davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
CONCLUDED FROM FIRST PAGE,

CONCLUDED FROM FIRST PAGE)
Germ was not organized for the benefit Of
the subscribers alone, but for the public.
ton as follows:
I'm order to make cur meaning plain to
those who are not lawyers, we have avoided
legal phrases. and for the same reason we
have refrained from a citation OF legal
authorities. although there is abundant le-
gal authority In support OF our conclusions.
1T may throw some light on the charac-
ter or the company TO recall the history of
its organization 1t was formed In response
to a popular demand resulting from a gem
eral uprising Of the citizens OF INDIANAPOLIS
IN protest against the charges proposed
90 be fixed by the city ordinance, intro
duced when there was but one company
IN the field. and after an attempt to or
ganizs a company had failed. an attempt
which failed for reasons that emphasized
the necessity OF organizing a new company.
so organized that neither the officers nor
the stockholders could wreck 1t or manipu-
late IL for their own profit.
The articles OF association contain sew
eral features not found in ordinary cor
porations.
A PUBLIC CONCERN.
at was formed for the sole benefit OF the
subscribers. This is shown by the lam
guage Of Article 2 of the articles OF asso-
citation, which provides for the furnishing
Of gas. not to the subscribers alone. but
TO the patrons OF the company generally,
and still more clearly by the language Of
the certificates issued to subscribers, which
recite as one OF the considerations the
great and permanent benefit to the entire
community OF the city of Indianapolis
''That the public benefit, and not indi-
vidual pecuniary profit, was the chief object
OF the organization Is still further shown
In Article Z, which provides that after pay
ment To the subscribers OF the amount SUBJ
scribed with 5 per cent interest and all
Indebtedness OF the company, then IL shall
be the duty OF said directors OF said COM
pany TO reduce the price of gas so that the
rams shall thereafter be supplied TO con-
oumers at cost.
'1n ordinary corporations the ultimate
and absolute power of managing its af-
fairs and disposing OF Its property Is vested
In the stockholders. But In the organization
OF the Consumers Gas Trust Company an
unusual feature Is introduced, by which,
In order TO prevent the subscribers them
selves from diverting the corporation from
public TO private benefit, and 10 insure
against danger OF schemers and specu-
lators getting control OF n majority OF the
stock apd using IL for their own profit. IL is
provided Gin Art. % that the entire capital
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13

equally divided between the partners, but
it was further agreed that Elliott should
defray his own travelling expenses when
buying or selling the timber. The agree
ment was to continue in force at Barrett's
option. The company was organized under
the name Of the Advance Veneer and Lum-
Der Company.
Barrett alleges that he frequently demand
ed reports of the condition and financial
standing of the company OF Elliott, but
that Elliott has at all times refused to give
any reports. 1t is further charged that
Elliott converted large sums of the firms
money to his own use. Barrett alleges
that the company is wholly insolvent and
asks that a receiver be appointed.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13

He Does Not Desire to Continue in
Business with Elton II. Elliott.

Suit was brought In the Superior Court
yesterday by Cyrus c. Barrett against
Elton b. Elliott asking for an accounting.
and also asking that a receiver be appointed
to take charge OF the Advance Veneer and
Lumber Company.
The complaint recitss that Barrett and Ell
lott entered into an agreement on June z,
1902, to form a company for the purpose
OF buying and selling timber and logs. Bar
rett agreed TO furnish the capital for the
company. which was not to exceed 1000.
and Elliott was to attend to the business.
The profits Of the company were to be
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
PROPERTY
William A. Van Buren, Opposed to J..
Harry Roberts Hauling Sand.

William A. Van Buren,, as receiver Of the
National Bond and Realty Company. yes
terday fled suit for injunction in the Su-
perior Court against j.. Harry Roberts to
enjoin him from removing sand from the
street in front of the plaintiffs lots in
Forest Park addition, in the eastern part OF
the city.
Van Buren, alleges that he owns lots in
the addition which face Southeastern ave-
nue. and that as such owner he is entitled
to an easement in one-half of the street.
Roberts has been digging and carrying
way a large amount of the sand out OF
the street, and by reason thereof a large
hole has been made In the street. Van
Buren, claims that his property has been
damaged in the sum of $500. and he asks
that Roberts be restrained before any fur
Their damage is done TO the property.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
HIGHER COURTS RECORD.
SUPREME COURT.

20is2. James Hoop VS.. Thomas Ofleck ct al.
Marion C.. c. Appellees' withdrawal OF appear
ance.
20ls3. William II. Davis VS.. Thomas OhHeck
ct al. Marion c. c. Appellees' withdrawal of
appearance.
20077. Barnard Lerin ct al. VS.. FIorsheim &
Co. ct al. Vigo c. c. Return to certiorari.
APPELLATE COURT.
Minutes
ass. Knickerbocker Ice Company VS.. George
Isay. Laporte s. c.. Appellee's motion and no.
tice TO strike transcript from files and dismiss
appeal. Afhdavits go in support OF motion.
Brief go on motion. Appeilee's motion, notice
and brief () for certiorari and affdavits CD
1900. The Mondarin Meadow Dairy Company
VS.. Henry f. Brudi ct al Allen s. C. Appel
lant's answer TO motion TO dismiss, etc.
4747. Standard OIL Company of Indiana VS..
Joseph Forduk. Porter 8. c. Appellants petit
ton for additional time. Granted ~forty-nve
days from date.
New Suits
500. Jacob Bickel vs. State of Indiana Allen
C. C. Record. Assignment of errors Notice
to prosecuting attorney served. Submitted un-
der Rule 10.
50si. Emma L. Clark VS.. American Camel
Coal Company. Perry c. c. Record. Assign
ment OF errors. Notices CD below.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
OsGoOD ESTATE CASE.


The suit Of Ida Osgood Stanley against
Charles w. Osgood and others to quiet the
title to the $3.50. 900 estate left her by Mason
j. Osgood will probably be given TO Judge
Carter for his decision this evening. The
defense finished it's evidence yesterday and
the plaintiff introduced some witnesses in
rebuttal. The case will be argued to-day.
The most important witness on the stand
yesterday for the defense was Mrs. Charles
Raschig, who adopted a sister of Mrs. STAN
ley about the same time that Mrs. Stanley
was adopted by Osgood. An effort was
made to show by this witness that the
father of Mrs. Stanley never relinQuished
proceedings. If this fact can be estab-
lished the defense will contend that Mrs.
Stanley's residence at the time of the adop-
father Mrs. Raschig said on the stand that
the girls father frequently visited his
daughter while she was with the Osgoods
and before the adoption.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
Origin of the Present Perplexity.

To the Editor Of the indianapolis Journal:
The gas trust situation presents some
remarkable characteristics. The schemers
call themselves the Eureka Company"
That's II, exactly. 1t was an inspiration
out Of their own consciousness. but the
name gives them way. They simply
found something that belonged to others
and with great secrecy proceeded to appro-
pirate 1t. The whole perplexity and con-
fusion has grown out of the name given to
the securities of the contributors who
started the company. This security was
called stock" a clear misnomer, for the
name stock implies something permanent,
while this was to be regularly and finally
e~xtinguished. 1t had no property value ex-
cept as an evidence of indebtedness and
was indisputably so intended. Any other
view involves absurdity. On the theory of
the schemers every payment Of interest and
principal increased the value of their hold
ing, the more that was paid to them the
more they had remaining. 1t was valuable
stock" indeed. But no such property was
ever known or dreamed Of before. In this
instance the theory of value TO the stock
is simply ~unthinkable, for ultimately, when
the Indebtedness was paid, the gas was to
be furnished free-without any profit to
whoever owned 1t. So no value to the
stock was ever provided for. 1t Is now
proposed that these stockholders are to
realize an immense profit from a blank,
Cancelled. piece of paper. Can il be- posi-
BILE that such a scheme can win out? Is 1t
not astonishing that good lawyers can up
hold such doctrine? 1t is possible that a
blunder was made in the original plan MAX
ing the original contributors quasi owners;
but this was only a name. Can 1t be posi-
BILE that the courts can hold that this NOM
inal ownership made the holders owners
when their certificates were not really
stock, the fact being that they really only
loaned money to those who were TO get the
benefit OF the organization? The money
should have been loaned to the city. Per-
haps this was impracticable or would have
been illegal and so the contributors were
made nominal owners that there might be
| some persons TO confer power on the trus-
tees. The plan was probably the best that
could have been adopted and of great wis
dom. All that was necessary was that
some commcn sense and fairness should be
used In constituting and carrying out the
plan. w. w. s.
: indianapolis. Nov. II
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
Sale of Veneer Plant.

The recommendation of Fred A. Greg
DRY, receiver Of the Lilly & Roberts We
neer Company to sell the machinery and
tools of the plant to Albert l.. Wilcox for
$500 was yesterday approved by Judge
Leathers, of the Superior Court, and the
sale was ordered made. The property had
been appraised at $4,160. IS. Gregory was
appointed receiver by Judge feathers a few
months ago in the suit filed by John M.
Lilly against John w. Roberts, asking for
a receiver for the plant.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13

PCAoCuty "a IN = VI 2ldECn D, lJo tAClS
1903. p. lad. but all doubt, II any, has been
removed by that act. which expressly pro-
vides that the articles of association of all
companies organized under the manufacture
ing and mining act wherein the object Of
the company has been stated as embracing
any or all of the purposes in any one of the
a-bove-named subdivisions of the Section
one % of this act, are hereby legalized and
validated and declared to be as effectual as
IL the original statute and all OF its amend
ments had stated that companies might be
formed hereunder for any or all OF the
purposes therein enumerated
In our opinion, as already stated. the
ton are binding alike upon subscribers, di-
rectors and trustees. and, while the COR
poration continues. these trusts cannot be
The subscribers and their assigns, so
long as the corporation continues, can
neither usurp the management nor pervert
the purposes OF the trust. because all the
powers that would otherwise vest in them
they have transferred to the trustees.
1T is more difficult to define accurately
the powers and duties of the directors and
trustees. owing to the peculiar organization
of the company, and 1t may require a ju-
dicial decision TO determine them.
In ordinary corporations the directors,
while they have the management OF the
ordinary business transactions of the cor
poration. cannot. irrespective of any ques-
ton Of good or bad faith. either dissolve it,
wind up its business or do any act that
will necessarily have the effect of defeating
the cardinal purposes of the organization.
Tn power 10 do any OF these things, IL IL
vests anywhere. vests In the stockholders.
and cannot be exercised without their sane
ton. But in the Consumers Gas Trust
Company all the powers reserved 10 the
stockholders OF an ordinary corporation are
vested in the trustees as their representa-
tives.
Moreover, in considering the powers Of
the directors of the Consumers Gas Trust
Company, We must consider not only the
limitations imposed upon directors OF an
ordinary corporation, but the limitations
growing out Of the trust features OF the
corporation and imposed by law In favor
OF the consumers. who are benehciaries of
the trust.
TRUSTEES FOR PEOPLE.
considering the powers OF the trustees
merely IS Representatives Of the stock
The Scranton chronicle., 1903-06-20
Ake xa Arp.

There are not Sufficient mud singers
IN Mississippi. 50 the pen Of an outsider
must be dipped in filth TO besmircn the
character Of one Of the pnresi aud ablest
governors IL has ever been the good
fortune Of Mississippi 10 have This
meddler Is krown by the sppeiia,ion oi
"BilI Arp. and has killing grievance
against Governor Longiro because be
invited President Roosevelt TO attend
the corner stone laying Of The new cap.
itol. Arp. We presume. is on the shady
side OF life. because a man IN the iuli
possession ot his mental faculties would
never risk his reputation on efitieising a
governor OF a state Of the Union for 10
viting the president ol the United States
90 attend the celebration Of such al
important epoch Ia the history Of a
state as that which occurred couple OF
weeks ago At Jackson.
We note where the enemies OF the
governor are endoavofing 10 make cap.
itai Of Arps ridiculous criticism. but a
sai commentary indeed IL Is on the IN.
ielligenee Of a people that can be in.
aaeueed by such pfeposlefous stuff as
Arp wrote about the governor Any
man on the outside II lunalie asylum
knows full we'll that The invitation ex.
tended President Roosevelt aud the
governors of the states of The Union.
was done IN au official capacity aud was
dictated By courtesy. Longino's eon.
duct IN this matter is no new innova
ton. Since The foundation OF the gov
ernmenl sneh invitations have becu
extended TO presidents aud governor.
and what induced Arp to critieise
Longino's course. Is beyond eonpre.
h.nsion. unless II be assumed that eye
has robbed him Of the little brain lac
had
Governor iougino has made an ex-
cellent governor aud the people of
Mississippi are aware of IT. lie Is the
character Of man they love 10 retain in
the public service. and hence the
reason they will send him 10 the uni ed
States Senate.
The Scranton chronicle., 1903-06-20
Lonsino aud His pstrneiors.

The newspapers which started out 10
re.elect Senator Money by campaign
of mud-slingng, ISLANDERS and personal
detraction of Governor Longino, unsup-
ported by fact or reason, are getting
sick of their job as the people under
stand the trick aud the real truth OF the
situation. Everywhere the Governor
speaks. in manly, dignified way he is
exposing the malice aud ialsity of the
opposition and winning friends and
supporters by the hundreds. I.onginc
will be a winner; mark the prediction
A man who has clean record. personal
and official, as Longino. from the time
he became chancery ERIK of Lawrenc,
county, aud who has made as fine q
governor as he has, can't be put down
before the people of Mississippi by {
campaign of de,raction and falsehood.
Brookhaven Leader
The Scranton chronicle., 1903-06-20

II is nouse trying 10 hide the fact
under y half bushel measure or any
other measure. the truth remains that
Governor Lougino Is gaining ground
every day aud should lie have eom-
plete Salkover at the August primary
Il would not surprise those who
have been watching the campaign.
The Progress has never supported
either OF the candidates. but always
tried 10 give the facts as they occurred
or as they appeared 10 the editor OF the
paper. Al the beginning Mr. Money
was not only far ahead. but had the
election taken place then Mr.. Ionginc
would not have received bakers dozen
Of the votes comparatively. 1t was
TINS stated in this paper at the time
but since then there has been wonder
ful change in the sentiment of the peo.
pie aud now IL looks like that Mr
Money will be defeated. -Hatiiesbnrl
Progress.
The Scranton chronicle., 1903-06-20
Nothing In II.

The Review OF Biloxi eriiieiscs Gov.
ernor Longiuo for not having consulted
the factory men when the oyster com.
mission was appointed Had he con.
suited them could n more efficient board
have been named2 II also complains
OF the fact that no representative from
this section was appointed on The st.
Louis Fair commission. Did The gov.
ernor have full power in appointing the
commission or was il IN the hands oi
FIVE mena Does the governors vote
count iog. wore than onep II not, why
censure him for something he could In
no wise controlp NCt one solitary word
OF criticism has YET appeared ia the
Money papers that eau in the slightest
impair the esteem aud confidence The
fseP!s Of mississippi have Tor theil
governor. The election is approaching
fas, aud Longiuo is gaining ground
constantly.
The Scranton chronicle., 1903-06-20
Sound sensr.

The Cnliport Record contained an
editorial In its issue of Tuesday com.
meniing on TIM cHRosIeLE's utter.
anees relative to the statement that Gov.
l.ongino would favor Gulfport in pref.
erenee to Scranton II he were elected to
the senate. The Record says in part.
THE CHRONICLES ridicules the repor,
that, II elected. Gov. Longino would
favor Gullpoft over Scranton. IL has
the good sense 10 understand tina,
Scranton has nothing 10 fear on that
score. There may be those around
Scranton. however, who wonld gladly
make capital cut OF such a repor. TO en-.
compass the Governors defeat, but no
intelligent man would give il his Sc
rions consideration. The same thing
was SAID OF Hon. +. J Bowers when he
announced for congress. bat that lack
son county took little stock IN such a
silly story was shown In the election
when the county went for him over
whelmlugly; and Jackson county know,
toiay that Congressman Bowers will
give Il the best representation il ha,
ever had.
The Scranton chronicle., 1903-06-20

Some time age the Record stated that
Gov. Longiuo's candidacy was growing
stronger as the election approached;
aud that this is so is shown with uumis-
taxable clearness every day. Papers
shat opposed him al the begianing OF
the campaign are now declaring for him
while others which apparently had no
idea of engaging in the contest are
gradually coming TO his aid, with the
result that the Governor today enjoys a
formidable newspaper support. Our
own coast Is a notable example OF what
we wish 10 convey. 1t has not been
long since Governor I.ougino was with
out the support of single newspaper
along the whole Seaeoast. but not SO
now. The ahlest papers in South Mis-
sissippi, including the SCRANTON
CnRoNIcIE, bay ST. Louis Progress and
Eeho aud the Biloxi Herald, the last
named papet declaring itself for him in
a column and half editorial Wednes.
day evening, are now working with all
the zeal and ability at their command
10 encompass his election. II will be
remembered that The Herald was
amongst those papers opposing him al
the beginning OF the campaign. The
Record attempted Saturday morning
last TO show the partial causes that hav,
operated TO bring about this remarkable
change. namely, Senator Moneys prac
teal advocacy Of Major Nardaman',
candidacy and approval Of his view,
respecting the so-ealIed negro agitation
There are thousands OF voters agsius
the Majors position upon this question
who have turned against Senator Mon
ep for no other reason than that he i
in sympathy with Mr. Naraaman
Then again there are a number OF peo
/ pie who, since seeing aud hearing th'
two candidates, comparing their agel
their practical abilities. their power K
accomplish TIE most good for the state
have resolved TO support Gov. Longino
Whatever the various reasons peops,
may assign for their change OF heat,
the fac, remaius that Longino's rank:
have been heavily increased OF late. =
6ulipor, Record.
The Scranton chronicle., 1903-06-20

by referring to our announcement
column It will be noticed that Mr.. r. {.
coSan is an aspirant for the position Of
fioater representative for the counties
OF Jackson aud Harrison. Mr.. cowan
IS the sou OF Professor ID. ID. Cowau
superintendent OF public education, and
has just graduated with high honor,
from the law class OF the University o.
Mississippi. lie Is a native of the al
Joining county of Harrison, but has re
sided in this county the creator part o
his life. He Is young gentleman
OF pleasant address aud IS possessed o
more than ordinary ability. II the peo
rle OF the two counties should honor
him with the position to which be as
pires he will fill il with credit to him
self and his constituents.
The Scranton chronicle., 1903-06-20

II il so ridiculous that IL Is really
funny TO hear men who do not know
what they are talking about. say that
Gov. Longipo is not as well qualified
for the senate as Senator Money, when
It is generally conceded by thinking
people that his past record is far ahead
Of Senator Moneys. and he has not yet
had half the opportunity. Does any
one imagine that Governor Longino
would whip white street car eonduc-
tor for nickle and then give half
dozen negroes good fat Offices over white
applicants Mecomb Enterprise.
The Scranton chronicle., 1903-06-20
FROST IN JUNE
Political Ambifion nipped--Monsy loses
ON His o~n Speech.

The much advertised address OF Sena-
tor Money IN the intesest OF his candi-
daey for reelection 10 seat in the
United States senate took place at the
court house last Saturday night
The size of the crowd tells the tale
After liberal newspaper notices and
dodgers scattered broadcast throughout
the county, on balmy moonlight night
in a city Of five thousand, the largest in
his old congressional district, there
were by actual count 7s persons present
at the speaking, less than IS of whom
were qualified voters.
The size OF the audience was a fair in
deation of the strength of Mr.. Money
in Water Valley and vicinity. and vas
so accepted by warm admirers Of his
from coneevlie and Oakland who were
present.
In personal appearance Mr.. Money is
sadly changed. The vigor is gone Fl ON
his step and bearing. He looks soured
and aged and disappointed, and his
speech is bilious aud full of i'll temper
On the tariff trusts and similar ques-
tions Mr.. Money stands with other
Democratic leaders, but on the matter
oi race issue he Is in opposition 10
practically every brainy man of the
South.
The speech was a disappointment TO
his warmest admirers, and they are
now sorry lie was brought into the
county.
1t was the speech of a loser aud con-
firms the growing majority for Lon
gino. Water Valley Progress
The Scranton chronicle., 1903-06-20
MISSISSIPPI BRAIN WORKERS
Believe That LOnginO Will Be Elected
United States Senator.
FROM ALL OVER Tile sTATE COMES TnE SAME NEws
Senator Money Is Regarded Being Too Old The sgor
Gone From Ills Step and Bearing"

II Gov. 1.ougino has grown in
strength IN other parts Of the state since
lac launched his campaign as he has in
this county. = xalkoyer eonironts him.
There is very little doubt nov about
his carrying this county. As soon as
Money yoked up with yardamau and
his negro rot our people deserted the
pugilisiie senator aud will vote right
sunflower PeEsee.
The Scranton chronicle., 1903-06-20

We have been asked. time and agaiu,
why Senator Money declines to meet
Governor Longino in debate We can
only answer. I'VE don't know" Almost
any man of ordinary intelligence can
make a speech. II given time 10 prepare
IL, but not every speaker. by a long shot
is ready debater. and some of them
have sense enough TO know IL. We
agree with tie Democ rat, the Progress
aud the Banner-a and with other con
emporafies-that II Senator Money
would devote some OF his oraiions to
personal matters. so far as to tell of
something he has done for his state
aud country, while commenting on
Governor Longino's acts aad speeches,
he might be more interesting. Longino,
like faithful public servant, has given
his record. Now let Money give his
Safds Reporter.