The Birmingham age-herald., 1924-08-01
REALTORS SEEK. TO PREVENT SALE. OF ANNlSTONLAND.
Minority Stockholders Claim $323,OOO Purchase
 Price Is Too Low
(Anniston Bireau.)

ANNISTON, Ala, July 31.-Claim- ing that the purchase price of $323, 900 for the real estate belonging to the Anniston City Land company, which is in the process of being sold to new corporation formed by William A. Davis, IT,, 0. A. Hamilton and DIV. Pruet, was entirely inadequate, the minority stockholders have filed in- junction proceedings against the board of directors of the land company, seek ing to prevent the sale.
 Willett & willett, as attorneys for the plaintiff, filed the papers in circuit court today. An answer is expected to be filed by the defendant in the next few days. The case will be heard in the early fall.
 This proceeding, it IS pointed out, au- tomatically stops all negotiations for the transfer of the property, as it would be done entirely at peril of the defendants, and, ordin. lily in such in- stances, until the hearing has been completed and he question decided upon, no, further steps are taken in sale.
 The plaintiffs are named in the suit as follows: John D: Largarde, Bishop Allen of Mobile, Mrs. Susan T. Mcsdillan of Anniston, and Mrs. Jose phine N. Smith of Selma. These plain tiffs are minority stock holders in the Anniston City Land company, and rep resent 250 shares of stock, it is stated. The majority of the stock is said to be owned by persons residing in New York.
 The only grounds for objections to the sale is the inadequate price to be received, it is stated in the suit. The price of $323, 900, which is to be paid by the new corporation for the real es- tate of the land company, is approxi- mately but one-fo1rth of the real value of the land, the plaintiffs claim.
 Purchase Pipe COmpany-f,e f,egotia- tions have been under way for some time for the purchase of the Rabe Pipe and Foundry conRany of Chattanooga, by the Standard Pipe and Foundry com pany of Anniston, and the sale has been officially made.
 The Rabe Pipe and Foundry com pany is engaged in the manufacture of soil pipe and fittings, and is one of the largest of its kind in Chattanooga.
 The officers of the Standard Foun- dry company, which has purchased the Chattanooga plant are: Former Gov. T. sE. .Kilby, chairman of the board i; Maj. w. F. Johnsbn, president, and G. A. Hamilton, vicM president and gen. eraI manager. AS meeting of the of ficers of the corporation will be held in Chattanooga Saturday, at which time the policies of the company will be shaped and the personnel of the Chattanooga plan for its future will be selected.
 Indicate Tax Beaten-Returns from l9 beats in the county; received at the court house this moaning, indicated that the proposed additional one mill school tax was defeated at the polls "wednesday by Calhoun county voters Dy a wide margin. The returns re- celved today showed 571 in favor of the additional tax and 909 against the proposed tax.
 The voting was perhaps the lightest m many years, election officials from the various beats stated this morning In no instance did more than one-half of the voting strength turned out. it IS started The city of Anniston. which is beat No. 15, according to unofficial returns voted against the tax by majority te 16. The voting was very light in the city and returns from five of the boxes showed the vote to stand at IFS for the tax and 1894 against the tax. Friday at noon the voters will he canvassed in the office of Probate Judge Thomas w., Coleman.
 Clark In Annis ton -Benjamin M Clark of Birminl ham, field director of the Alabama Tuberculosis association was in the city Wednesday and today. conferring with Dr. G. A. Gryer. city health officer. '