The Bridgeport times and evening farmer., 1918-08-09
JUDGE L.F. BURPEE DENIES MICHAELS INJUNCTION PLEA Wanted Information About Certain Affairs of Lake
 Company. TO SHOW AMOUNT
 OF INSURANCE Only Feature of Michaels' Demand Granted By the
 Court.

Judge Lucien F. Burpee of the Su- perior Court, in chambers at the county building, in Hartford, yester- day, heard the application of Henry Michaels of New York for a manda- tory injunction to run against the Lake Torpedo Boat Co.,, a Maine cor poration, which has it's place of busi- ness in Bridgeport, and which at the present time has contracts with the United States government for the manufacture of submarines and oth- CT craft. MT. Michaels is 8 stock holder of the company and the pur- pose of his proceedings was to get information regarding the affairs of the company which officers of the company had refused to give. He was represented by Spottswood D. Bowers and Judge Carl Foster of Bridgeport appeared for the Lake Co. Judge Foster agreed to furnish certain information that related to the i personnel, but nothing that related to the materiality of the company Judge Burpee directed that the com
 
 amount of insurance it carries, but with the exception of this feature and what Judge Foster said he was willing to disclose, all of the other demands of MT. Michaels were de- | nied.
 MT. Bowers on the opening, said his client has $2O,O0O invested in the | company. The capital of the com pany is $5,O0o,Oo0. The par value of the stock Is $10, and some of the holdings of MT. Michaels, MT. Bow CTS said had cost him greater than par. He had seen the stock go | above 50 and had seen 1t drop to 7-S a share. He had understood from newspaper publication that the company was engaged in building submarines as we'll as other craft for the government under a contract al 10 per cent. above cost. The pre- ferred dividend had been passed and :: MT. Bowers said in his opinion the ' information which his client asked would not embarrass the company neither would it give aid or comfor' to the enemy. The demand whicf his client made on the company wal outlined by him to Judge Burpee al follows:
 An inspection of the books ana papers of the corporation, a genera financial statement, liabilities of thu company, gross earnings, payment made during the fiscal year, name f and addresses and stockholdings o officers and directors, how long of fcers and directors have held offices . payments made by company to off cers and directors, how often doe executive committee meet and wha z pavments are made to its members do officers and directors receive an, l fees in addition to salaries, amour l of real estate, amount of good will I. amount of cash on hand, cash Ii |. bank, accounts. receivable, notes an
 other negotiable paper, securities ra1
 materials, completed work, work |
 process, accounts payable, notes pay - able. other obligations, sinking fupt
 replacement fund all other items O
 books of company, amount of tnsur
 ance, present replacement value
 property and assets names of em
 ployes receiving $7,50O salary an
 upwards, amount of working capita
 of company, thrilled orders now o
 hand, percentage of profits upo
 common stock earned during the las twelve months. In addition to whe
 has been outlined MT. Bowers said h
 understood there has been $2,00o
 GOO bond issue by the company an
 his client wanted to know about tha
 Judge Foster said he regarded it 8
 an outrage for any man who elaine
 to be an American to bring the con \ pany into court and ask 1t to reve;