The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1908-07-25
In the Circuit Court for Cecil County
In equity. No. ?7so

The object OF this suit Is TO procure the appoint
ment OF a Receiver for the property mentioned In
the bill and for an injunction as therein prayed
and Tor the winding M Of the business OF the de.
PENDANT FIRST herein named, and for other relief
The bill states;
!. That the plaintiff Is citizen Of the State Of
Maryland, residing in the town Of Port Deposit
In the County OF Cecil, In the State Of Maryland
and that OF the defendants. The Venture Corpora
ton o. America. ~ corporation. ORGANIZED, ex-
tsting aud doing business under the laws Of the
state OF Arizona having It's principal Office loca.
cd in the city OF pttsburR In the State OF Penn
sylvania and having no President. Directors, Of
| hcers or Agents residing In the State Of Mary
land upon whom process can he served and that
the said Henry II. fubner resides 10 the City Of
baltimore, in the State Of Maryland. and the said
William J. Black resides In the city Of piitshurg
Aforesaid. OF clswhcrr beyond the Jurisdiction OF
/ this Court and the said The Cecil National Hank
/ OF Port Deposit \. corporation OF the United
States. doing business IN THE town Of Port de-
post aforesaid
| ;. Tina, the capital stock OF the defendant. The
| Venture CORPORATION OF America, consists OF
i.lOoO0 shares OF common stock OF the par value
al 400 per share, and that the plaintiff Is duly
| qualified stakeholder thereof, owning sOOnD
shares, OF the full paid worcestershire stock
| thereof.
| ;. That upon the organization. OF said corpor-
alton all OF lis stock was made full paid by the
| issuance thereof for property, in accordance
with the laws Of the State OF Arizona and 90 per
cent Of said stock so issued. was donated and re.
| turned to the treasury Of said Arizona corpora.
tion by your orator aud other stockholders there.
OF. to be at once sold aud used for the purpose OF
purchasing and operating the Tale property
| hereinafter mentioned.
| I. That the said Arizona corporation. subse-
ducnt 10 the organization thereof sold 10000
shares of said treasury stock for the price Of ~
cents per share. OF total sum Of $4,000. lcav-
| ing stock IN the treasury NJ the present time.
| unSold 10 the amount OF sSo.npl. and that Sn..
| 90 shares OF the stock issued In addition TO the
| 10000 shares held by the plaintiff, are held and
| owned by a number Of individual stockholders.
4 That said Arty tsn, al.
cd Tor the purpose oi purchasing, owning, deyei.
opng aud operating "A certain piece OF tale prop.
eriy or real estate. consisting Of twenty three
| acres more or less located at or the village
| OF conowinRo IN the sth, election district Of
/ Cecil County aforesaid. the cost price Of said
| property being the sum Of SsOoo.v0.
| q. That ON or about the 18th. day Of February
| IN the year 1905 the plaintiff acting for himself
| individually and IN his own right entered into a
| certain option contract with the said Henry ~
| iInbner and The Cecil Mineral Company Of Cecil
| County aforesaid, wherein and whereby the said
| Henry II. Hubncr aud the said The Cecil Miner
| al Company agreed To sell and convey at the Oh
ton OF the plaintiff on or before the 18th day Of
/ MAY, in the year i9s the tale property described
| III paragraph hereof. for the price OF SSyD.OO.
i $50 IN cash on the signing OF said option agree
mcni aud the remaining sisoopo 10 lie paid ON or
| before May, 18th. lH~, u copy OF which agree
| mcut OF contract being filed with said hill ax a
part thereof, marked Exhibit A.
| :. That the said The Cecil Mineral Company
| u corporation OF the State Of Maryland, doing
1
| County aforesaid
| :. That on OF about the 18th day Of February,
| lbis the painiin entered into written contract
with the said William J. Black. wherein and
| whereby the plaintiff agreed to assign and sell
and did assign aud sell, all Of his inictcs, IN said
| option contract mentioned aforesaid. to the said
| William J. Black. he agreeing to Organize and
incorporate the said Arizona corporation, for the
purpose of taking over owing and operating.
said tale property, copy OF which said contract
| between the plaintiff aud the said William ],
hpsn nlYI attt Her,
| marked Exhibit ~, II being agreed that the
| plaintiff should receive a. consideration tot his
said interest, a. pct cent OF the capital stock OF
the said Arizona corporation,
| .. That on OF about the day of February
/ l'ss the said William J. BLACK, pursuant to his
said contract with the plaintiff organized the said
Arizona corporation aud assigned to 1t the alorc.
said contracts set forth In exhibits and Baiore-
said, passing the entire interest aud right Of TN
| ally owning. acquiring and operating. the said
tale property. To the said Arizona corporation. a
| copy OF which said assignments being filed with
| said bill marked Exhibit =" aud Exhibit ~"
| respectively
10. That pursuant To- the purpose TOT which
| said property was acquired and the said Arizona
corporation was organized, THE said defendant.
| The Venture Corporation OF America. employed
/ the plaintiff rs manager. giving him full charge
| anu control oi the oreuing starting aud carrying
| on the business Of mining aud marketing the tale
| underlying said property and that the necessary
| tools aud machinery purchased. including
/ engine saws aud other articles aud machinery to
| the value oi ahou, Sls.i and the same was duly
delivered at the said property and placed IN oprr.
| alton. on 81 ahou, March IS lrts, the plaintiff
| giving hi~ entire time and personal supervision
| thereto.
| II, That under the terms OF said option con.
| tract A., the said ARIZONA corporation. during
the continuance of said option, mad the right 20
| install machinery. aud to mine quarry and mar.
| kct the tale product from said property Upon
| payment To- the owners thereof OF the sum ai siU
irf ton luf all tale mined and marketed prior tn
AiaN Is. ISIS. over So tons aud Oh which late the
| said Nrisona corporation would receive it, deed
from the uwuer- If said property III the Iu,
mcul to them ui the said remaining sum OF
sIHnuI.
| l.. That the plaintiff. a. manager Tot the said
| Arizona corporation. acting by the authority OF
H. Board oi Directors and pursuant To- the power.
aud duties oi his SAID employment started "a
| work aud open ~ the said quarry on the said
| property, and employed lnhuIcts and men for the
| purpose oi operating and CARRYING on the bust
nc~s aforesaid thctcou and had everything in such
| excellent condition ipt work that said Arizona
| corporation could carry ON said work SO success.
| fully and proutHhly ~ to yield To- II the snm oi
| ahou, Shr Ter ton net. OF, At least, s5'r' pcf
| iay. net profit
| ~ That on OF about April .nl. iytS without
authority oi the Hoard OF Directors Of said NtiIn.
ne corporation aud without a'N notes
| whatspCyct, aud without any reason OF lI-i Caisr
| the said William ]. BLACK It's President, visited
the said property, IN the temporary absence OF
! your orator aud directed all work then going
uu 10 hc siorIcl, aud discharged the men en-
piuycd hy the plaintiff on behalf OF the said opcr.
atiug Corporation. closing down the mine aud
| putting the same ont OF Operation to the great
| loss damage and iuiurN ui the said Arizona cot,
pofatiou aud It's stockholders,
| "a. That on ot about March 10Th ipn~ the said
| william J. BLACK, President OF the said arizona