Norwich bulletin., 1920-12-20
DANEISoN


 and Rubber company of Akron O., and ! incidentally the Goodyear Cotton Mills, Inc. with a big plant at Goodyear in | this town, the local company being one ! of the principal subsidiaries Of the par ent concern.
 | Press despatches published Sunday l told of a suit filed by Frank S. Monnett l. l of Columbus, former attorney general of Ohio, against the Goodyear Tire and Il Rubber company and all of its directors | and subsidiary companies, domestic and foreign, asking for an accounting and l the appointment. of receiver. MT ] Monnett is a small stockhoider, owning | only 45 shares of the preferred issue of l tho company.
 He charges the directors with mal- feasance in office. The main burden of the petition is placed upon the orsaniza- tion of the Goodyear Investment com pany which Mir. Monnett states is own ed by the directors and members of the executive committee of the Goodyear Tire and Rubber company and which he alleges has been used as a means of making enormous profits.
 He claims that the company has 1 bought properties at excessive prices in various parts of the country and has suffered immense losses on transactions, fixing these losses as high as S32,oo0,. | oeo
 He also claims that the 2 12 per cent l dividend that the company issued this past fall was sent out when there was 1 no surplus to pay the same that the | company derived funds through borrow l ing money through the sale of stock. | MT. Monnett also claims that in July l of this year the company issued a 150 1 \ per cent. stock dividend of in excess of s31, 0o0oo0. in common stock and states that there was no legal authority for \ such issue as the company was II | a Ill \ same. A despatch from Akron that appear ed on Sunday describes the Monnett De tition a. spite" action against the \ rubber company. the president of Good year Fire and Rubber F A Siberling
 declaring that his concern lis absolute ly solvent having not onlys sufficient as-
 sets to pay every dollar of it's entire
 outstanding preferred stock, leaving \ many millions of dollars for the common \ stockholders Like many other of the country.s
 large industrial concerns, the Goodyear N Tire and Rubber Company has felt the
 need for ready cash because of the pres ! ent curta ilment of credit and a tenpor- \ ary depression affecting business, gener- \ ally. As means of meeting this pres ent situation -,and with the purpose of : caring for it's present obligations and providing for it's permanent financing a 'd plan has been worked out to the entire Ill satisfaction of it's officers. which will be l. presen ed at special meeting of. the d. stockholders already called for Dec A. as 1920. < '.=
 If this plan be adopted by the stock oh holders, as we fully expect it will the he officers and directors believe the future as Stability and prosperity of the company
 will be assured and the interests of all a it's 8 ockholders, both common and pre- h. ferred.- fully protected.
 nd Tt seems to us that tho instigators ,e, of this action had a deliberate purpose 'e- in view to embarrass the company in it's efforts now being made. as above stated ne to protect the stockholders.''
 re- '"The Goodyear Tire and Rubber Com
 pany. will as soon as the court can heal the same and at the earliest possible ce, time. move for dismissal of this un
 warranted action"
 rec Mrs. James Gordon. who has beer
 brought back from Providence to an rec swer to charge of Kidnapping, is hel, ,as at the jail in Brooklyn in the custod, ~ of Deputy Sheriff Charles F. Aver at There is to be hearing of her cas-
 before Justice Frank NJ. Redard of tn to town of Brooklyn next Wednesday af ,n- trenoon The action against Mrs. Cor ,+h don grows out of her coming to Brook ,nd lyu' early in November and taking DOS ,f session of her 3-year-old daughter Vers gre and taking her out of this state t er- Rhode Island. The child was in the GUS
 tody of Anna Witter Moffi-t of Brook
 lyn as guardian. by, approval of tn
 Brooklyn probate court
 The body of Antc.ie RuErerie, AS. (
 Brooklyn, was forwarded from tn fn place Sunday morning to Mount Vel
 non, x. Y., where services will be hel day and burial will take place MT. Rus
 gerio died Saturday evening after bein the i'll with lockjaw which developed aft. om- he had mangled his hand while opera the ing a weodsawing machine He leav, tie his wife and ten children. He had bee ary a resident of Brooklyn for several year ary number of relatives and friends a, 'eth cornpanied the body to New York. Pretty Christmas cards sf . reli<is, ,.r+ nature distributed to hundreds who a
 tended masses at St. James church ( tbe sunday brought greetings from Rev. ]
 J. Glnet. M. S., the pastor Rev. Jof his+ Roux, NJ S, and Re1. 'Auguste Chapi mac, NJ S., his assistants; also renl s at der that this Christmas season mari
 the silver annivef fsary of the coming i, this parish of the Missionary order +bis Lasalette. During the 25 years of Il
 administration of. the parish under il ford direction Of members of this order son .od remarkable changes and great proyre
 have been brought about. A new chur v ., was erected, twenty years ago a ne ,-.. rectory and new convent proper
 valued today at about s16e 900 A ne
 cemetery, Holy Cross was acquired a, spi developed and many improvements ma nta7 to St James parochial school and t first property on Franklin and Water stree nore notwithstanding. the unusual expent
 lures in connection with the developme
 of the parish property it is all free - debt, and the parish now in position @ undertake, at an early date other dev, opment work, which will include t
 erection of parish building, which "
 occupy a site at the westerly corner
 Franklin and Water streets, this, site f gift of the Quinebaug company, throu
 J. Arthur Atwood. ,@.
 Basketball fans saw . hexIy e.Stsyt
 game in the town hall Saturday eyeni
 when Connecticut Mills just nosed s
 ! a victory over the South ; Mariches,
 team, one of the fastest seen here in
 long time. Were it not for the in ju
 to Russell, one of thA South Manches-
 players, who threw out a hip during
 contest this being recurrence of
 old injury, the outcome of the gal
 might have been different As it V
 Conn. Mills won out by score of
 to 2s. Manager Robert Pellerin has
 Crescents :. of Norwich another f;
 team, scheduled fer an early appeara-
 here.
 Being unable ts get the steam Rerr
 unloaded here last week under the c
 taee street bridge, the Connecticut co