The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-30
ANOTHER SUIT IS
F|La BY k|hBALL
In This Cas- the Western Secu-
rites Cmpany Is Made
Dfcndant.
FRAUDULEN JUGGLING
OF AXETS Is CHARGED
Companion A6iOn to That lnstl-
tuted Againt the COntlnen-
tai Lift, Concern.

George 5. Kimbl. who Wednesday
brought suit in th, third distinct eourS
against the officer and directors Oh
the Continental Liz Insurance and IN
vestmcnt company this city, to com
pel them 10 let himcXamine the com
pany's books. Thursay began a sinli-
lar action against te officers and az
rectors Of the Weston Securities com
pany, an Arizona corpration, with prih-
ciraI Offices in this Sy.
The defendants in he two suits are
the same with two e1eptions. In ad-
dition 70 w. S. McCoaick. John Dern,
w. Y. Rice. W. H. birmingham ana
II. G.. Edwards. KimhI names j T..
Dunn and DR.. Harry !. Mayo as de-
PENDANTS in the secoh action. The
allegations of fraudulet juggling OF
stock and assets Of thetwo companies
arc reiterated, but in uore ampllhed
form. and a restraining rdeg enJoining
the defendants from cayiDg out any,
of the several steps the are alleged
to he about to take is pWed for.
After setting out thathe made de-
mand ON the officers Of III Western Sc
curities company 10 see tt books both
on April 2S and %, andwa5 refused,
Kin,bsll resets ont the cfular ISSUED
by the Arizona concern Mrch % last,
showing that that compay had re-
ccived from the Contineral concern
1924 shares Of capital sick. yained,
in the circular statement. at,i S,@3o. .1V.
which stock had been held,Nith other
stock, as collateral security h the Con.
tinental company for the wment OF
an indebtedness OF $l2O, 1885 Of the
Western Securities company.
The Continental company 5 again
charged with releasing the Western
company from the paymcit OF his debt
and assuming obligations of tie latter
concern TO the amount of k33 ,5Odin con.
sideration of ihe assignment AMI trans
fer by the Western cmpany TO the
Continental concern of notes, atounts
and other assets, and the cousnt of
the Western concern toihe cancellation
of contract existing between the two
concerns, the value ofwhich is paced.
in the statement, al SlI ,613.13-
Other Allegations.
The statement also shows, Kinhoa II
further alleges, that it is proposed 10
distribute l9l of thf 1884 shares of
capital stock of the Continental eom.
p5 pI lIle value VI TT -Dlc-Dp, dn1Onr q
a part of the stock kblders Of the West,
ern concern TO the exclusion of the
balance, and to distribute the remain.
ing l043 shares nlong the Western
stockholders in proportion to the stock
held in that compuy. 1t is further
proposed, KimbslI alleges, to distrib.
ute the remainingassets of the West
crr company and TO dlsincorporate the
concern.
What kimball gants TO see the books
for is TO ascertan whether both corpo-
rations are contrdled by the same board
Of directors. the rue value of the notes
and other ALLEGED assets assigned by
the Western coHsrn, and what are the
legal rights Of DC Western concern TO
receive and distribute the 1884 shares
OF stock of the Continental. the legal
rights of the Western tockholders to
receive the stoa- the legal rights of the
Western dirccSrs to prefer a certain
class of stockholders to another. and
tie legal right of the Western direct.
ors 10 dlstribre the remaining assets
Of the rompaT and proceed TO disin-
corporate it.
The suit t4les the form of an an.
pllcation for ~ alternative writ of man
date, which Fobably will be made re-.
iurna6le abop May 8. the time set ON
the similar Trit applied for Wedncs.
day. klmbaa is a stoekholder in both
companies. 'H