The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-11
CENTURY MAGAZINE
TIED UP BY COURT
X. w. Mcbride Gets Injunction
Hating Proposed Rcor-
ganizatfon.
SUES TO ENFORCE SALE
Charges Serious Damage by Rca.
son of Failure TO Ac-
quire Property.

The litigation resulting from i.r He.
cision OF the Century Company tn s,' "a
Century Mdodrtne to Robert W. N,I..o
and others because q was losing r..le,
and the subsequent decision not ~ of
the magazine but to reorganizs tra Con.
tury Company took new turn ycs'.,1,y
when Mr. Mcbride got n temporar, r..
junction from Supreme Court Justice sea.
bury which ties up the magazine f,r IN.
present ut least
An application TO continue tho i1iur,.
ton pending the suit will he made In
the Supreme Court on August 10 and nm
that date the Century Company vii ask
to have the Injunction vacated
The Injunction, which was granted on
affidavits by Mr.. Mcbride and his coun.
sci. Henry Bennett Leary, resirains the
Century Company from selling or at.
tempting to sell the magazine or any In.
terest In II or from entering into any
contract in behalf Of the Century Ndgn.
sine or from changing the character,
type or kind OF said Century Mdgastnep
and also directs the Century Company 20
set aside all money received from the Ccn-
tury Mdodsine since June % last, whom,
II is alleged, the magazine was sold O.
Mr. Mcbride and his associates.
The suit is brought az the result u
statements by George II. Hazen. president
Of the Crowell Publishing COMPANY who
Is trustee OF the voting trust stock IN
control OF the Century Company. that ~.
company had decided not to dispose Of the
magazine but to have an extensive roor.
ganizatlon of the Century Company IN
which W. Morgan Shustcr. formerly
Treasurer-General Of Persia. would have
a leading part. IT was Mr.. Hazon's sur
as a stockholder that prevented the sae
Of the magazine TO the Mcbride syndicate
from being carried into eject.
The complaint alleges that the magazine
has been published at constantly n.
creasing loss for several years
For this reason various efforts v'rs
made to sell the magazine. aud the OFFER
from the plaintiff was the best IL was ap'o
to get. Mr.. Mcbride says II was then
and Is now necessary for the well being
and for tho life and continued eN'stenr.
of said company" that 1t should put su
end 10 the magazine losses. since the Gen
fury Company has paid no dividend f0r
i've years. and has existed largely upon
money which II has borrowed" lie saws
the stockholders would benefit boy the
abandonment Of the magazine"
Mr.. Mcbride alleges that because ~ his
experience ne "would be enabled 10 pub
lish such century Ndgd=inc At prof,
and that ne will suffer great loss and
injury II the defendants are not entnir"d
from refusing TO permit him to do So
lie alleges that tho refusal ut inc on
fury Company to carry out tho sal, att'-
public announcement OF the fact had been
made has caused rumors untavorabl" 10
him to circulate and he will be injured
to an extent that cannot be- computed Z
the defendant continues In Us refusal TO
carry out the sale. He alleges tna' zero
said Century Nd1dsh'e occupies a di-tIrr-
tive field and is OF peculiar value To- us
plaintiff
Attached TO the complaint is the agree
ment OF sale executed by the Century
Company and Mr.. Mcbride. under whic1
he was TO acquire the Century NGgdsir"
for $500, 900, and paid $1,000 down Since
the Century Company has refused 20 carry
out the sale Mr.. Mcbride has Offered
$500, 900 for the controlling stock I'm tho
Century Company, but this offer has been
rejected.