Evening capital news. (Boise, Idaho) 1901-1927, 1912-12-31
RECEIVER ASKED
FOR THE MURPHY
LAND & WATER CO.
G. G. Childs Alleges That
Board of Directors Has
Defrauded Minority Stock
Holders Of Company.

Husband, wife and nephew, a major
ity on an alleged illegal board OF dl-
reetors. worked together to defraud
the minority stockholders Of the Muir
ply Land and Water company out II
their holdings and to fatten the fami
" poeketbook, according to allegations
in a complaint filed in the district
court Yesterday afternoon.
q. z. Childs, the holder Of 1000
shares Of stock in the company asks
for the appointment Of a receiver, the
cancellation of the mortgages on the
property of the company, and the dis
missal OF the present board.
lie declares the board unlawful IL
legal, ANA extravaganza, declares that
II has worked 10 the interests of its
members. and To the exclusion of the
other stockholders, that it has 50 heav-
lily mortgaged the property as to eat
UP all Of the interests on the invest
ments ANA contracts; and has done
nothing but appropriate water rights
and contracts and swell the salaries II
the members of the family
The suit is brought against \. J.
Neitzel, r. Il. Netzel II. Z. Neitzel
", p. McReynolds and II. A. Tool, ANA
the Murphy Land and Water companE,
The concern has a capitalization ot
1e,a00 shares, valued a. $50 each, \
]. Neitzel is the wife of II. r. Neitzel,
While r. +. Neitzel is his nephew. The
project Is located III Owyhee county,
and diVerts waters from the Smker,
Pickett and fsltes creeks for the irri-
cation of its lands
The complaint charges that the de-
PENDANTS held an unlawful meeting and
! Illegally elected themselves members
Of the board Of directors. Ii says that
| H. Il. Ncit2el MAS given 100 inches ~
paid-up water rights as a commission
for his services. that the board paid
the secretary 500 month, and au
thoriZed the salary to be paid from
January, 1910; that contracts We're
given "a r. T., Netze at rebate Of
$40 an acre and that the president Is
sued a contract to himself by which
he received Il total rebate Of $1,000 on
one tract of land,
The president and his nephew. the
secretary, were authorized to decide
upon the presidents salary. and the
complainant believes this IS to $500
a month. The wife of the president,
as vice president, and the nephew, as
secretary, were authorized, it is
claimed. to issue notes to the president
for S150,000 on the property Of the
company, and that these We're issued
in amounts of $4,000. at II per cent
interest, He claims that this interest
would eat up all OF the earnings OF
the contracts and would leave moth
ing for the completion of the system
or the Improvement Of the works.
Many of the contracts have been re-
fused by the holders, it is claimed. The
complainant declares that the presi-
dent is not worth $500 month to the
company: that his administration has
been characterized BY bad conduct,
mismanagcment, and wantcn eNtraNa-
gance," and that his ana their .unlaw
fui. Illegal and authorized acts and APP
preparations of all assets and returns
therefrom to the sole and exclusive in
terests of himself, wife and nephew,
have been a detriment to the concern.
III winding up his complaint, the
plaintiff demands that receiver be
appointed; that the officers and direc-
tors be dismissed, that the mortgage
be cancelled, and that the president
be required to give an accounting u
all Of the money that has been spent
during his administration.
Hawley Pickett a. Hawley repre-
sent the plaintiff in the action.