The daily morning journal and courier., 1904-09-09
OYER ONE MILLION SUNK.
BT CONNECTICUT FARMERS IN
 SHADE TOBACCO.

CT Aaned-Promofers TOOK seventy Thousand Dollars of the Stock Issue Land worth Fifty Thousand Dol lars or Less Capitalized at Five Hun dred Thousand Dollars.
 Hartford people see no hope of get ting back about s1OO,OOO which they in- vested in stock of the United States sumatra Tobacco Growing Company. The corporations property in this state is now in the possession of Hugh N. Aleorn, who was appointed tenn porary receiver for the Connecticut property by Judge Case in the superior court yesterday morning.
 The United States Sumatra Tobacco Growing Company was incorporated under the laws of New Jersey, with an authorized capital of $500, for the purposes of growing tobacco under shade. The corporation owns about 150 acres of land in Windsor Locks. This land is fitted with frames and sheds and is said to be an up-to-date tobacco plantation, The stockholders of the cor poration, however, seem to know very little about it's affairs and the lawyers for some of them seen by areporter of s'The Courant" yesterday afternoon, could give little information in addi- ton to what was contained in the ap- plication submitted to Judge Case for the appointment of the receiver.
 The application was brought in the name of Robert Moore, builder of this city, who is the owner of twenty shares for which he paid S2,000, and it was said that Hartford people invested about $100,0O0 in the corporation. The only property which the corporation has, so far as stockholders and their lawyers know, is the real estate at Windsor Locks. This is said to be worth between $4O,OOO and $50,OOO, in- cluding land and buildings. There is no personal estate so far as is known. The lawyers for the stockholders did not know the officers of the corporation other than that Emery Bemis of Boston is treasurer One of the lawyers said that the corporation was promoted by. Levi Diamond of this city and that, MT. Diamond was at one time president, but that he has recently resigned as president and director.
 A lawyer who offered the informa- tion in his possession to "The Courant" reporter said that of the authorized capital stock of $500, 900 between $250, 1000 and $260, ,000 had been issued. Of this amount $70,OO0 was in what is known as promoters stock and MT. Diamond, he said owned $35, ,00O of this, for which he did not pay one cent. As to who held the remaining promoters stock the law yers representing different stockholders did not know. MT. Moore in his apli- cation alleges that information regard ing the affairs of the corporation was refused by him by the officers and he had been unable to learn anything about it's affairs. The company raised seventy-five acres of tobacco under shade last year, but this crop is held by a Hartford bank as security on loans advanced to the corporation.
 If there Is any equity in the tobacco above the amount of the loans that is all the corporation or the stockholders can make claim to, it was said yester- day. After the appointment of the re- ceiver reporter went to see lawyers
 
 ders, but the lawyers would not give the names of their clients One lawyer said that Hartford people were repre- scented in the corporation to the extent of one hundred thousand dollars at least, and this, he said, was money that had been paid for stock. It was said that there are claims outstanding against the corporation aggregating f1f- teen or twenty thousand dollars.
 Tn his application for the appoint ment of the received MT. Moore alleged that on April 1, 1904, the company aban- doned the business for which it was in corporated and abandoned the property in Windsor Locks, leaving 1t without protection from loss and destruction, and that the property was liable to de- struction and waste unless speedily sold or cared for. The property is now un- der attachment for claims aggregating, 1t is alleged, much less than the value of the property and MT. Moore said that there was danger that the property would be irreparably damaged during the progress of litigation unless a re- ceiver was appointed
 < COULDN'T SEE BOOKS AND PA
 PIERS.
 The most important paragraph in the application, and one which the lawyers would not talk about, is the following:
 .tTl1e defendant (corporation) by req son of the misconduct of it's ocers has ceased to manage and care for said property and the plaintiff (Mr. Moore) Us unable to obtain from the officers of the defendant any statement as to it's condition and the amount of its liabili- ties or to secure any action by them with view of relieving said property from attachment. !
 There are unsettled and conflicting claims upon said property" it is al- legged, sswhich require immediate atten- tion and the books and papers in rela- tion thereto are in the hands of the off, cers of the defendant and inaccessible to the plaintiff, and the officers of said defendant refuse to take any action"
 The allegation is further made that the corporation has failed, for want of funds, to carry on it's ordinary busi- ness, and that it is not able and has no intention of doing so, and 1t cannot with safety to the public and advan- ]o oas fo ifs sfockho1ders resume the h1ls-