Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1907-02-07
|nority Stockholders of Rutland
Herald Also Petition for Tenn
porary Receiver.
Aim PROPERTY SUBVERTED
fEe Clement Has Used Herald for
IoIiticaI Ends--Busincss Decreased
and Dividends Nanished-Suit
Brought by senator Proctor
and T.. II. Morse.

utlard, Jan. 3i.-There was a pre-
nary hearing here to-day on a
hcerY proceeding which will with
question draw more interest than
case which has been through the
courts in many years. It Is in
Ftance an attempt by the minority
kholders Of the Rutland Herald to
70 PcrCiVal w. Clement who con-
S - per cent. of the capital stock
he newspaper, to open the account
ks for inspection, there also being
EDITION for the appointment OF a
porarY receiver. The allegation IS
o that Mr.. Clement has continually
rertod the property OF the Herald
his own political ends and that un-
his management tho business has
luallY decreased, dividend having
declared yearly prior to his pur-
30 Of the controlling interest
ne suit is brought by Senator Red
Proctor and Edward r. Morse Vt
city, treasurer Of the Vermont
bile company. The defendants are
Clement, +. r. Parsons. treasurer
he Herald and Globe association.
p. Barney. clerk. and the Herald
Globe association. \ preliminary
ling was held in the case before
ke w. W. Miles here to-day but
ing definite was arrived at. The
ndants are given until next Whd-
NY to file answer to the book mat
hnd a hearing on the petition for n
liver will DE held in Rutland Feb
y 81,
torneY- General G.. c. Fits OF Brat
pro, +. s. Plat Of Poultney and
er & Moloney of this city are
sci for tho orators and O. NJ Bar
of Bennington and 7, NJ. Meldon of
and for the defendants
ELDERS OF HERALD SHARES.
Herald corporation was organized
r. Since 1854 Mr.. Clement has own
he orators claim lGo of the 800 shares
apital stock. Treasurer Parsons is
osed to have one share and Clerk
ley one. The orators believe that
two latter shares are controlled by
ndant Clement. Senator Proctor
20 shares. which he bought IN 1851
Morse is legal holder of IS shares,
ht from w. G. Landon about jan
l. 1905 and transferred on the COR
ion books December IS. 1866.
orators claim that the business
. Herald and Globe association From,
inc or It's Incorporation to the year
ont got control was an increasing
profitable one, paying dividends
arlN, for the most time five per
1T is said that at the time Clement
'as"d control the newspaper cor
ION had practically no debts.
orators aver that since Clement
cd control OF the corporation he has
andled the business OF the eonceru
emily, honestly and impartiallv and
he interest and benefit of the cor
ION ana ITS stockholders. but has pur-
and designedly all tho time man
the newspapers and editorial utter
thereof and. the publication Of news
Pr therein with the aim and purpose
neht himself and to advance his own
ral aims. desires and fortunes, that
nnt 5 plan during the years he has
billed the corporation has been 70
pet the business affairs OF the concern
10 so control and dictate the editorial
Of the newspapers that he would
thereby personal advantage with
cgard 10 the consequences of such
cement OF the newspapers TO the
ration and its stockholders and in
ion Of the rights and interests OF
with great financial loss to the
(ity stockholders