The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-13
W. Johannes Sues Green Noun
tain Gold and Copper Min
ing Company.
SENSATIONAL CHARGES
MADE IN THE ACTION
In Addition to Appointment of
Receiver, an Accounting
Is Prayed.

Charging that the officers Of the COM
pany are relatives, and that Samuel Nc
Graw, president, manager and director
has conveyed 100000 shares OF tnc capt
taliZatIon OF 500, 900 shares ut 81 cach
10 ElizabeLh and Margaret NJ. McGraw
without authority and consideration w.
Johannes filed suit In the district court
Saturday to throw the Green Mountain
Gold Copper Mining company ln'o we
hands of q receiver.
Jennie NJ Mcaghcr. vice president
treasurer and director OF the company,
and William O. Mcaghcr, director. are
included us defendants The company
was Incorporated for SbOO.OUU IN sl
Eharos. Johannes says. with 25O.oo0 shares
subscribed, OF which hc holds SUI, ana
the rest 100000 shares we're placed III NC
Graw's name as trustee, The stock SUD
scribcd was distributed AS follows Nc
Graw, $4,000 shares; w. j, Measher
Edward Doan. Charles Shields and Alma
f. McGraw. 1000 shares each.
II WAS stipulated in the incorporation
articles, Johannes says, that the zoO.ooo
shares of stock placed In McGraws name
thcrancc of the purposes OF the organl-
cation, but Notwithstanding this Nc
Graw not only has failed 10 transfer
the stock to the company, but has con-
vcyed 24O, 600 shares OF this stock TO lcliz-
abcth and Margaret NJ. McGraw without
authority or consideration. Tho officers
and directors were related To one announcer,
Johannes says. and McGraW procured the
transfer OF this stock To the McGraw
women through his control OF the direc-
toratc,
Still Another Charge.
III addition other stock, as evidenced
by certificate No. 8. has been wrongfully
issued johannes charges but there is
no record 10 show tho amount, TO whom,
when or the consideration. The shares
thus Issued Johannes believes TO be the
balance OF the capital stock, making the
whole OF the capitalization now issued
and outstanding.
McGraw also has created an over-issuo
OF stock by selling something like 100000
shares Of stock additional 10 other per-
sons for s5 cents a share. payable one
half cent u month, IL is alleged. On This
stock. Johannes believes, McGraw has
collected an average OF Z cents share,
Still other stock TO the amount of $4,000
has been SO sold by McCiraw, Johannes
thinks.
The main trouble is, johannes says,
that there is no treasury stock to perform
the conditions OF these sales by Nc
Graw. The persons 10 whom McGraw
has 30 sold stock are refusing 10 pay
the balance and are demanding the
money they have paid bnck and the com
pany is in imminent danger OF insol-
vency Johannes says, being threatened
with a multiplicity OF suits
McGraw, Johannes alleges agreed to
make all sales Of stock for nothing, but
be hasn't lived up to his agreement
Johannes says that McGraw has pro-
cured the adoption Of resolution ap-
chase price of stock so sold TO him as
commission for his work. This amounts
to $3.50. Johannes says. The only d.
rectors present when this resolution was
adopted were McGraw and w, ].
Meaghcr.
Says Funds Disappeared.
The funds OF the company have dis
appeared and w. j. and Jennie Meagher.
former and present treasurer, respective
ly. have failed TO account for them,
Johannes alleges. or $40. so taken in,
$7S1e.62 has been paid out, leaving
s2457.1S in item unaccounted for.
Johannes claims. The Meaghers, Jo-
hannes alleges. have got $500 OF the
company's funds.
McGraw. Johannes further charges, has
refused 10 require the treasurer TO put
ZIP a bond for the performance of his
duties. The company Johannes says,
has been conducted entirely FOR the ben
eft OF Samuel Il McGraw instead of for
the advantage OF the stockholders since
Its inception to the present. McGraw
has closed down both the mines and the
offices.
In addition 10 a receiver and the sale
of the property at sheriHs sale, Jo-
hannes wants the resolution approDriat-
ing money TO McGraw for the sale of
over-lssue stock rescinded, McGraw re-
CURED to account for $1,000 shares OF
the capital stock of the company, the 100
or $50 persons holding this stock called
IN and the stock Cancelled, and money
accounting demanded OF McGraW and tho
rest