Norwich bulletin., 1912-12-31

chase price and the balance of S1,564.- SS was paid one-half by Sheehan and one-haIf by Lee.
 From 1889 to 1903 the business was conducted under the firm name of the Middle River Manufacturing company. Then it was incorporated. Soon after wards MT. Lee demanded stock certi ticates for hls one half interest and finally procured from Sheehan d cer- tif1cate for S32 shares. Ii is alleged that the remaining 16S shares that belonged 10 Lee were held by Shee- han for time for the purpose of qual- flying dummy" directors and other officers.
 Mir. Lee has always desired to have . the certificate made out in his own name and has often requested MT. Sheehan to procure one for him. It is further alleged that Sheehan pro- cured the incorporation of the com pany, chose the dummy" incorpor- ators from among his personal friends, has transacted the business from the beginning and has completely dom- mated it at all times.
 Mir. Lee, although q half owner, has . never had any representation upon the board of corporation, nor among its officers, has never been notified of any stockholders meetings, has never re- ceived any financial statements of the corporation and has never been able : to obtain any inside information con corning its affairs.
 The WOOlen mill was leased by the corporation and is today leased and : is being operated by the lessees. The rental paid by the latter since 1889 has been approximately $500 a year, the corporation paying therefrom for tqyas and 10 interest OD tha : mortgage, which has now been reduced ] to $10,0O0. The corporation also re- ceived about 5000 under proceed ings to condemn a right of way across the property for an electric railroad.
 An allegation Is that the income of the corporation has been entirely in the control of Sheehan and that Lee an equal partner, has never received anything therefrCm, directly or indi- rectly, except an allowance at 6 per cent. per annum upon the sum of s, 7SI.94, originally invested by him, il having been agreed at the beginning between Sheehan and Lee that each should receive such allowance until the companys earnings and the reduc- . ton of the mortgage should make il possible to pay regular dividends il excess of that amount.
 The annual report filed by the cory- pany with the secretary of state dt March l9. 1912, stated the company officers as follows: Directors: J. NJ Sheenan. sidney Sullivan, 50 Church street, New York; George E. Tinket Al Liberty street, New York; pres ident, J. NJ Sheehan: treasurer, F. C. Jontras, New I ork, and secretary, Sid ney Sullivan.
 The complaint sets forth that MT Lee is informed and believes that Sul- hvan, TiHIet and Jontras are "dum- mics procured py Sheehan to fill the offices and that all of the business of the corporation Is actually trans acted by Sheehan as president or as attorney as it is alleged he frequent ly styles himself. Another paragraph in the complaint indicates that Mir. Lee has been informed and believes thai Shaehan "milks" the defendant cor poration of its surplus income, by excessive salaries or Jv excessive MI; for counsel or attorneys fees or both
 It is also alleged that books of th, corporation are kept without the state and within the control of She6%an.
 The case will come befcre the su- perior court for Holland county at tn, February term, 19l5f unless delays occur.
 "A Loyal Friend' is to be presented a the Orpheum tneater Wednesday even ing by the Associated Players. Don miss it,--adv.