The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1900-03-15
A BIG SUIT FILED
John r. EIdred, of Newport, R. l., De-
mands Heavy Damages From the
American Mining Company.
CLAIMS his STOCK WAS TAKEN

Attorney Henry J. Hastings Piles the Larg-
est Suit Ever Brought in Kenosha County
Big Mining Company Had Made an
Effort to Freeze Out Small stakeholder
and the Latter Piles Suit for 500, 900,
Which is Due From Dividends.
The largest suit ever filed in Keno
sha county was filed this morning
with the Clerk of the Circuit Court,
when Henry ]. Hastings, representing
John r. E1dred, of Newport, Rhode
Island, filed suit against the Ameri-
can Mining Company, a corporation
under the laws of the State of Wiscon-
sin, demanding the sum of 100000.
The plaintiff in the action is one of
the wea1thiest capitalists IN the United
States, and, according to the state
ments of his attorney, the suit is the
result of the corporation attempting to
freeze him out of the combine.
The suit has been pending for some
time but the managers of the company
were foxy and recently removed the
Offices of the concern from Milwaukee
to Chicago in order to prevent the ser
vice of the papers in the suit. This
fact, however, did not keep the suit
from being pushed, and the papers
have been made out for several weeks.
They were sent to Milwaukee for
service but were sent back with the
answer that no such parties could be
found. The grand coup came a short
time ago, when Charles N. Langdon,
the president of the big mining COM
pany, came to Kenosha on business
trip. His presence in the city was
discovered by attorney Hastings and
he was kept in the city until the papers
had been served upon him.
The causes for action in the suit are
four. In September, 1896, E1dred
claims to have been the owner of 49,
300 shares of stock in the American
Mining company, having value of 81
each. He further alleges that he re-
ceived the certificates of stock from
the company and turned the same. over
to the general office of the company
for safe keeping. During the next
| few months the company did an i'm
nense business and the dividends were
large. However no returns were given
for the stock held by the Newport man.
In February, 1897, according to the
complaint, the name of Eldred was
taken from the roll of stockholders and
his stock cancelled. Every effort for
him to obtain any returns from the
company or to take hand IN the
business was without avail and in this
manner the plaintiff alleges that he
lost $25, 900 due him in the way of
dividends up to July, 1899. The non
payment of dividends continued until
he lost another $4,000. At this time,
Nov. p, 1899, he made an effort Is col
1ect the stock and the dividends and in
the suit which was brought he alleges
that he was forced to spend the sum of
$25, 900 in attorney fees and other nee
essary expenses. In January OF the
present year he also alleges that the
company further became indebted to
him on account of money lent to the
sum of $25, 200, bringing the total de-
mand of the suit up to the large sum of
100000. The case is a most interest
ing one and the decision will be one of
great Importance in settling the stand
ing of minor stockholders in large
corporations.
Attorney Henry Hastings was seen,
and when asked in regard to the suit
he said that there was little to be said
beside the facts that were contained in
the complaint filed this morning. He
said that E1dred had simply been a
victim of an attempted freeze-out, and
had brought suit to attempt to recover
the property that he had lost in the
deal.
The American Mining company is
one of the oldest companies of the
kind in the northwest, and they have
under their control some of the most
valuable mines in the United States.
The dividends declared by the company
have been enormous, and the managers
of the company are among the most
wealthy business men in Chicago.
The suit will undoubtedly come to
trial, and probably at the coming term
of the Circuit court.