Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-06-30
Filed by Joseph S. Brad
street Of Gardiner,
Against The South Gardiner
Lumber Co., Ell Ais.
Wants Matter OF Salaries, Etc.,
Strengthened Out.

The affairs of the Eradstrect Lumber
Co. corporation ol South Gardiner
will be aired at the August term of the
supreme judicial court The plaintiff
| is Joseph s Bradstreet of South Gar
diner and the defendants, are Brad
street Lumber Co. ct ais. The plain
| tiff alleges that thu defendant cor
| poration was organized under the laws
of the State OF Maine. .tpril %. 1851,
for the purpose of selling lumber II
was organized with a capital stock of
$1nn,p00 divided int faao shares Of par
value Of 800 each, that on Dee IS.
| 1908. the amount OF capital stock was
reduced from $100,0ea to $51.aG0. that
notice of the change was duly recorded
| in the Office of the secretary OF State
| in Augusta, in accordance with the
Istatute; that the original corporators
We're Joseph 5. Bradstrcct Gather of
the PLANTING owning 1913 shares. the
defendant Fred T. Bradstreet owning
1873 shares and Daniel Longfellow own
ing two shares.
The plai:i.iff further alleged that in
the year 1891 the corporation was cX-
cused by the attorney general from
making returns to the secretary Of
State on the ground Of suspension of
| business, and that on Jan. /, 1901 notice
WAS filed in the Office eff the secretary
Of state that said CORPORATION had re-
stunned business, that also being the
| date that the secretary of State was
notified of the decrease. That Joseph
| 5. Bradstreet, father of the plaintiff.
died July l3, 1893 and that prior to that
date plaintiff became the lawful own
CT of $50 shares and that on said date.
Fred +. Bradstreet and William l..
henderson each owned $50 shares: that
] the $50 shares thus owned bv Brad
street and Henderson were shares Of
the stock then issued to the plaintiff
That he had owned his own shares
| from Jan. l, 1904 To the date Of the
finding of the bill. except "a short
period in the month of April, 1911.
when so shares of the plaintiffs stock
was owned and controlled by Warren
G. Philbrook of Waterville that prior
To the filing of this bill PhHbrook sold
and transferred so shares of stock back
to the plaintiff; and that at the date
| the plaintiff and defendant were own
ers of all the stock issued and out
standing of the Bradstreet Lumber Co.
The defendant also alleges that at Il
meeting of the stockholders held the
following officials Were elected. hi
rcctors. Fred Z. Bradstreet. William +,
henderson and Joseph S. Bradstreet.
and the following officers were elect
ed; President. Joseph S. Bradstreet;
| treasurer, Fred r. Bradstreeti general
manager. William J.. Henderson. The
salary of the president. treasurer and
general manager were placed ut 800
per month. Fred Bradstreet resigned
as treasurer and d. H. Darling was
elected treasurer in his stead. The
clerks salary was fixed at $50 per
month. The plaintiff alleges that in
aceordance with the bylaws of the
company the directors and not the
stockholders are to TX the salaries
and that the salaries were exorbitanf.
lie asks that the vote of the stock
holders passed at its annual meeting
April is. 1910 when the salary of the
treasurer was fixed at $500 be res
Tended; that the treasurer be authnr-
lied and requested to return to the
treasury all the money he has received
as salary since the annual meeting, in
excess 9f 500; that WspF. Henderson
be requested and authorized to return
all money and Valuable consideration
ne as received rs a result of the vote
OF April 49, 19l1, and that the directors
be. requested and instructed to rescipa
| the vote of MAY Il. 1910. when tbe
salary saof the president was fixed at
$500