The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-03-26

| t1llVey hOSGlle, NllTlnSlte, WIS.
There is no Just as good" medicine.
| Insist on having Hoods.
| Get 1t today in usual liquid form or
Shocolated tablets called Sarsatabs.
No. 2os for 1872 shares issued to Plaintiff
Brandt
And plaintiffs further allege that said
| defendants have kept no account in the
| books OF said corporation with said fund
| so created as the purchase price OF said
| property and set forth I'm the article above
quoted; nor does II appear from the books
what disposition has been made OF the
| same, or what portion thereof has been
| received by said defendant corporation.
and upon information and belief plaintiffs
| titious or the said Spiro has converted
| the same to his own use.
o. That by the terms OF the articles OF
incorporation OF said defendant corpor-
alton. the defendants, Spro, Clark
Browning. Lewis and Pischel, with one
Lafayette Hanchett and one John c.,
DAILY. are named as the FIRST board OF al
rec;ors.. and the defendant Splro is named
as president, the defendant. Pischel vice
president, the defendant, Browning, sec
retary. and the defendant, Clark. treas
by filing their several oaths OF Office with
the county clerk OF Salt Lake county. the
county where the principal place Of busi-
ness OF said corporatio Is situated That
at the annual meeting In 1909 all the in
dividual defendants herein named In the
title OF this complaint, were elected as
the board of directors. and the persons
last above named as officers were elected
respectively 10 the offices last above stat
ed; but that none of said persons have
ever qualified as such directors or Off
county clerk of Salt Lake county. as
plaintiffs are informed and believe, though
they have ever since assumed to act
as such directors.
1llegality Charged.
6. That. as plaintiffs are informed and
believe, many of the alleged directors
meetings at which assessments have been
levied, as herein alleged were attempted
10 be held without the presence OF all
the members of said board. and without
notice 10 those not present under au-
thority claimed to exist by virtue OF the
provisions of article XI. of the articles
of Incorporation OF said defendant cor
poration, which is TO the effect that
whenever majority OF the directors shall
get together and act as a board. the ac-
ton taken by them shall be the act of
the board OF directors. and binding on
the corporation even though no notice
of such meeting shall have been given
TO the remaining directors.
And plaintiffs further allege and
show to the court that in and by article
IN. OF the articles OF incorpora tIon of said
defendant corporation the said defendant
assumed and undertook to
pay all the outstanding Indebtedness and
liabilities of said Wyoming corpora ton,
and that as plaintiffs are Informed and
believe and so state the fact to be. at a
meeting OF the directors of said Wyom-
Ing corporation held on or about the 18th
day OF February. 1908. said indebtedness
was stated by Defendant Splro, and as
certained to be in the aggregate s102,-
91S.39, made up of two sources OF indebt-
edness, TO wit, various sums TO various
individuals amounting in the aggregate TO
sI7; 1888, and OF outstanding bonds
t.1. iTI h1z,, -111
days. thereafter, TO. wit, at the time OF
the incorporation OF said defendant cor
poration, the said Defendant Spiro had
swelled and increased the
was the amount actually assumed by said
defendant corporation as shown by its
book entries made at said time, which
count OF said Defendant Splro showing a
credit In his favor OF s30S0.21, and "bills |
payable" being notes In favor OF Solon
Spiro, special trustee, amounting TO s1o,-
l7225. together with interest thereon
amounting TO s3o55.45. and plaintiffs alege
that according to their best knowledge |
information and belief. said several
The only sums OF money which were
'ightfully due or owing from said Wy
1ming corporations to said Spiro, either |
directly or indirectly. But that notwith-
'endant corporation show that said Splro |
has wrongfully and frauduently charged |
amounts against the said Wyoming cor
2oration and taken credit to himself un-
ii said account has been charged in the |
aggregate with sl62 954.6S, being an ex-
,essive charge OF s60,04l,29 which said |
amount has been charged against said |
defendant wholly without authority and |
n order that the said Defendant Splro
might have credit for the same on the as
5essments upon his stock as herein set
forth.
Methods Questioned.
s. That since the organization Of said
defendant corporation, as plaintiffs are
have assumed to levy upon the capital
stock of said corporation nine assess
nents' amounting in the aggregate to IS
,ents ,pd;,n per share and that the total
n cash and credits. aggregates S2S2-
sOs 2S. but that Of said amount only s129-
Il2Sl has been paid In cash. and OF the
balance thereof sIlI2507S. being the
amount appearing as due from Defendant
Spiro personally and as agent and from
Mrs, Solon. Spiro. has been charged to
iarious and sunary accounts upon which
he said ,spiro claimed credits in the par
,iculars herein set forth. and the balance
S3o.l1a.69. was charged TO various ac-
counts. and the family. henchmen. sup
we're wrongfully and fraudulently allowed
,redit therefor on their said assessments:
md that the said Defendant Spro has
not paid any part Of any assessment in
have, as TO the part thereof |
n this paragraph set forth. been wrong
ully and fraudulently charged to sup
posed and non-eXisting indebtedness al |
eyed and pretended by him TO exist |
against the Wyoming corporation and to
'undry extra ordinary services claimed to
lave been rendered by himself but none
II which were ever authorized. or the
ratified by the board Of direct
IT'S OF said defendant corporation.
That the said Defendant Spiro has
Yronsfully and fraudulently charged said
and taken credit for large
sums of money upon his assessments at
he time each assessment became due,
.ggregatiug not less than Ss7, ,2O6 25, and
OF the following items:
$4,000 bonus for alleged stock transac-
ion for the Wyoming corporation which
las never become due according to the
erms OF the resolution creating the same
ia, loo for machinery and lumber alleged
% have been sold to the defendant cor
ooration by Spiro. but which was In fact
he property OF the Wyoming corporation.
Ind passed with the other property to the
defendant corporation;
$3.50 forl salary for the Wyoming cor
7oration while IT'S property was in tho
hands OF a receiver:
$500 for organizing and promoting the
defendant corporation;
$500 for stock claimed as loaned for