Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-30
FILE BILL IN EQUITY
SHAREHOLDERS OF METROPOLIS
VIEW SYNDICATE ACT.
Court Asked to Appoint Receiver for
the Property - Rule to
Show Cause.

trict Supreme Court by twenty of the share
holders of the Metropolis View Syndicate
against Georgia B. Denison, widow of
| William o. Denison, who up to the time
Of his DEATH October 81 last had been
prominent in real estate circles in this city
for twenty-five years or more. Mrs. Dent
son is sued as the sole devisee and sole ex-
ecutrix under the last will and testament Of
| her late husband, which has been offered
but not yet admitted to probate, and also
| in her own right. The bill also names as
defendants Helen Paddock Clara Denison,
| Ida Sheffield. Benjamin Denison, George
Denison and w. J. Denison, who heirs
at-law of Mr.. Denison. and Mrs. Sarah ].
Booth, Mr.. Denison's mother-in-law.
| line shareholders attorneys Stanton
| c. Peelle and Paui E. Sleman, and the bill
| of complaint is signed by Warren w. Fos-
| ter. John Farnsworth, ]. D. Terrill, Philip
! H. Miller, Harriet Nee. Kimball, Susan M.
Jackson John W. Stokes; j. Lee Adams,
| executor of the estate of ]. Lee Adams, de-
ceased; Helen J. Stewart, Alice II. Morse,
Everett 8. BeaA, John Irwin, Catherine p.
| Campbell; Mary S. Hazen, Administrative
| of the estate of Henry A. Hazen deceased;
Hattie L. Davis. Belle Coleman Alice E.
| Snyder, Lizzie D. Larkins, Lucia NJ. Delano,
and Louise s. Manning, Administrative OF
| the estate of William P. Manning, deceased.
Appointment Of Receiver.
The petition of the shareholders asks for
|
charge of the property and books of the
Metropolis View Syndicate and for
counting of the acts of William o. Denison
as surviving trustee of the syndicate and
prays that the heirs may be enjoned pend
| ing the suit from disposing of the property
| belonging to Mr.. Denson's estate. The
| shareholders bill of complaint alleges that
about April, 1880. William o. Denison So
| licited and induced the compliments and
other persons to JOIN him in the formation
| of a syndicate for the purchase, improve
ment and sale Of certain tracts of land In
the subdivision known as Metropolis View,
representing that he had an opportunity to
purchase the land at a low price, which
would certainly net a profit in very short
time. 1t is stated in the petition that Mr..
Denison represented that he had not SUI
fcient money with which to purchase the
land in question, which would cost $1170,O
from the then owners j. Es.court Sawyer
and William E. Clark, and that for that
reason he desired to form a syndicate and
to interest persons In the purchase of the
land equal terms with himself, stating
that he would take shares in the syndicate
and that the proceeds derived from sales
of the land would be dveded among the
members of the syndicate proportionately
to their respective investments therein.
The shareholders allege that Mr.. DeniSon
represented that the lowest price that the
land could be bought for was $4,000 and
scribers to the syndicate would get in on
the ground floor; that is. would acquire the
land at the first cost price. 1t is stated
by the shareholders. however, that they
have recently been informed that the state
ments made by Mr.. Denison to the price
to be paid the owners for the land, namely
$4,000 was false and that the syndicate
members have been defrauded out of the
difference between that amount and the
amount actually paid the owners. which
the shareholders allege was only $4,000.
Vesting of the Title.
The shareholders further state in their
petition that by direction Of Mr.. Denison
the title to the land was first vested in
George H. Baldwin, who was messenger
In the office Of Denison, and man with
no financial resource responsibility and
that Baldwin decided the land to William
o. Denison and James w. Sands, in trust
for the members of the syndicate. The
shareholders further state that shortly after
the organization of the syndicate the trus-
tees. Den.son and Sands, proceeded to SUBJ
divide, lay out and improve the land and
thereafter sold some of the lots, receiving
therefor considerable sum of money. 1t
is stated that certain houses were erected
by the trustees and the shareholders charge
that in their construction extravaganza and
waste were shown and due business care
and judgment were not exercised 1t is
stated that after the death of James w
Sands. William o. Denison, as surviving
trustee, managed the affairs of the syndi-
ate.
The shareholders claim that in April,
1902 Mr.. Denison. as surviving trustee
decided certain syndicate property to Sarah !
j. Booth, Denison's mother-in-law. for an |
inadequate consideration and with the pur-
pose of defrauding the syndicate members |
and they ask the court to enjoin Mrs |
Booth from disposing of the property so
acquired by her pending the result of the |
suit.
Desire an Accounting.
The shareholders ask for an accounting |
of the actions of William O. Denison. as |
surviving trustee, and allege that Mr. Deni- |
son. as trustee. failed to keep separate |
books of account for the affairs of the
syndicate and merged the cash belonging
to the syndicate with his own personal
funds. The shareholders state that they
nave investigated the accounts of the trus-
tee and find that many items of expendi-
ture claimed to have been made by the
trustee for the syndicate unsupported
by vouchers. They allege that several years
ago Mr.. Denison, acting beyond his author
ity, purchased five and one-half shares of
syndicate stock with syndicate funds from
dissatisfied shareholders who threatened TO
carry the affairs of the syndicate into court
unless they were paid 1t is stated that |
such shareholders were paid for their shares
at the rate of $3.50 per share. the original
amount paid by them for their shares be-
ing $1,000
1t is further stated in the bill of COM
plant that during the last year of his life |
Mr. Denison was in feeble health and I'M
able to actively engage in the conduct of
his business affairs, and that during that |
period his wife. Georgia B. Denison, had |
practical control of his business transac-
lions. The shareholders claim that Mrs. |
Denison induced her husband to deed and |
transfer to her prior to his death certain |
real and personal property, among which |
were the holdings of Mr.. Denison in the |
Metropolis View Syndicate, without valu- |
able consideration, and the shareholders !
ask that Mrs. Denson be enjoined, pending /
the suit, from disposing of the property so |
acquired by her.
Refers to Mr.. Denison's Death. |
The petition refers to the death of Mr.. !
Denison, which occurred October 81 last, |
and states that he left last will and tes-
lament devising and bequeathing all his |
estate, both real and personal, to his wife, |
Georgia B. Denison. The court is asked |
to enjoin Mrs Denson from in any way |
incumbering or disposing of this property |
pending the result of the present suit. |
The shareholders ask the court to ap- |
point receiver or receivers to take charge |
of the property and the books and papers |
of the syndicate and to manage and wind |
up its affairs. |
A rule to show why a receiver |
should not be appointed was signed by |
L to E1-l - GA