Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-12-24
STATE OF MAINE,
KENNEBEC, SIS. SUPREME JUDICIA
COtrRT IN IynITJry

4, j
COURT IN EQUITY.
National Electric Controller Company
VS. Consolidated Life Securities Company.
70 the Supreme Judicial Court in Equity;
Inc National Electric Controller Com
pany, a corpora ton organized and exist
ing under and by virtue of the laws of
the State of Illinois, with its principal
business office located in the City of
Gnicaso, County of Cook, and State of
Illinois, in behalf of itself and of all
other creditors of the Consolidated Life
securities Company, who may wish to
ION in this Bill of Complaint against the
consolidated Life Securities Company,
corporation organized and existing un-
DER the laws of the State of Maine, To-
Gated at Augusta, in the County of Ken
nebec, says:
First: That the Consolidated Life Sc
curltles Company is a corporation exist
ing under the laws of the State of Maine
with capital stock of Two Million Five
hundred Thousand (S2, 800 000.00) Dollars
divided into two hundred and fifty thou
SAND shares of stock of the par value of
len $1,000 Dollars each, of which stock
one-haf are preferred shares and one
haf are common shares.
Second: That the National Electric
Controller Company, the plaintiff herein,
recovered a Judgment against the said
consolidated Life Securities Company in
the Superior Court of the County, of
Cook ana State of Illinois on the third
day or July, 1918, for the sum of S., 1863. 70
and costs, which said judgment is in full
torce and effect, no portion of which has
been paid
Third: That this Plaintiff is informed
and believes and so charges the fact 10
be that the said Consolidated Life Sc
curiues Company is owing large sums of
money to other creditors which it has
not paid, and which it refuses to pay.
Fourth: That the said Consolidated
Life Securities Company has ceased do
ing business and has left no assets
which the Plaintiff has been able to dis
cover out of which to realize the amount
OF its said judgment or any portion
Fifth: That large number of persons.
which the Plaintiff is informed and be-
heves and charges the fact to be are
more than one thousand in number, have
subscribed for preferred stock of said
Consolidated Life Securities Company,
for which they have paid little or moth
ing of value, and upon which they are
legally and equitably owing large sums
| there are no assets and there is no way
by which II and the other creditors of
said Consolidated Life Securities Com
pany can secure the amounts owing to
them by said Company unless the stock
holders and subscribers for stock of said
Consolidated Life Securities Company
owing by them upon their respective
stock holdings, and this Plaintiff shows
Sixth: That the said Consolidated Life
Securities Company is in danger of be-
coming insolvent and that in justice and
equity its affairs should be closed up.
Seventh: That a Receiver should be
appointed with power to collect from the
stockholders of said Consolidated Life
upon their respective stock holdings and
that this. Plaintiff has no plain, ade-
quate and complete remedy at law.
WHEREFORE, this Plaintiff prays:
l. That a Receiver may be appointed
for the said Consolidated Life Securities
Company with full power of Receivers
statute in such case made and provided.
to conserve, protect and collect all the
assets of said Company, to take charge
of all books, documents and every kind of
property whatsoever belonging to said
Company and to marshall the assets of
said Company, and to collect from the
stockholders of said Company the
amounts unpaid upon their respective
stock holdings and to distribute the sums
so collected and the assets to this Plain
tiff and other creditors of said Company
who shall by this Court be held to be
entitled to distributive shares thereof,
and TO wind up the affairs Of said cor
poration.
2 That an injunction both temporary
and permanent issue restraining the said
corporation, its officers and agents and
attorneys from receiving any moneys,
paying any debts, selling or transferring
any assets of the corporation or exercis-
ing any of its privileges or franchises.
8. That the defendant may make full
answer to this bill but not under oath,
answer under oath being hereby waived.
l. That this Plaintiff may have such
further and other relief as the nature of
the case may require.
). That this Honorable Court will issue
its writ of subpoena in accordance with
the provisions of the statutes requiring
the Consolidated Life Securities Company
To appear and answer as therein required
and to stand and abide by such orders
and DEGREES as to this Honorable Court
may seem meet.
And that an injunction both temporary
and permanent may issue restraining
said Defendant as herein before prayed
for.
6. And that this Plaintiff may have its
reasonable COSTS
Dated, Augusta, Maine this End day of
December, A. d. 1914.
NATIONAL ELECTRIC
CONTROLLER COMPANY
BY E. NJ. Thompson, It's Solicitor.
E. NJ. THOMPSON,
Solicitor for Plaintiff.