The San Francisco call., 1909-08-14
BARON Won HI
IN FEAR OF M
Nobleman Declares in II
Action That He Is Vic m
of Freeze Out
Order Asked Restraining S;
Delinquent Stock of He
and Barley Company

Baron Louis Won Horst of German.
an equity suit filed yesterday in le
United States circuit court against
American hop and barley company
the Central trust company, their
ficers and directors, charges that IT,.
companies are working to ruin him
financially by freezing him out of tn
mop company. That the directors O.
the hop company may not succeed in
his utter ruin, he asks the federal court
to enjoin the sale of 10000 shares of
capital stock of the hop company the
18th of this month, on which he failed
to pay 10 cent assessment.
According to the baron the hop com
pany is capitalized for 19e,0 shares
Excepting so shares he says he is the
sole owner of the stock. The company
is valued at 100000, while its indebt-
edness to the Central trust company,
Won Horst says. will not exceed $780,
600. making the capital stock worth
$4,000.
BORROWED 100000
Last year the board of-directors bor-
rowed 100000 from the Central trust
company to be paid in two years, there
being debt before this of $37, ,625. 66.
deed was given the trust COMPANY to
the lands owned by the hop concern.
This was to be Cancelled when the notes
were paid. The complaint further al
leges that in November, 1905 to secure
the trust company still further. and at
Its request, baron Won Horst executed
and delivered to E. B. Young. attorney
Tor the trust company, an irrevocable
power of attorney or proxy to represent
10000 shares of stock of the complain
ant and to elect at stock holders
meeting board of directors named by
the trust company
This action on the part of the baron
made him powerless to control his in
terests in the hop company. From this
on, according to the complaint, the
trust company directors ran things to
suit themselves. The baron SAYS he
presented these directors with 10 shares
each of stock to enable them to qualify
ASSESSMENT LEVIED
At meeting of the board of direct
ors prompted by the Central trust
company, 1t. is alleged, resolution was
passed 1evying an assessment of 10
cents per share on the capital stock of
the American hop and barley company.
This was to become delinquent jan
uary 81, 1908, the delinquent stock to
be sold February H. 1909.
At this time the baron was in Lon
don. He hurried to San Francisco, and
on his arrival the resolution was re-
scinded. He then returned to London
The baron says he had hardly set sail
for Europe when another directors
meeting was called. Another 10 cent
assessment was voted. He threatened
them with suit and again the resolu-
ton was rescinded with a promise not
to vote any more assessments. For
third time, according to the bill, the
directors voted a 10 cent assessment
This time the stock was to become de-
linquent July 23 of this year and to be
sold at auction the 18th of this month.
Baron Won Horst alleges that if sthe
stock is sold it will be bid in by the
defendants; that no money will be paid
for 1T and that 1T wHri then be retired
He further AYERS that the Central trust
company owns no stock in the hop COM
pany. other than through his proxy,
and that. as the property is fully i'm
proved and dividend paying, there is no
lawful reason for an assessment.
THE OTHER SIDE
B. c. Tognazzi, manager of the Cen
trail trust company, when seen last
night, said that baron Won Horst had
done the trust company a great injus-
tice in the allegations made by him IN
his suit.
The assessments" said Tognazzi
were rescinded on the promise that Won
Horst would raise money. He failed
both times. AS he understood that the
assessment would be levied again if
the money was not raised, the resoIu-
tion was again passed. The action of
the Central trust company is not a
selfish one, as there are at least 16
other creditors whose claims the bank
is trying to save"
AGED WOMAN MISSING San Bernardino,