Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-12-26
Detroit Streetcar System involved
in the Suit,
PARTNERSHIP Is AN ISSUE.
amount Involved Goes Into the
Millions Points In the
Dispute.

New York Dec 26.-Decislon was re-
served by Justice Blanchard In the su.
preme court today in an action brought
by Tom l.. Johnson, against r. r. VIII
son * Co., bankers and brokers. for an
injunction restraining the defendants
from disposing OF the stocks and securi-
ties Of the Detroit Street Railway sys-
TEN pending the trial OF suit for the
dissolution Of an alleged partnership ex-
listing between Johnson and r. r. VII
son x Co. Mr. johnson also asks that
receiver De appointed for the railway.
Inc ORIGIN OF the suit was the pur-
chase In lb9i by the defendants Of the
belIolt street Railway system, after
winch Mr. Johnson became associated
with them IN It's management.
h. I. Wilson & Co. began the pur-
chase OF the concern In the fan Of 1894,
ana atter they had succeeded In so do
ing they brought In Mr.. Johnson az an
associate In January. 1895. He was 10
have one-iifth interest IN the company
OF all stocks purchased or 10 be pur-
chased by r. T. Wilson & Co.. in con-
neotion with the carrying out OF tho
project for the consolidation OF all the
surface railroads In and about Detroit
MT Johnson was also TO have charge Of
the working Of the company at a salary
or $4,000 year r. T. Wilson q co.
were 10 have the management OF the
finances ot the corporation and were 10
form such syndicates and outside ar
rangements with regard to the securi-
ties, as they deemed nt The contract
between Johnson and r. I. Wilson &
Co. was TO terminate within three years
II possible. bat did not 90 terminate.
and was extended from time 10 time
until November last. The reason OF the
failure % close the agreement was tho
formation Of a new company for the
requirement OF the Detroit Street Rail-
way system which was known as the
three-cent fare combination. which was
engineered by the firm Of Pack a Ever
1T who secured "a franchise ON making
a stipulation that they would carry
passengers for a Scent fare. and who
succeeded In acquiring between nifty
and sixty miles Of streets under that
The scheme Of Pack & Everett serl-
ously interfered with the plans lad
down by r. r Wilson & Co., and they
made a settlement with Pack a. Everltt
In 1895 whereby Pack & Eveiitt agreed
10 deposit seventy per cent worth Of
stock In the three-Cent fare company
and were 20 receive In return certain
stocks in a new company 10 De organ
zed under the laws Of Michigan. Pack
4 Everitt. however did not deposit the
'ull amount Of seventy per cent OF the
stock In the three-cent fare company
and the question of a balance was made
a basis Of negotiations as was also the
AMOUNT r. T. Wilson g. Co.. should pay
'or the stock already deposited. These
regulations continued until the mid
lie Of November last and on NOYem-
Der gath an arrangement was made be-
Ween r. T. Wilson A. Co., and Pack e
lyeritt Mr.. Johnson claims that he,
30 November I'm, orally gave notice
hat DE wanted his share OF the securl-
les and that he would pay his one-hfth
.hare ~ the outlay by Wilson g. Co., In
heir purchase. the amount expended
being over g. 600 o00
r. r. Wilson g. Co.. deny that john
.on gave any notice that he desired a
dissolution Of the alleged partnership
lrior 10 the making Of the Pack & Ever
q agreement. They admit that, IN the
beginning Of December, he did give a
written notice demanding That the part
lership be dissolved
Wilson & Co., paid $1,000 900 FOR the
purchase Of the roads acquired by them,
,ut say that Johnson has not yet paid
rs one-hfth of that sum and cannot
therefore, claim one-nfth OF the secure
les. Johnson's reply 20 this il that he
nered 20 pay Il and was ready 10 DO so
Il any time. and that he Is therefore.
Untitled 10 receive the one-ffth OF the
took contemplated in his agreement Of
S95. The injunction asked for by him
alls for the restraining Of the carrying
ut % the Pack & Everitt agreement
ettled on by r. T. Wilson & Co, as
yell as debarrlng the transfer OF the Sc
urities held by the defendants.
Justice Blanchard win not render his
ecision until he has received briefs
rom counsel on both sides on the law OF
he case.