The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-30

! of q movement to hasten his retirement
| and Incidentally 10 prevent the conuoi OF
| the stock poons II ON passing INTO Inc hands
| OF the enemy, tae Mississippi Valley peo-
pie tiieu the injunction SUIT early Ill tne day.
Air. Seaman DICTATED letters anu teIes. ANS
I from the hiIssissippi saney Trust pu.uins
| All day, working actively Ior MS sue VI me
Lesvtiallons. uut Deyono auini.i4ns Inat no
Was out, wouI0 uneI no stateiLeA..
1t Is aIleeeu Lnal air. O.ui,.n IS Largely ln-
teTesteu ia the Cdaitiie AIuSL CuiAipdny
as a suaTehu4uei: mat he anu All. "aue,
a dIevlor VI lne Wiesiiis Cvinpany, pilur io
Apill "a, lsJz, acu.g oy themselves and
through the MeIcant.ie Company, maue an
asrermsnt with a party, or parties un-
nnuwn to The MIssisslppi Valley Company
TO recommend TO the shareholders VI the
Wlssins Company 10 Sell their shares to
the Mercantile Company tor $oJv a snare.
provided mAJoriy OF The Nigglns sIock
cUuo Ds acquired at that rate.
McrcaMLaae lrust's Commission.
1t IL averIed that ecuIi.n aLo Waue, by
their a4Ieged actions In the premises. were
unmInuIu Oh Iner uuties direc.ors Of
tus Nisgins COMPANY, anu their dulles and
Obligations 10 the nal enoiuers, but were
moved by their interest IN the Mercantile
Company ana by interests IN otner enter
pfises not related 10 the Virgins Company.
and were moved to recommend the SAFE of
the Virgins stock BECAUSE of a commission
of 211 per cent to b pad to the Mercantile
Company by the party or parties for whom
the company proposed to purchase.
1t is alleged thai on April "A, 1902. the
Mercantile Company made an offer in writ
Ing to sharehoidess of the Wiggins Com
pany to purchase 1 majority OF the shares,
the Mercantile Company not to be obliged to
accept any stock unless the owners OF a
majority agreed to sell.
1t is charged that the Mercantile Com
pany. Scuilin and Wade. had not incurred
any obligation to the party or parties for
whom they are acting. to deliver any Wig
gins stock to them, unless the Mercantile
Company acquired q. majority at $500 n
share. '.S o. Nt ,iN'f#
It is averred that Scullin and Wade did
not consult the vice president or secretary
Of the Virgins Company, nor act under any
direction Of the Board Of Directors, but
on their own account; that Alonzo c.
Church, vice president Of the Virgins
Company on being advised of the agree
ment on April "a, protested that the shares
were of greater value, and that purchasers
for a larger amount could be had.
Mississippi Valley Raises Bid.
The Mississippi Valley Company. it is
stated. on being advised by Church. Scan
April rs to pay for ali Virgins stock. $3.50
a share, and IL a majority of the stock
could be secured, an additional $1Oo share.
n writing
the Mercantile Company, it is alleged. had
not secured proposals from a majority OF
the stockholders to sell. Wade and Sc,,'! n
knew Of the better Offer and tried to aou-
ceal It from the shareholders. 1t is alleged.
1t is averred that the Mercantile Company
has paid to some shareholders 500 share.
Counter Suit Is Filed.
The Mississippi Valley Trust Company
Instituted an injunction proceeding in the
Circuit Court yesterday morning to restrain
the transfer Of certain shares Of stock OF
the Virgins Ferry Company to the Mer-
camille Trust Company, and to compel the
Mercantile Trust Company to deliver the
certificates Of other stock to the Mississippi
Valley Company.
The suit is directed against the Virgins
Ferry Company John Scullin. its president;
Festus ]. Wade, president Of the Mercantils
Trust Company, and others. 1t was stated
that a meeting of the Board OF Directors
of the Virgins Company had been called, to
be held at the company's office In East St
Louis, at II a. m. yesterday. for the pur-
pose of transferring stock to the Mercan-
tile Company. A temporary restraining or
der was issued by Judge Tally shortly after
he opened court at 10 o'clock P. c. Scan
Ian, secretary Of the Virgins Company. was
served with notice by Deputy Sheriff A. H
Watson in the office Of the company In the
Security building about 1o:45. Judge Tally
also issued an order requiring the defend
ants to show cause next Monday why an
Injunction should not be issued.
The Mississippi Valley Company. It Is
stated, has bought and agreed to buy q
large number of shares. and believes it can
secure a majority of the stock. Among
other shares which 1t bought. 1t Is stated,
are ao3 shares in the name Of John B.
woestman. The latter. 1t is averred. agreed
to sell to the Mercantile Company. not
knowing of the better offer. and on April
g before the Mercantile Company had ac-
cepted his proposition. he withdrew 1t. Mrs.
Mary Archer O'Reilly. who holds fifteen
shares alsd. on April q. withdrew her offer
to sell to the Mercantile Company. and sold
to the Mississippi Valley Company. it is
stated. She and Woestman. the petition
says, requested the Mercantile Company to
deliver their stock to the Mississippi Valley
Company.
women's Holdings Important.
The petition sets forth that Mrs. Adelaide
A. Barnett. who holds Isl shares. and Mrs
Mary W. Foster. who holds 267 shares.
agreed. on April 2S. to sell to the Missisap-
pi Valley Company, but were induced to sell
to the Mercantile Company. With the stock
of Mrs. Barnett and Mrs. Foster the Missas-
sippi Valley Company. 1t is stated. will ac-
quire more than one-half Of the. Virgins
stock.
The court IL asked to restrain the transfer
Of the woestman. O'Reily. Barnett and
Foster stock to the Mercantile Company or
to any one. other than the Mississippi VAL
ley Company, and to compel the Mercantile
Company to deliver to the Mississippi VAL
ley Company the certificates Of the Barnett
and Foster stock.
stock Brokers Are Busy.
Stock brokers are exerting themselves to
purchase any stray lots OF. the stock
Of the Virgins Company that nay be iioat-
ing around IN the hope of maktng individual