The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1906-10-30

the authority vested in him by the
laws of the United States, appointed
John B.. Cunningham Receiver of
said Enterprise National Bank, of Al
legheny, with all the powers, and du-
ties given to or imposed upon a re-
ceiver under the laws of the United
States, and afterwards, to-wit, on
December LIST, 1905. said Cunningham
resigned as receiver of said bank, and
thereupon Thomas Rinaker, plaintiff
herein, was duly appointed receiver
thereof by said Comptroller and was
duly qualified as such and thence
hitherto has been and now is under
a., and by virtue of the laws of the Uni
ted States and the authority of said
Comptroller, winding up the affairs
thereof. A duly certified copy OF said
order appointing said Rinaker as SAID
receiver is hereto annexed made part
hereof. and marked exhibit l.
Second. The defendant, he Penn
sylvania Development Company, Is a
corporation created and existing I'M
der the laws of the State of New
Jersey and under powers conferred
by its charter is conducting its bus
mess in the city of Pittsburg, Alleg-
heny county, Pennsylvania. where it
has established and now maintains
it's principal Office where the books
OF the corporation are kept Except
stock and transfer booksl and where
its directors meetings are held. Said
Pennsylvania Development Company
was incorporated and organized in the
year 1901 by William H. Andrews,
Arthur kennedy, Francis j. Torrance.
| and T. Lee Clark, who were then
and have been since the promoters Of
a scheme for the acquisition of GER
tain Goa and timber lands in the
Territory of New Mexico and the De
velpoment thereof by the construction
Of a railway or railways therein, and
the development of other enterprises
in connection Herewith. Said Tor
rance. Kennedy, and Clark were all
residents of Allegheny county, Penn
s~ylvania. AND SAID ANDREWS
THOUGH CLAIMING A RESIDENCE
IN THE TERRITORY OF NEW MEX
ICO, FOR THE MOST PART AC-
TUALLY RESIDED IN SAID AL
LEGHENY COUNTY DURING THE
TIMES HEREAFTER MENTIONED.
Said T. Lee Clark was, at the time OF
the organization Of said Pennsylvania
Development Company, and thereaft-
er n until his death on October IS
1905, continued to be-. the cashier OF
the Enterprise National Bank of AL
legneny, and was well known as such
to h other promoters of the Penn
sylvania Development Company as
ing Arthur Kennedy, and Francis J
Torrance. who were president AM
vice president thereof. respectively
Shortly after the organization of SAID
Pennsylvania Development Company
and in or about the year 1901, sait
T. Lee Clark was elected treasurer
thereof and thereafter until his death
as aforesaid continued to be treasur
er of said Pennsylvania Development
Company.
The promoters of said scheme fol
the development of said New Mexico
properties had not sufficient means
to develop the same, and the said
Pennsylvania Development Comp
any, which vas organized to acquire
and supply such means had only d
nominal capital of $4,000 which was
wholly inadequate for M purpose,
and Kennedy. Torrance, Andrews
and Clark, stockholders in said Penn
sylvania Development Co, agreed
among themselves to raise money
from time to time for use in the
said project, as by other means, SC
especially by the endorsement of the
promissory notes of said Development
Company, and procure the discount
thereof by various banks, and said
Clark, who was cashier of said En-.
terprise National Bank, of Allegheny
was elected treasurer of said Devel.
opment Company for the purpose
among other things of procuring the
discount of notes at said Enterprise
National Bank, and for the purpose
of borrowing funds from that bank
for use in said project. Thereafter
from time to time ~promissory notes
were executed by said Pennsylvania
Development Company, and endorsed
by said Francis J. Torrance, Arthur
Kennedy, and T. Lee Clark and deliv
cred to said Clark as treasurer of said
Pennsylvania Development Company