Evening journal., 1919-09-12

! That the Lewes Oil and Chemical Com
r pany has never paid or delivered TO the
Lewes Fisheries Company any considera-
e tion for the said steamer, factory, plant,
b lands and promises and unexpired lease.
e That Robert Pennington is the president
3 OF the Lewes Oil and Chemical Company,
s William C. Lofland is vice president and
manager and James 7. Lank is treasurer
} Of the company. That Pennington, Lof-
J land and Lank are also directors and
holders of large amounts of the capi-
tai stock of the said company.
} That Harland NJ. Joseph and William
f. Tunnel are stockholders in the Lewes
! Oil and Chemical Company and Pening-
ton. Lofand, Lank, Joseph and Tunnel
control the company.
That the Lewes Oil and Chemical
Company has been operating the steamer
j. Clifford and the factory since Sep
tembeT I. 1917 up 10 the filing OF this
bin of complaint.
That the operation of the steamer
and factory has been exceedingly pro-
fitable and great quantities of oil. scrap
and bait have been manufactured and
sold for large sums of money and that
another large quantity of the product
is now on hand and unsold in the pos
session of the Lewes Oil and Chemical
Company
That the Lewes Fisheries Company
was entitled in equity and good con
science to the product of the aforesaid |
factory during its operation as aforesaid, |
and to the moneys derived from the sale |
/ thereof, but that the Lewes Oil and |
Chemical Company and Lohand, Lank |
and Pennington as the officers of the |
company have unjustly deprived the
Lewes Fisheries Company of the same,
and uniustly and Wnlawfully refused to
account for the same to the Lewes Fish
cries Company or to your Orator, and
uniustly refused to deliver the same or
any part thereof to your Orator.
That by reason of the facts hereinbe-
fore set forth the said Lewes Fisheries
Company was entitled in equity and
good conscience TO the factory, and the
lands and premises used in connection
Herewith and to the steamer James NJ.
Clifford, up TO the time of the appoint
ment of its Receiver and your Orator as
the receiver of the company is now en-
titled to the possession and control of :
the same. But nevertheless the Lewes ,
Oil and Chemical Company and Lo1and, /
Lank and Robert Pennington, as officers,
have from September ], 1917, continued
and are in possession and control of
the factory, lands and steamer, under
control of the aforesaid fraudulent con- ,
vcyances thereof and have failed and re- :
fuse TO deliver up the same or any part
thereof TO your orator, pretending the
same TO be the property of the Lewes y
Oil and Chemical Company.
That in further execution Of their
fraudulent scheme Lofland and Lank. by :
and with the cooperation of Harland NJ $
Joseph and William L. Tunnell secured !
the adoption of a resolution by the 1
Board of Directors of the Lewes Fish g
cries Company on September /, 1917, q
that il was advisable and for the bene
tit of Lewes Fisheries Company that it n
be forthwith dissolved. and ordered a C.
September %, 1917, at Lewes, to take il
action on this resolution. n
That at the meeting the consent of W
two-thirds in interest of all the stock q
holders of the company was obtained for a
the said dissolution by means of the un- d
lawful acts and Misrepresentation of o
Lohand, Lank, Joseph and Tunnel. ~
That thereupon the various steps pre- "A
scribed by Section 80 of the General :,
Corporation Laws of the State were !,
taken BY the officers of the company, =,
and the Lewes Fisheries Company be- u
anne and was dissolved under the pro-
risions OF said section 80 on October 8, -, ~
9l7.
That after the dissolution of Lewes ie
fisheries Company LoAand, Lank, JOS
ph, Tunnel, Boolhammer, Baylis and n
Thompson being the directors of the IA
at said time, pretended TO nc
ettle the affairs of the company as the m
rustees thereof. III
That the seven defendants were and tn
re guilty of gross breaches of their I
uties as such trustees, that they mis- w
hanged the affairs of the Lewes Fish er
ries Company, that they concealed a be
lrge portion of its assets. diverted a ar
lrge amount thereof from the company af
nd the stockholders thereof, and failed su
nd refused 10 demand and take action
o recover the property and moneys Of IN
-hich the said company had been un- n
lstly deprived as hereinbefore set forth. 60
That the defendants acting as the ho
rustees of the company, wrongfully 10
reated the 90 and 42O shares OF stock
{ the company unlawfully issued to H
themselves as set forth in this Bill of "
omplaint. as if the said 90 shares had
cen issued legally, and wrongfully paid
D themselves as holders of the said
larcs large sums of the money of the
,mpany of a pretended distribution of de
ie assets OF said company among the ge
ockholders thereof a
That the wrongful payments made on lie
ie said 30 and 420 shares of stock by tn;
ie seven defendants to themselves as Ch
'oresaid aggregate SS4. $50 and upwards. int
That the seven defendants have failed
nd refused to account for or pay over eni
the Lewes Fisheries Company, or your en-,
rator as Receiver of said company, the lul
oneys so wrongfully paid on the said the
ares.
That the seven individual defendants in
the directors or trustees of Lewes fol
sheries Company paid a large sum of bro
oney out of the funds of the company san
Federal taxes based on the aforesaid Cy
etended sale of the factory and Ra,
Gamer Clifford and the pretended pay ard
ent of the price thereof by Robert II.
whereby the company was 4
priyed of a large sum of money. up Phi
lrds of $4,000. That the loss of the GaI
id money to the company was the bet
'ect result of the fraudulent acts and iste
nduct of the defendants as hereinbe- pas
re set forth. "Dt
After citing additional instances r
lere the defendants are alleged to OF
We failed and refused 20 account for ASS
d to pay over sums of money, the dol
7 of complaint also states that the cerl
PENDANTS have failed and refused to -
count for or deliver up the property oral
assets, certain books and papers dec,
I'd inc a saH