The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-06-28

~ k1Ay1AIs x ~ ~ - - - ~
Helen Miller GcildS Ana the Bill !, also Al,
r heTs }as aoa aesssa
toTqRaS Tt ana se A.sssa SNsR
orr the property and assets OF the Vlr-
ginln Passenger and Power Company, the
R9a soe e a,5HGsHgi % IS h saa
1T Is alleged in the Bill (Isecord. page 72)
that at the time the control Of the s s,s
sso5Sd s's Of bonds. ~ mentioned IN subdi.
Il Xs a. IN s i !; ;bs tTsss5y
Of the , Company, 's Subject S tots use and
said l,,oftsass !, and also alleges that =
whole Of that fund, as well as a ii the est
Of the bonds secured by the mortgage,
exc,e !, those rcseryed to pay 9ff the ,,
outstanding .'nlthough The floating. debt
Of tho virginia Passenger and Power
Company, according to n report made by
management or said Frank Jay Gould,
Is larger now than when the control Of
the i, company was acquired BY said Gould,
temptation at the time the said Gould
took control Of tho company are far
from, being completed. and arc not In
company at this Time ..19
it HIS, also Is alleged that the company is
ss nN Jny aend has nr 4s pe
that condition Of. aftairs BY the ,unlawfu!
appropriation to himself OF the assets and
pSRPsry a n 5 SGannny aa BY
the same. ll 5 a n i5
It I, also alleges that the board Of d.
rectors elected by Frank Jay Gould has
n II "A cot NJ H..
holders Of the company showing its con-.
d ,d,i, and operations, since Frank Jay
Reeerd ls1 pase 7s S9n'r0l q TIC company
sought. both from the odlcers Of the
at stockholders meeting in Information form ton
with reference to the operations and con-
dltlon of the company; that all informa-
company had been. refused, both by its
da and dffSs9rs a Sc ead
a Me souEh hfy aa
Under these circumstances, 1T was abso-
lutely impossible for the plaintiffs to state
the ssets
were not permitted to see the books OF
ehG ioo company my and were refused by the
we submit that the Allegation here is
distinct that BY. the fraudulent manage
m men g Of Mr.. Gould acting with the coln-
quantities of the bonds OF the company
had been appropriated BY him. and a
great part of what he reports as the
i1oatlng debt OF the company was due to
him, while there had been practically no
improvements made BY him in the prop
erty ms It passed into his hands. and nc
new property had been acquired. In all
these actions. by which these disastrous
results were produced to the company.
& I'm, 1r07rf h1fr
commission. Az i5I tEa.
These allegations Of the material facts
IN the bill the court has not referred to
In Its opinion, and these are the specific
acts and circumstances which were relied
upon by the plaintiffs in the original case
| as showing state OF facts from which
It would appear that any application to
rights would be unavailing, and also to
| show that the directors themselves wcre
the wrongdoers, or in fraudulent combine
corporations was In their control, which
clearly brings this case under the In
4 fuence OF the exception to the r,le. and
not under the rule itself.
With reference to the proposed appro-
| priation by Frank Jay Gould sof the
whole Of the interurban line which was
the property Of ttra Virginia Passenger
and Power Company, without any con-
| sideration moving to said company3Sit
had in view In making said assignment
and also in selling various other pieces OF
l property which were covered = by the
mortgage of the Virginia Passenger and
/ Power $Compan and also by the mort
gage OF the Southside Railway and De.
velopment Company, one of the consti-
tuent organiza tons, was to pay over! tc
s unsecured debt Claimed to be held BY
him against the Virginia Passenger and
Power Company; and It Is stated IN Elk
i hibit II, filed with the bill (Rccord, page
Of a general plan by which. the respond;
l ent seeks to reduce Its floating debt, and
/ put itself in a condition where 1t car
enjoy some of the benefits to accrue from
tia Appomattox RIVER And on pagt
i 342 1t states that Frank Jay Gould Il
4 the largest holder Of loans TO the Viz
ginia Passenger and Power Company.
Gould, for an Inadequate consideration
property essential TO the deyelo pment 9
4 the company. and practically to dlsin
tegrate the property Of the Virginia !laH
4 ticaIlyS agreed to by the Board OF Director:
OF the Virginia Passenger and PoWe'
Company, as Is shown from IN, "a adm f,,a
prin tee record e, where It is stated There
upon this respondent through It's BoaIe
of Directors, at meeting thereoI a aoi,d
ling the four directors resident IN Wiz
glnia accepted the offer Of the Gharl !.,I
and Prince Edward Electric Rnllwa,
4 and Improvement Company Copy herein
ed with this g, dpswe aGr
4 critics desired by 1t, for the said purpos
developing II the b App9mt1dde water
THUS it appears from the allegations Q
bill and exhibits led Vfrr t
Passenger and Power Company (exclud
We T w5nm 3 3bs e G9v,a nn
& was to be madc) actually consented, 70
practically 10 consderaiontG ep on Iee
trio Railway. and Improvement COMPANY
which was owned BY t sad v,r rEhnk P ga
senger and Power Company, coyered :, q
its mortgage absolutely essential q 70 ~ y
1 stroyng the Virginia Passenger r an n
4 the the instrume OF the Charlotte an
4 Prince Edward Electric Rallw a., ar an
the absolute control OF all OF the prop