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PUTS ON THE CURB Supreme Court Makes New Rule About Corporations. Minority Stockholders Not Entitled to Receivers. EXCEPTIONSAREMADE Proper in Cases Where Institution Is Insolvent. Three Shawnee County Decisions Handed Down. a The Kansas supreme court which put today to the practice, of stop happens entirely too often, says stockholders in a business receiver's minority a going concern dissatisfaction into a the forcing hands because of business with the management of to seriously indepartment. The decision with the is likely operation of made the bank was suit terfere The decision by brought in the appeal of several the other minorW E. Feess and in the Mechanics stockholders The bank had ity Parsons a State bank of and was doing W capital of $50,000 Davis and C. good a business. Abner controlling interest Bradshaw owned a minority stockinstitution. The with the bank in the were dissa tisfied Oklahoma City holders deposits in an certain custombank making and in overdrafts. allowing The minority the stockholders its and affairs ers to make threw the bank into were some hands of a receiver At the trial it was shown transliquidated cashier had made blamed that the which he could be enough to actions for not serious the but which throwing were the bank into serloss warrant receiver and causing In its hands of a to the stockholders. reopinion ious the court said: may appoint a where "While a court application of minority ceiver on the the business SO been banking render stockholders. corporation has it insolvent it where and the mismanaged is as hsolutely to necessary business of to preserve or the property of the stockholdbank or interests not be appointed the receiver should solvent bank beers take a control of a or miscond luct to irregularitie rregularities or by cause officers of where such corrected and curthe or of misconduct the may board be of directors are capable or of bank ed commissioner, remedy by an injunction proadequate court of equity. ceedings in regularities a and misconduct of herein are 'The complained not to have of officers are held a considered the and court in assession appointing and control warranted to take the its owners. there authority receiver of the bank from in the court the plaintiff's Nor order was the payment assets of of the bank the attorneys to out of the majority of have of the law a the control of its a cor- distockholders and the majority to determine the to be policy and the affairs, rectors poration have power pursued and to minority manage long must act in and direct submit its to their judgment good faith so and apas the majority limitation of the law. in receiver within The action the of the lower is reversed court which and pointing the who brought the suit bank will the men the closing the The court, resulted pay in their attorneys in that many have to not say so majority while it does that the should words, indicates who had all their finances be al lowed to wrapped stockholder up recover in the damages bank for closing criminal the institution. away from nicalities reversing like Another cases step on slight the Missouri the proceedings, boodler the in releasing a out of the indictment A decision word 'the' was was taken left by the writ Kansas of habeas sucorpus McLean who county preme court was denied today to Wilbur is serving Lansing of entence Shawnee in the peni entiary grand at larcen: conviction for was under a information McLean of 'wearing lars. charged In the with the theft than twenty dol"We apparel worth more of guilty against The verdict find the defendant of is McLean read, larceny and find the nty-eight value guilty of taken to be McLean the the property contention of ver(28.00) The language of the some refers. attorneys dict is meaningless that to for indicate want of to what or word or character In the syllabus figures the court are it Where numbers a statement of says, used in connect tion be with understood as reThis value they are to unless different in- a ferring to dollars rule applies to tention appears. in a verdict in stolen larceny propstatement of the value of the insert the word case The omission to mark does not erty. the correspo bonding indefinite." 'dollars' render or the verdict disIn affirming of the Marshall decision of county death the in of at trict court damages for the mine n awarding Jesse Nelson in the the Kansas gypsum supreme Cement Blue Rapids, the America A. court criticised company and its once president, a Kansas Plaster Henley of Lawrence, of what the senator because scheme and subterstate court termed "a it to avoid liability by for its fuge to enable employees, caused Nelinjuries to its In July, 1908, the own negligence. while at work in near al was killed by the company suit son mine operated In response to the the d Blue Rapids the relatives while of Nelson was the brought by claimed that it was opercompany the mine that contract with owner of a written Jenkins, unated under Messenger and Jeb M essenger and John terms of which all the work in der the agreed to do gypsum rock to Jenkins deliver per ton, mine and stipulated price and the the mill at and Jenkins to worked employ in the mine Messenger the men who over them, n that discharge and have supervision of the mine to have reand the owners with anything men ennothing to the do safety of mining. the This ferred to the work of in 1897 begaged in was entered into Jenkins and the contract and comowned tween Western Messenge Cement Plaster the mine. The pany, Great which wed then that after the bought Amerievidence sho Plaster company charged n can the mine Cement contended essenger was by the company the old and it was continued under that the n. nor that trangement. Jenkins The that court neither says Messenger any Jenkins evidence shows were possessed of
