Daily Kennebec journal., 1916-03-01


The Maine Water Company, a corpora
ton duly established under the laws OF
Maine; the ST. Croix Electric Light q
Water Company, corporation duly es-
tablished under the laws of the Province
of New Brunswick; and the Calais Water
Company, a corporation duly establlshed
under the laws of Maine, bring this Dill
against the Maine Trust & Banking Com
pany of Gardiner. corporation duly es-
tablished under the laws of Maine. Trus.
tee under a certain mortgage deed of
trust dated July %, 1891, given by the
Maine Water Company to said Trust
Company to secure the payment of the
consolidated mortgage bonds, so-called.
of said Maine Water Company to the
amount of two million t2.000,0D dollars
and also against all the several bond
mortgage deed of trust, the names and
residences of said several bondholders
being to your complainants unknown.
The complainants aver:
I. That the said Maine Water Company
was authorized by law to purchase, lease
privileges, immunities and franchises of
certain water companies, including the
Calais Water Company: and also to ac-
cept and take from the Calais Water
Company an assignment and transfer or
its lease of the property of the st. Croix
Electric Light & Water Company. said
authorization being found in Chapter 339
of the Private and Special Laws of Maine
TOT the year 1889, as lmenueQ Dv tldptef
SO of said Laws for the year 1891; and
that in pursuance of said authority the
said Maine Water Company has pur-
chased and now holds the property,
rights, privileges, immunities and fran
chises of the said Calais Water Company.
and has accepted and now holds by as
signment and transfer from the said
Calais Water: Company its lease of the
property of the ST. CroX Electric Light
& Water Company: excepting that 1t did
nDdpr authority Of the Gaprpa nf this
Court signed by Mr.. Justice William p.
Whtehouse on October 10, 1906. sell to the
Town of st. Stephen so much Of the
property formerly of the st. Croix Elec-
| trio Light & Water Company as was
located in said Town of ST. Stephen:
Also. the said Maine Water Company
has by different and separate convey.
! ances sold to various and several pur-
chasers all of the property. rights, privi-
| leges, immunities and franchises which
it acquired by virtue of purchases au-
thorized as aforesaid. excepting the prop
erty. rights. privileges. immunities and
franchises of the Calais Water Company
aforesaid. and so much of the property
rights. privileges, immuntieS and fran.
| chises of the st. CroiX Electric Light &
Power Company as it acquired by assign
ment and transfer from the said Calais
Water Company of its lease from the st
CrolX Electric Light & Power Compa ny
as have not heretofore been sold by tho
| said Maine Water Company to the saif
Town of st. Stephen;
2. That the said Maine Water Compan,
has fully paid and taken up all of thu
ponds issued by it under the authority O.
law excepting certain bonds known a.
consolidated mortgage bonds. amountns
In par value to less than sixty-fiy,
thousand 05.0oo) dollars; the security fo
said outstanding bonds being the remain
ing property Of said Maine Water Com
pany as heretofore described, togethe
with the surplus, undivided cash belong
ing to said Maine Water Company de
posted with the said Maine Trust &
Banking Company. amounting to approx
mately twenty thousand (2o,OOO) dollars
and the franchises and privileges Of tn,
said Maine Water Company;
3. That the only plants now owned am
being operated by the Maine Water Com
pany are the plants located at Calais
of New Brunswick, which said plants be
came the property of the said Main.
| Water Company by purchase and Ieas,
as aforesaid from the Calais Water Com
nany and the st. Croix Electric Light s
Water Company: that one of the dutie:
imposed upon the Maine Water Compan,
| IS to provide water to the customers n
the Calais Water Company and the ST
Croix Electric Light & Water Compan,
at said Calais and at said Milltown Wev
Brunswick. for use for domestic purnoses
that in order to procure a proper sunni,
or water for such purposes it has becom,
necessary TO procure water from a differ
ent source than that from which sait
water has been heretofore procured
namely. the st. Croix River; and that i,
order to so procure said water a large ad
ditional investment Of capital is required
4. That said Maine Water Compan,
has received an offer for the purchas
and sale of it's said property. rights
prlviieges, immunities and franchise
| wnlch IT now owns and uses in Connection
with the operation Of the said plants a
Calais and at Milltown, New Brunswick
winch said offer it believes it to be fo
| It's interest and for the interest of ~
various bondholders to accept;
5. That said property is subject to tn,
mortgage deed of trust given BY sal,
Maine Water Company to said Main
trust & Banking Company heretofor
| mentioned; which said mortgage deed O
trust, dated July %, 1891, now stands +
secure the payment Of the outstandinl
consolidated mortgage bonds of sail
Maine Water Company to the amount O
approximately sixty-five thousand 5000
dollars; which said bonds have a consid
cradle number of years yet to run:
g. That the sale Of the remaining prop
erty of the Maine Water Company here
tofore described and being located a
Calais and at Milltown, New Brunswick
cannot be made. nor the purchase pric
thereof be released. by your complain
ants nor by any Of said bondholders. no
can title to the property to be conveye