Waterbury evening Democrat., 1906-03-21
RlCE-KEILoGG CASE.
Judge shumway Revoked Order Ap-
pointing Appraisers.

A. E. Rice and his friends scored a point to-day against J. P. Kellogg and Levi Wilcox in the Apothecaries Hall Co.'S internecine fight for stock, Attorney Root succeeding in having Judge Shumway revoke the order he issued last Thursday appointing Otis 5. NOrthrop and Senator Henry H, Peck appraisers on 433 shares of the company's stock. At o'clock Judge Shumway, as a judge of the superior court, heard the motion to revoke the order. Attorney Root stated that owing to a vast difference of opinion between his side of the contention and Attorney Burpee's 1t was impos- Bible for the appraisers to go ahead with the work they were appointed to do. There were two applications for appraisers and each contended the appointment was made on his ap- plication. The point of this differ ence was that if Attorney Root gave way to Attorney Burpee it would mean that the latter's client, MT Kel- logg, would buy the 43S shares, : which would mean the freezing of MT Rice and his friends out of the company. Then again, Attorney Bur pee also maintained that the 4O9 shares of so-called trustee stock could not be sold as MT Rice did not own that stock and 1t was not repre- sentsd in the company
 Attorney Root contended that the final valuation of the 433 shares would depend on the determination of the suit which is now pending in the court. The stock may be worth $100,O0O or s50,00O. The injunc- ton issued to prevent MT Rice from voting on the trustee stock enabled MT Kellogg and his friends to elect themselves to office and shut out MT Rice. It was certainly very strange proceeding when 409 shares do not control the corporation.
 Replying to this statement, Attor- ney Burpee said there is no trustee and no trust and that was why MT Rice was enjoined from voting on the 4O9 shares. The records of the company will prove there is no trus- tee stock and this is the foundation of the whole controversy. For two months said Attorney Burpee, we have been trying to get this question before the court" The company is prosperous and the stock is valuable to whenever it belongs, yet MT Rice and his friends want receivers and injunctions. Attorney Burpee had no objection to the court revoking the order issued last Thursday upon Attorney Roots application for it, but he wanted it to remain on his ap- plication and for the appraisers to go ahead with their work. The case x~ 1No cartons contest, he said.
 For that reason," put in Attor- ney Root, i've want temporary re- ceiver appointed before the other questions are settled. We can snow that Mir Rice was properly appointed trustee of the 409 shares, succeeding his father in that office, and that he was elected director of the company by the very parties who are now seeking control of the company. He gave a bond of $10,O00 for his prop CT conduct as trustee. We can prove that the other stockholders have con spired to get control of the 4O9 shares in the event of the close of the life interest, and we can further more show that these parties are try irg to make this stock yalueless. Tlis is only part'of an outrageous col spiracy. They are determined to fight it out to the last point and they have threatened all manner of pro ceedings, even quo warranto, to find out who the officers of the company are."
 Attorney Burpee replied that his client was ready to buy the disputed stock upon appraisals and that there are proceedings in court to revoke the appointment of Mir Rice as trus- tee because he was appointed under misrepresentations. Attorney Root, he said, is now crying for the stock which his clients would not buy and which later was bought by MT Kel- logg. It was not until after 1t was bought that Attorney Roots clients saw their mistake.
 Attorney Root contended that the directors would do all they can to reduce the value of the stock, but the court asked him how they could do that without also reducing the value of their own stock. This closed the hearing and the court revoked the order appointing the appraisers. This was a point won for Mir Rice, the first since the litigation began two months ago.
 Next Monday noon the court will hear 6 motion for the appointment of a temporary receiver.