The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1914-08-28

were successfully reclaimed Kyle i'm
mediately declined to carry out the
agreement; that he made a great
many unreasonable demands on
Young, who states that he is a man
of limited means and unable to pro-
tect himself in the open market II the
lands should be sold. whereas, so he
states, Kyle is a man Of means and
financially able to protect himself on
such bids if the lands were sold on
partition proceedings.
Forming Company Proposed
1T is alleged that Kyle as an alter
native proposed the formation of a
corporation whereby they would
transfer the lands to the corporation
through trustee and that at that
time Kyle and the defendant ID. II.
Kirkland agreed to take up or pro-
cure someone to take up and pur-
chase Young's stock in the company.
amounting to so per cent. on a 5000.
900 basis, if Young would agree TO
the formation of such a company.
Young alleges that he demanded
that the property be divided accord
ing to the original agreement but he
claims Kyle refused and threatened
him with lawsuits and that thereupon,
relying on the promise of Kyle and
Kirkland and fearing to oppose Kyle,
he agreed and the lands were decided
to Chambliss as trustee, and that hes
the complainant Young and the de-
PENDANTS, Kyle and Kirkland, Hooker
proceeded to be chartered under the
laws of Florida as the Ocklawaha
River Farms Company with an au-
thorized capital of 100000.
1t is stated that an agreement was
drawn up by which it was understood
that there were to be no farming
operations but to complete the work
of reclamation by the digging OF lat
eral canals, copy of the agreement
being filed with the bill of complaint.
The company was to create no debt
against the property nor subject ii to
liabilities until the further sum of
$4,000 had been spent to better the
property, which amount was to be
raised by voluntary assessment upon
the stockholders. The company was,
however. to rent out or lease the
lands to farmers, but of itself was not
to engage in farming operations.
Got Company Into Debt
1t is alleged that Kyle procured
Cecil Wilcox to purchase one-eighth
of the stock of the company, Wilcox
buying $50 shares for $4,000, and that
therby Kyle got control of the cor
poration. At the first annual meeting
of the stockholders in January, 1914.
Young also alleges Kyle caused to be
elected a board of directors subser-
Went to his own wishes and that he
caused the complainant Young to be
removed as a director of the company.
The bill then recites and alleges
that Kyle, acting as financial agent,
failed to improve the land in accord
ance with the agreement and caused
the company to engage in farming
over the protests of Young and that
go into debt to the extent of $4,000.
according to Mr.. Young's belief and
information. The complainant also al
leges that when the assessments fell
due for raising the $4,000 to make
the improvements to the land that he
and the defendant Kirkland paid up
and that this money was spent by Kyle
for farming instead of for the better
ment of the land. II is also alleged that
the company, against Young's protest.
voted on $4,000 bond issue.
The court has therefore been ap-
pealed to by the complainant Young.
as he states that ii would be but idle
ceremony to demand the defendant
corporation to take steps to relieve
itself of indebtedness and compel
Kyle to pay because, he alleges. the
corporation is wholly in the hands of
Kyle and would act at his bidding
and that therefore the only remedy
remains to file the bill OF complaint.
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THE HORROR AND BRUTALITY