The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1900-04-03
MAI. auraR1e,s AMswRR.

DaccO company 6ga1nSb the .RCk we'll
Company. IL is a document of greet
length. It is summarized by Dol.
Dds az follows:
Major G lthrie reserves the right Of
exception TO the bill OF complaint and
to deny the jurisdiction of Judge
SImonton, who granted the restraining
order to prevent Guthrie from apply
ing to the legislature to revoke the
charter of Blackwell's DIrham To
6acco Company. Hs says the latter is
a North Carolina corporation, and
gives q copy of the act; that its plant
is entirely in N Irth Carolina: that it is
an ~inhabltant Of the Eastern North
Carolina district if a corporation can
be said to be an inhabitans or citlz IN in
the proper legal sense of such terms,
and that he is also a citizsn and resi-
dent of d lrham; that Arents and as
socrates are legal holders OF stock in
C~hecompany that all the c9mplainants
are members of the American Tobacco
Company that they are not the abgO
lutte owners Of the stock OF the Black
we'll Company IN their " right, but
hold it in trust for the American To
Oacco Company that the latter is the
real party in interest, and brou Sht the
suit; that under the charter of the
American Tomacco Company, obtained
Ia New Jersey q copy Of which Is
hlled) that company has no power t,
purchase or hold the stock Of any other
corporation, and that its purchase Of
the Blackwell Company stock is ultra
Uires aud an evasion and violation OF
the charter; that all the compliments
save : B. Cobb and w. w Fuller are
oficeIs OF the Black well CJmPany, and
hat uoder a bylaw Of the latter no
person is eligible to any Office in said
corporation unless he is a sEockholder F.;
that In T bruary or March the Amerl-
a Tobacco Company transferred or
assigned a sum ,lent NUMBER OF shares
OF the Black we'll stock 20 the complain
ants for the purpose of bringing this
suit; that Guthrie is the absolute o WneF
of a a Of stock in-the Blackwell
Company that the American Tobacco
Company claims to holo 159, 800 snarts;
that Ihs American Tobacco Company
Is noE a party by name to this suI and
has made no valid and binding bid for
the BlackW we'll properly, good will an0
trade mark; that the American To
Oacco Company, which claims that il
paid 90 800 600 for the IS per cent. Of
the capital SUCK OF the Blackwell Com
pany, really paid S. 900 600 tor 1t; that
the American Tobacco Company can
DOT "a the legal holder Of q msjoriSy OF
n Blackwell Company dlrr CO a sale
and conveyance OF the entire Black well
Comp any, nor would sucn be valid in
law or equity tha5 Judge SImOnton
has no jurIsdIc Ion TO rendeT the Ameri
can Tobacco Company the aid il seeks,
because the Black we'll Company is a
North Carolina corporation, is doing
the business authorized IN ats charter
and has not forfeited the latter; that
the charter has not expired; judge
cannot decree q dissolution of the
Blackwell Company or a sale of its
property by a receiver because the
North Carolina Law makes no provis-
ION for any euch thing, the Legislature
alone having such power; that the gu
preme Court Col 8 rues these statutory
provisions as suptrsediDg all others;
that only the L ,glslature cau repeal the
cnarter chat the Blackwell Company
has had NJ meeting to consider a sale
to the American Tobacco Company and
no resolution to that effect has been of.
tered (; that J s. Carr and 8 Fl Austin
solo 95 per cent. o. the Black we'll Com
psny stock TO the y aIon TOBACCO Com.
pany, then organlz d as an opponent
OF the American Tcbacco Company, at
$17 a share; that soon after the Union
Company sold out for Sc 0O0, 900 TO the
American Tobacco Company its hold
Ings in the Blackwell Company that
the American Company is unable to &C
quire a clearer right to the corporate
property Of the Blackwell Company
and is not entitled 10 sympathy from
any body and more particularly ought
not to be allowed to go before Judge
SImonton sitting in equity and obtain
the relief" asked for, because the
American Company has no legal right
to buy the Back veil Company stock;
that the American Company, an un-
lawful monopoly, bought the stock of
the B ack we'll Company unlawfully;
that the American Cumpany has not
bought this suiE with clean hands, but
to procure by the aid of the court. with
upseemlv haste. an order for the sale