Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-13
SAYS HAvNER SOUGHT TO
BOOST HIMSELF INTO OFFICE
eY PACKING SUIT.
ATTORNEY FOR PROMOTERS
PLEADS FOR CLIENTS
Says If Company Is Liquidated IN
der Receivership Stockholders Will
Lose Heavily on Their Investments
Eleven Suits For Return Of Money
Invested in Stocks.
,c,o, - mines RepubIican.

Special to Times Republican.
Des Moines, Oct. 13.-The finish IN
the Associated Packing Company
hearing which has been on here for
more than seven weeks is now on
with the attorneys in the case pre-
senting their arguments to the court
The taking of testimony was conclud-
ed Monday night.
Judge w. b. Quarton of Algona
who has been the attorney for the
interests all thru the hearing which
favor the discharge Of the receiver
and the reorganization of the COM
pany, presented his arguments to
the court Tuesday. Attorney General
Havner began his arguments late
Tuesday and Is continuing today. ThS
arguments are limited to two days
by order Of the court.
Judge Quarton declared in his plea
that in his opinion Attorney General
Havner was influenced by politics IN
his attitude toward the, case.
"If the attorney general had been
really anxious to do the state ana
the stockholders good. he should have
taken the packing company case
into court earlier than February.
said Judge Quarton. II think an >ex-
PLANTATION of why he waited until
February lies I'M the statement OF
Attorney Frank Wisdom, of Bedford,
who said to Havner some time be-
fore the petition was filed. IF you Will
get receiver appointed for this
company the people will elect you
governor in spite Of yourself.
Total Loss If 1iquidated.
Quarton declared chat il the COM
pany is liquidated the investments
Of the stockholders will be total
loss, and quoted John Weber, OF OF
tumwa, representing about $4,000.
In stock held by Kicking" stockhold-
ers, in support Of this view. He ar
gued that if every stakeholder should
come into the reorganization plan In
the ratios that prevail among those
who have already accepted it. re-
firing stockholders can be paid or
and there will remain $1,s22,495 Of
unimpaired capital stock Under
liquidation he said there would be
q loss to the company of $4,000
which would not occur under re-
organization.
He urged that, irrespective OF every
other issue, 1t has been demonstrat-
ed that receivership for the COM
pany issnot now necessary and stat
ed that Seven II Judge Mccall does
not approve the 1906 plan he can
discharge the receiver and turn the
company back to its stockholders.
Eleven suits for the recovery Of
first payments for stock in the As
ISOLATED Packing Company and also
notes issued for the payment Of the
balance of their subscriptions were
filed in the district court here Friday.
The total Of both cash and notes
which these parties seek to recover
is $29,s00 Of which 1875 is cash and
the remainder, or $22,435 is in the
form OF notes.
The petitions were filed by Attor-
ney General Havner representing the
state and the defendants named are
the Associated Packing Company. r.
H. Frisby, Woolf Tietel, the Asso-
ciated Finance Company. w. G. Nc
Dougal and the Linden State Bank.
The compliments are mostly resi-
dents of Keokuk county.
Light Company Sues for Raise.
Special to Times Republican.
Usage Oct 12-ThomaS Terrio