The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-10-23
new TURN TO
HOLDEN CASE
stockholders Voice Is Heard in
the Proceedings.
Owner of $50 Shares Asks for
a Receiver.
HE SUES The ADMINISTRATOR
The Company Itself and Its
President.
The Property Has Been in Liti-
CATION for Many Years.

A brand new voice, that of the lowly
stockholder, was heard this morning
in the muddle of litigation which sur
rounds the Holden Land and Invest
ment Co., in Shawnee county district
court, when suit was filed with Chas.
Bowers, clerk of the district court, by
John D. Paxton, owner of $50 shares
in the company, against the Holden
Land and Livestock Co., William D.
Mcleod, administrator of the estate of
Howard NJ. Holden, and Hale Holden,
now president of the land company.
Paxton, a Kansas City attorney, says
his stock has a par value of 500 a
share. He prays an accounting be-
tween the plaintiff and defendants in
the affairs of the land company, and
that the court appoint a receiver for
the defendants interest in the suit. He
wants the affairs of the company fin
ally wound up and asks for a decree
fixing the amount due him on MS
shares from Hale Holden and Nc
Leod. He also asks an injunction re-
Straining the sale of property belong
ing to the company until after the sale
of Holden'S estate for application on a
lien held against the company, Pax
ton alleges, by the Kansas City Ma
tional Bank of Commerce. Paxton s
suit is filed by Ferry, Doran & Dean,
local attorneys, and involves the IA
NOUS Holden ranch which is located
in Shawnee county near Kingville.
Paxton says he has held the shares,
valued at $4,000, since July 1, 1901.
Howard M Holden, then well known
in Topeka financial circles and presi-
dent of the company, with offices at
Kansas City, Paxton alleges, received
all rentals of the land in Shawnee
to be sold, receiving the money him
self
Note to the Bank.
The plaintiff alleges that in 1901
Holden executed a note payable to the
National Bank of Commerce of Kan
sas City for $4,000, which he alleges
was secured by note given Holden
by the company for $4,000. Paxton
alleges that Holden used $4,000 of
the money received for the note to pay
off a lien on the property and devoted
the remaining $4,000 to his own per-
sonal use. The petition also alleges
that Holden devoted other moneys to
his own use and claims that Holden
received not less than $3.50, 600 for sale
of lands, 100000 of which was used,
Paxton says, in payment of interest
and principal to the Bank of Com
merce. The plaintiff cites that a de-
cree in Shawnee county court puts a
balance of $S5.0OO due on the notes
and has been clared a lien on the
property in lwnee county and
other properts jackson county, Mo.
Hale Holden and Mcleod, he says,
have applied to the court for a decree
to sell the lands with view of apply
ing the proceeds on the lien. Paxton
claims that the lands are worth $685.
900 or 100000 in excess of the amount
of the lien. Holden, before his death,
never made any accounting to the
company, Paxton alleges, and claims
that Hale Holden, now president, has
failed to do so.
Litigation over the Kingville ranch
has been in Shawnee courts since 1901.
The cases have been to the United
States supreme court and back.