests of the company
| and the 900 and odd stockholders, He
| believed that on appeal a different
| decision would be rendered. But ar
| appeal involved the continuation of the
! litigation and that involved delay in the
| development of the plantation and con-
sequent loss to stockholders.
The costs of court will be paid by
| Dillingham;. These however will moi
amount to a large sum, as each party
paid the expenses of its own deposi.
| tiOns.
The trial of the one case which was
tried lasted several weeks. 1t was
| conducted on behalf of the complain.
ants by Kinney, Ballou and McClana,
han, the attorneys for the San Francis
co subscribers though not the attorneys
of record for Col Soper,