New-York tribune., 1900-12-27
R. T. WILSON & co. SUED.
TOM L. JOHNSON BRINGS ACTION To
DISSOLVE DETROIT STREET RAIL
WAY AGREEMENT.

Decision was reserved BY Justice Blanchard. r.
the Supreme Court. yesterday in an action b-oughs
by Tom L Johnson against r. T. Wilson & Co.
bankers and brokers' for Injunction restraining
the defendants from disposing Of the stocks and
securities Of the Detroit Street Railroad system.
pending the trial OF suit for the dissolution OF
alleged partnership existing between Johnson and
R. T Wilson Co. Mr. Johnson also asks that
receiver be appointed for the railroad The PLAINTIFF
Is represented by s. B. Clarke. Ex-Justics william
n Cohen and Butler. Notman Joline & Myndsrss
are attorneys for the defendants.
The origin OF the suit the purchase IN 1sss
By the defendants Of the Detroit Street Railroad
system. after which Mr. Johnson became asso-
ciated with them IN its management. He TO
have one-hfth interest IN the company OF an
stocks purchased 20 be purchased by r. T
Wilson Co. in connection with the carrying out
Of the project for the consolidation Of all the sur
face railroads in and about Detroit He was also
to have charge OF the working o. the different
roads acquired. and was to act the president %
the company at salary OF $4,000 year.
R. T. Wilson & Co. were TO have the management
Of the financial affairs OF the corporation and
70 form such syndicates and outside arrangements
with regard to the securities as they deemed 1T
The contract between johnson ard R. T. Wilson
& Co. to terminate within three years. II pos
sible. but it extended from time 20 time until
November last. The failure TO close the agreement
was the formation Of a new company for ths
requirement OF the Detroit Street Railroad system,
which known the three cent fare. or eight
tickets for quarter combination. which was
gineered BY the firm Of Pack & Everttt- They
obtained a franchise and acquired between dfry
and sixty miles OF streets under It.
The scheme OF Pack & Everttt interfered with tha
plans Of r 7. Wilson & Co. A settlement was
reached in 1895 whereby Pack & Everirt agreed To
deposit 70 per cent OF stock the three-eent faro
company. and 70 receive in return certzin
stocks in company TO be organized
Pack & Everftt did not deposit the fun anaouns
Of 70 per cent OF the stocks. but November ~
azf rze ada her arr%
r T. Wilson & Co
Mr. Johnson alleges that he on November II.
orally gave notice that he wanted his share OF tbs
securities and that he would his one-ffth share
OF the outlay by Wilson & Co IN their purchase
He alleges that the amount OF his interest tn ths
profits or losses OF the enterprise the nature
OF q partnership agreement and that he. for thar
reason can apply for dissolution Of the alleged
partnership whenever he chooses. and that
making such an application he IS entitled 70
Injunction restraining the defendants from trans
ferring or dsposing OF the securities and for the
appointment of i receiver to take charge OF tbs
corporation pending adjudication BY the court
Mr.. Cohen said that R. T. Wilson & Co. contend
that the agreement with Mr.. johnson not IA
the nature OF ordinary partnership. but was an
agreement for tbs carrying out Of SPECIAL enter
prise fog special pnFp9S5e a51 [nat o19 TIqer ne
demand for his securities until the deal had been
substantially closed That could not De done until
summated. R. T Wilson & Co denied that Mr.
5Sanf9n naq rST gwen a any ny ns s. t5s PACK
Everitt agreement They admitted that in the be
Demanding that the partnership be dissolved
Of hs me ]1r9n csrrSn 6 aAeG a. tbs Pae Evert agrss
u1ent settled on by R T Wilson & Co. as well as
.6a5EDg the anstST oSe9 Of a8 thS Scuf Wiso6 hs6 @
had offered to gTe an una9T.akng s II To any - iSf
sustain BY the carrying q the Pack Everits 5t
srfsi6 Until b has TgesSsS brifs from counsel
on both sides the law OF the case