The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1907-12-25
SUIT INSTITUTED
vs.. MILL PEOPLE
Ware Shoals Controversy
Goes to the Courts.
WANT $780, 900 DAMAGE
Minority Stockholders Charge Mismau.
agement on the Part of the Majority
in Conducting Company's Affairs.


Laurens, Dec. 20.-J. o. c.. Flem-
ing, N. B. Dial and other minority
stockholders of the Ware Shoals Manu-
featuring Company have brought ac-
tion against the Messrs. Reigel and
other majority stockholders of that
company, and the papers have been
filed in Greenwood.
The allegations in the complaint
cover eleven typewriter pages, and
set forth the history of the enterprise
and the terms of the agreement under
which the Messrs. Reigel were allowed
to purchase the majority of the stock
of the company.
1t also alleges that the agreement
has been wilfully and deliberately vio-
lated, that the present usurped manage
ment is inexperienced, incompetent and
extravagant, and that the plaintiffs are
damaged to the extent of 100000.
The following prayer of the complain
ants is fair key to the allegations:
Wherefore plaintiffs demand judg-
ment against the defendants:
First. That they may be required to
specifically perform, or cause to be per-
formed, their contract and agreement
entered into as hereinbefore alleged:
(D BY restoring to the Office of
president of the defendant corporation
at salary of $4,000, and with the du-
ties that properly and legally belong to
the office, the plaintiff, N. B. Dial.
(b) BY electing, or causing to be
elected, to the same office, with the
same duties and at the same salary,
subject to increase as hereinbefore al
legged, the said N. B. Dial at the next
annual meeting of the stockholders and
directors of said corporation, to-wit, at
the end of the current year.
(c) BY furnishing to the defendant
corporation any funds needed for it's
corporate purposes at seasonable rates
of interest.
(d) By taking and purchasing the
output of the defendant corporations
mill at prevailing prices, and saving to
its stockholders all expenses connected
with the marketing and sale thereof
Second. That the defendants s may
be onjoined and restrained from con-
tinuing or allowing to be continued the
unlawful control and management of
the said corporation by and through
Benjamin Reigel as nominal president
and Benjamin d. Reigel, now claiming
to have sole charge thereof as treasu-
rcr, and that they be further enjoined
and restrained from re-electing or caus-
ing to be reelected at the next annual
meeting of the stockholders and direc-
tors of said corporation any person
as president of said corporation other
than the plaintiff, N. B. Dial, at a
salary of $4,000 and with the duties
which belong under the bylaws to said
office of president.
Third. That the defendants, other
than Ware Shoals Manufacturing Com
pany, be required to account to these
and other stockholders similarly situated
and who join in this action, and to the
defendant Ware Shoals Manufacturing
Company for all their unnecessary, lille
gal and wrongful acts and conduct in
the management of the said Ware
Shoals Manufacturing Company, and
for all their wasteful, wrongful reck-
less, excessive and extravagant use and
expenditure of the funds of the said
defendant Ware Shoals Manufacturing
Company.
Fourth. Failing in the foregoing,
that the plaintiffs may have a decree
of this court for the cancellation and
revision of the contract set out i'm the
fifth paragraph of this complaint, and
restoring the plaintiffs and other mi
nority stockholders, and also the de-
PENDANTS, to the same positions they
relatively and respectively occupied to-
wards the defendant corporation before
the making of this said contract.
Fifth. That the plaintiffs may have
judgment against the defendants other
than Ware Shoals Manufacturing Com
pany for the sum of $100, 600, their
damages as set out herein.
Sixth. For such other and further re-
lief as may be just, and for the costs
Of this action.
Simpson, Cooper & Babb,
Simpson & Bomar,
f. p McGOwan