The Bridgeport evening farmer., 1911-11-23
RECEIVER ASKED
 FOR COMPANY
MiSmanagement Alleged by Rep reSentativeS of Northern Connecticut Securities
 Company
BRIEFS WILL BE FILED
Controversy Over Collins Con trOl of River Interests up
 in New Form

The old contest between the North ern Connecticut Securities company and the Connecticut River company both of which seek to build a dam at Windsor Locks, came up in a new form at Hartford yesterday. It was at hearing in superior court in a suit brought by the securities com pany asking that a temporary re- ceiver and later a permanent receiver be appointed for the Connecticut Riv- CT company. The ipartieS will file briefs and Judge Gardiner Greene, who heard the case. will give his de- clSlon later. Arguments were made Buck for the Connecticut River com pany and Lewis Sperry, Harrison R. Freeman and Lucius F. Robinson for the Northern Connecticut Securities company.
 MT. sperry alleged ,nismanagement by the directors of the Connecticut River company and that the North which owns 691 shares of the capital stock of the Connecticut River com pany, has no adequate remedy at law and receiver is necessary for relief. Mir. Buck asserted that the same allegations were tried in the suit of Perkins against Coffin which was carried to the supreme court and settled in favor of the Connecti- cut River company.
 The suit is against the Connecticut River company and against nine Of it's directors personally. It is alleged that the Connecticut River company was specially chartered in 1924 for the purpose of improving boat naviga- tion On the Connecticut river. MT. a ir1.a hat ic that. It's charter was amended two years ago in June and it now has the right to sell water power, electric power and to erect a dam and an elec- tric plant. Its capital stock is S203,- 800 of 2.035 shares. It owns a canal in Suffield and Windsor Locks seven miles long.
 The nine directors named as code fendants in the suit are Arthur D. Coffin, Samuel E.. Elmore, William c. Skinner, Normand F. Allen and Leon F. Broadhurst, all of Hartford; Hen ry w. Irving of West Hartford, John R. Montgomery, Ezra B. Bailey and Herbert B. Coffin of Windsor Locks.
 The complaint in substance states that the defendants. Arthur D. Cof- fin, Herbert R. Coffin personally and as trustee of the estate of Herbert R. Coffin, ST.. late of Windsor Locks, now control and are able to vote and TOT many years nave SD COnIrOlleQ anu voted a majority of the capital stock of the defendant company, and have been able to select and elect board of directors. That these directors have interests adverse and antagonis- tic to the company and it's stockhold- ers That Messrs. Coffin, John R. Montgomery, Ezra B. Bailey and Will liam c. skinner constitute a majority of the board of directors who are ad- verse and antagonistic to the inter ests of the company in that they are either purchasers Of water from the defendant company or are personally interested as stockholders Or directors of companies that purchase water from the defendant company That they are also interested in partner ships and corporations which are the owners of ancient deeds of indenture of the defendant company of the rights to take from the canal a cer- tain number of square inches of wa ter. These deeds of indenture were executed entirely inadequate at the present time. That they have been taking large qantities of additional water of value greatly in excess of the amount paid for it. Further mis- management is charged and it says these directors recently fixed the price of water to be sold at very low and inadequate rate and that they have rented real estate at low and inadequate rates
 It is alleged that the officers and directors failed to render proper ac- count and allowed accounts and rights of action against other persons to be- come outlawed. That they involved the company in large expenditures of about $10O 900 for land and engineering expenses beyond the charter powers of the company. That the company has been damaged by mismanagement to the extent of $1OO0.O00 and has been unable to pay any dividends for over 30 years.