Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-10-07
The Complaint

The complaint sets forth that Mr.
Billiard, as holder of the Boston &
Maine stock owned by the New Haven
Road previous to 1908, had never paid
nor accounted to the plaintiffs for the
sum of s3,S24,147 in cash held by him
in secret trust for the New Haven
Road, for the purpose of concealing
the actual ownership. 1t is alleged
further that Mr.. Billiard falsely and
fraudulentiy claims said sum trans
ferred to him by the New Haven Road
as his own property" 1t is claimed
that all the defendants received por-
tions of the sum from Mr.. Billiard,
knowing that he was trustee and that
they have never paid nor accounted tc
the railroad company.
The plaintiffs claim by way of equit-
able relief % An account; ~, that
Mr.. Billiard account for the sums re-
ceived by him as trustee; (3). that the
defendants account for any sums re-
ceived by them from Mr.. Billiard; "a.
judgment for the amount found due
on accounting.
The entire history of the Boston e.
Maine stock from the time of its transfer
to Mr. Billiard as trustee in June 80, 1898,
to the transactions connected with the
transfer of the shares ny Billiard to the
Boston Railroad Holding Co. in October,
1909. is set forth in the complaint. The
history of the financial transaction con-
tains the statement that the New Haven
road .wishedto divest itself of the
apparent ownership of the shares
OF stock in the Boston * Maine
and transferred the same. 1o5 94s
shares in all. to Mr.. Billiard Ito be held
fn-secret trust for the benent OF the com
pany" This was done, the complaint
recites. to avoid possible litigation. so the
transaction was entered on the books of
the New Haven road and the New Eng
land Navigation Co. as bonafide sale
at the rate of sl25 a share The books
show a payment of 81, 100000 and unse-
cured notes of Mr.. Billiard for 50, 743, 500.
The amount was actually obtained by the
New Haven road from the National City
Bank of New York upon notes signed by
Mr.. Billiard and secured by shares of
stock OF the Boston & Maine Railroad Co.
deposited with the bank by the railroad.
In November, 1908. it is alleged, Mr..
Billiard purchased more stock of the Bos-
ton & Maine and received the sum of
$1,000 10 pay for the same from the
New England Navigation Co. He gave
an unsecured note. Later in June, 1909,
the Boston Railroad Holding Co. was
formed for the transfer again of the
stock held by Mr.. Billiard. This was an
other pretended sale, the complaint says.
and the New England Navigation Co. de-
livered money payment for those shares.
Mr., Billiard transferred to the Billiard Co.
in October. 1909, sl4.25O 900. The complaint
shows the course taken by the further
transfers of the different shares of stock
and what was paid for it, concluding
with the allegation that as trustee of the
New Haven roads Boston & Maine
shares Mr.. Billiard has received So, S24 l47
in cash but has never rendered an oac-
counting of it to the company.
Besides Mr.. Billiard, the following are
named as defendants: Charles F. Lins-
ley of Meriden. Charles S. Mellen, Samuel
Hemingway. Edward d. Robbins, Samuel
c. Morehonse and Harry V. Whipple, all
of New Haven. All are directors of the
Billiard Co The suit is made returnable
in the superior court in New Haven the
first Tuesday in November