The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1915-12-17
. the st. Joseph Lead Company.

to the st. Joseph Lead Company.
That none Of the stock Of the st.
Joseph Lead Company and Of the Doe
Run Lead Company purchased by the
said Trust Company was sold by said
Trust Company nor by said Rozier
and Cayce, but all Of said stock to-
gether with other stock amounting to
eighty-fve thousand four hundred and
seven and 35-100 dollars was assigned,
transferred and delivered to the st.
Joseph Lead Company in payment Of
its claims against said Trust Company
as partner, depositor and stock
holder, and that said stocks, securi-
ties and cash transferred and deliv-
cred to said st. Joseph Lead Company
We're Of value insufficient to pay
claims of said Lead Company in full,
but were nevertheless accepted by de-
PENDANTS Graz e, Camp and Parsons in
behalf of said Lead Company, in full
for said claims, with the knowledge
and approval of said Jones, and that
such acceptance therefor caused de-
PENDANT st. Joseph Lead Company to
sustain great loss; and that there
was no legal authority in the State
of Missouri for the liquidation of the
Trust Company except through the
president, directors and managers
thereof, and that the dissolution of
said Trust Company by said Rozier
and Cayce was in violation of the laws
of the State of Missouri; that by rea-
son of the purchase of stock by said
Trust Company and on account of its
failure to sell said stock at times
when prices were good, and the re-
tention thereof by said Trust Com
pany at time of its liquidation, the
said Trust Company was unable to
pay its deposits, its debts and the
stockholders claims and the claims
of its partners the st. Joseph Lead
Company, and that the sale of said
stock at the price prevailing at the
time of such liquidation and at the
time it was turned over to the st.
Joseph Lead Company would not have
yielded an amount sufficient to cover
the amount paid therefor by the
Trust Company, but the main pur-
pose of turning over the said stock to
the defendant st. Joseph Lead Com
pany, together with the eighty-fve
thousand four hundred and seven dol
lars and 35-10O 1886, 4O7.35) in cash
was to deceive the stockholders of
the st. Joseph Lead Company and
particularly this plaintiff, and to
avoid showing the losses herein COM
planned of, and that the officers and
directors of both the Trust Company
and the Lead Company consented to
and authorized, procured and ratified
the carrying out of this transaction
in total disregard and in violation of
their duties as such directors and Of
ficers, and resulted in great loss and
damage
That before and after completing
the liquidation of said Trust Company
by said Rozier and Cayce they made
reports on the progress of said Ii
quotation to Clinton H. Crane as
president of st. Joseph Lead Com
pany, and said reports contained all
the details of said liquidation, but
that said Crane took no action what
ever to protect the st. Joseph Lead
Company against any losses, nor did
said Crane consult the Board of Di-
rectors in regard thereto, nor did he
submit the matter to the Board of Di-
rectors for its approval or disapproval,
but willfully stood by and permitted
the st. Joseph Lead Company, of
which he was then and now is the
President and director, to sustain
such large losses without making any
effort to recover any part thereof;
that after said liquidation had pro-
crossed to point where said stock |
had been delivered to said st. Joseph |
Lead Company, and that the danger
of said losses becoming known was
thought by said Crane and Camp to
have been avoided, the Trust Com |
pany through its attorney, Edward
A. Rozier, who was also one of the |
liquidating trustees, made and filed a |
petition in the Circuit Court of st. |
Francois County in which he asked |
for an order and judgment dissolving
said Trust Company, which was ver-
iied and sworn to on April 20, 1914, |
by Roscoe R. S. Parsons and F. H. |
bearing as President and Secretary
respectively of said Trust Company,
wherein it was alleged that the in
ventory Of the property owned nv