The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-19
Golden Sunbeam Company Off
GERS Accused of Working
Graft.
TEMPORARY RESTRAINING
ORDER ALSO ASKED FOR
Purchase Of North Sunbeam
Gold Company Stock Fea-
ture of Action,

Charging c E. Gable, general manager
OF the Golden Sunbeam Mines company,
and other officers, With buying up prac-
tically worthless stock IN the North Sun
beam Gold company at 8 cents q share
and unloading it upon the Golden Sun
beam Mines company a 80 cents a share,
J. McF. Carpenter. a stockholder in the
latter Incorporation, Wednesday brought
suit in the third district court against
the Golden Sunbeam Mines company and
Cable 10 compel the return 10 the North
Sunbeam Gold company OF all the stock
thus traudulently purchased, and TO force
Gable to return 10 the treasury OF the
Golden Sunbeam Mines company all the
money he may have taken OF received
from that company in payment or North
Sunbeam Gold company stock
Carpenter also asks that all the other
officers of the defendant company be re-
quired TO make. an accounting OF any
sums OF money they may have received
from the treasury In payment Of stock
in the North Sunbeam Gold company. and
that upon the accounting the defendant
company he compelled 70 return to these
officers any stock in the North Sunbeam
Gold company which 1t has taken or pur-
chased from them and that the ofhcers OF
the defendant company, upon the return
OF the alleged worthless stock, be COM
PEELED TO deliver to the Golden Sunbeam
Mines company any sums OF money they
for such stock, To the defendant corpor-
atoms treasury. temporary restrain
ing order, prohibiting the defendant cor
pora tion or any officer acting Tor II from
purchs sing further stock in the alleged
virtually defunct company. is asked for.
Carpenter sets ont IN the complaint
that the Golden sunbeam Mines company
Is organized under the laws Of the state
OF Washington, and that he has been a
stockhoder since 1904 holding 1910
shares. Carpenter apparently anticipates
that other stockholders VIII join him IN
the suit, for he sets oct that the action
IS brought in bis own behalf and that OF
any other stockholder who may desire
20 join him as parties to the complaint.
In Custer county, Idaho, il Is recited.
Authorization Attacked.
Carpenter further sets out that the pur-
chase OF North Sunbeam Gold company
stock by Gable was pretendedly author
lied at an Irregular meeting OF the d.
rectors IN room $ll, Atlas block, March
,. this year, at which were present 9. \
Streveu. Gable G, &. Huffman. e. ~.
Rossberg and O. X. Lewis. Thie meet
ing authorized Gable TO buy up all the
stock he could secure In the North sun
beam Cold company, not to exceed 100000
shares, at 90 cents a share, the purchase
price to be paid from the funds accumu-
lating IN the defendant company's treas
ury. This meeting also authorized the
purchase Of Sc, 600 shares of the stock
from Gable. The only restriction placed
upon Gable, II Is alleged, was that he
was not TO buy to exceed 100000 shares
and must not exhaust the treasury OF
the Golden Sunbeam Mines company.
The meeting was Irregular Carpenter
alleges, in that the bylaws of the Golden
Sunbeam Mines company require that
notice OF the place, object and time OF
the meetings must be given 10 each OF
the directors. which was not done,
Carpenter further charges that Gable
was an officer and stockholder In the
North SIM beam Cold COmnDnN. that llp
stock OF this company was Of little. If
any, value, and that Gable knew this,
but that for the purpose Of defrauding the
plaintiff and other stockholders he falsely
TO the directors OF the Golden
Sunbeam Mines company that the stock
of the North Sunbeam Gold company was
OF some value, and caused the reSolu-
tion authorizing him TO buy stock In lt
TO be adopted and that Cable Immediate
" took. or arranged 10 take upward OF
$50, 900 from the treasury %: the Golden
Sunbeam Mines company 10 purchase
worthless stock in the other company.