Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1902-12-26
FRAUD Is SHOWN.
Supreme Courts Opinion in
Iron City Case.


Iron City Case.
Full Text of the 0pioniOn as Handed
d0wn-A document Containing some
Very Hot Shots sent up from
Charleston Court is Sustain.
ed In Most Important Case.
The decision of the Court of APP
peals in the case OF the Iron City
Oil and Gas Company or as 1t is
styled James c. Frazer ct al. Plain
tiffs and Appellees.vs David ) Brew
er, ct al, Defendants has reached
here. This case is of great interest
to people of this county. They are
well acquainted with the facts in
the case which are reviewed by the
court in the following syllabus and
opinion. The opinion is by Dent
and it is eoneurred in by the other
members of the court. 1t is as fol
lows:
SYLLABUS.
|. II on bill, answers, affidavits
and exhibits, the facts, circum-
stances and legal Prescriptions are
strongly IN favor of plaintiffs equity
and of defendants unfairness and
duplicity, it is not error for the cir
cult court to continue temporary
injunction and receiyership for the
purpose of preserving the litigated
property, until the final hearing of
the cause.
This is an appeal of David L.
Brewer and others from vacation
order made by the Hon. John w.
Mason, Judge of the Circuit Court
of Monongalia County, ON the 18th
day OF April, 1902, oyerruling the
motion of the appellants to dissolve
the temporary injunction granted
and discharge the receiver appoint
ed, in a certain ehaneery suit in
said court pending wherein James
G. Frazer and others were plaintiffs
and appellants were defendants.
The controversy as appears from
the record, between the parties is as
follows:
The plaintiffs together own and
hold in their names for the benefit
of themselves and others, one hun
dred and forty shares of stock of
the Iron City Oil and Gas Company
the plaintiff William Hill owning
thirty eight shares by original pul-
chase; and plaintiff James c. Frazer
holding ninetyone shares, w. K.
Given three shares, Leila j. Frazer
two shares, Bryan Gordon two shares
William Gordon two shares and
Robert E Guy two shares, making
one hundred and two shares which |
were acquired in the following man
ner:
On the 18th day of February,
1902, Charles +. Boehler and Leo.
pold Sigwart entered into contract
in writing with James c. Frazier,
trustee, and e. M. Grant, manager
of the Union Gas and Water Co, by |
which among other things, the said
parties of the first part agreed TO
deliver to the parties OF the second |
part not less than seventy nor more
than one hundred and two shares of |
stock in the Iron City & Gas Com.
pany at the 21st day of February,
1902. THIS was done on the last |
day named, James G. Frazer paid
the price and held the shares assign
ed to the parties as aforesaid.
James c. Frazer claims that when
this contract was entered into it was
understood and agreed between the
parties thereto, that the whole stock
issue of the Company only amount
ed to one hundred and seventy two
shares, and that by his purchase he
and those represented were to have
full control and management of the
company, with the right to reoigan-
ize the same, and that the directors
and stockholders whose stock he
was purchasing were to drop out and
permit new directors to be appoint
ed, nominated by said Frazer, and
thus the affairs OF the company we're
to pass to the control of the plant
ifs as representing one hundred and
forty out of one hundred and seven
ty-two shares of stock
On the Sth day of March stock
holders meeting was called for
this purpose, as said Frazer sup
posed, when to his surprise the very
stockholders and directors whose
stock he had purchased In good
faith turned up with one hundred
and seventy eight new shares of
stock issued by them on tina Goth
day of February, at the par value of
500. 90, took possession of the meet.
ing and proceeded TO organize the
company to SUIT themselves.
Whereupon the plaintiffs with
drew with their one hundred and
forty shares OF stoca and effected an
and made demand for
the books aud assets OF the compa
NY. Being refused this. they filed
bill in chancery to enforce specific
performance of the contract had
with Beehler and Slgwart, and to +;
have the one hundred and seventy
eight shares OF stock cancelled as {
issued in fraud OF their rights. They
also had temporary injunction is {
sued to prevent the defendants from
;ou,sru q, ~ her atnoL a,l . - |