Show SHAREHOLDERS SAY THEY ARE fROZEN OUt our Want Vant Receiver for the Niagara Company S I t UNITED STATES STATES D DEAL AL 1 f CHARGES jr BT Y ME NG S A Q E 0 A complaint In equity reciting some sensational charges chares Involving the ne negotiations leading up to the acquisition of tl control of the Niagara Mining Ining Smelting stock by the United States Mining company was a flied filed fled In fn the district court yesterday by Attorneys Dey Street for their cli clients clients Ets elF Dolphin and a nd cI Theodore h G Wolf of or Scranton Pa Pa 4 The lain Iain tiffs demand that a receiver of the af at a fairs fars of ot both bOUl mining companies be ap appointed appointed pointed d and other oJ F S relief be granted them thern themI The Th q court urt fixed next I Wednesday hearing the return on the order issued Iss d to both defendant i companies s show causes caus why a re receiver celver should not not be appointed a as I I prayed for forIt praye S Sit It I Is recited in the complaint that of the capital capital stock of the Niagara com corn company company I pany shares shares haVe been ben issued and that the te United States Stat e 5 Mining company secured about shares aba by purchase a couple of ot years ears ago thus giving the he Unit States company compan control of th Niagara stock stocka and ad a d its is property which Is situated at Bingham anSI and an adjoins the th property of the chief defendant defend nt company The Th I plaintiffs allege anese that they own shares of the Niagara company compan pay I ing In 2 a share tH e the same me figure i that tat the United States States Is al I leg d to have paid for tor the control The plaintiffs suing for themselves es and all al other minority stockholders who I I may m care cate to join them be then ten charge that immediately utter after th the United States 1 company secured the control of the Niagara stock the manage management maae management j ment of o the purchasing company compan de depressed depressed pressed the value of the outstanding shares of o 0 the Niagara company by I ceasing work on tm the Niagara property and resorting r to every eer endeavor to tomake tomake tomake I make the minority holdings valueless It I is further charged charge in the Complaint that the United States State company has for I several months past pst used sed the th Niagara property to merely merely drive tunnels toward the workings of the ther pert perty in control notwithstanding that the Niagara era ara ar mine has haR large reserves of valuable valuable I able ore easy of access Another allegation of the plaintiffs Pl is that when wh n the United Slates States CIany I secured control of the Niagara stock it ousted the duly qualified directors I and and installed s own crea Hon timi by placing its It s and clerks in the directory director and ard these have it is 1 I charged placed the alu e of at the prop property erty er at ut a merely nominal figure j The he minority shareholders in the Niagara company declare de Iare t th at t they the are fast being driven to a a position where here their interests in tere ts wi soon sn be ronde to appear as a asin an n assessment instead n tead of a a dividend and it is charged that the present directors of the subordinate company purposely defaulted in the payment of interest on the Niagara mortgage bonds amounting to so that h United Unie States company which is JS s said tid id to be e the owner own r of these bonds bond now could foreclose on I Ithe ithem them the and thus secure complete control I of af the property i It I is pointed poi t out in the tho ec complaint O l that the purchase of one mining I Istock stock by another an ml is i without authority of law law and and contrary I to 0 the articles of incorporation of ot the United States Mining company cR pany and hence the tle demand that the t e absorption of their control be declared illegal and void Besides praying i S for a a receiver rec h for both of the th mining g companies Dolphin and Wolf demand dem nd that tha th United States company be b required to 1 deposit t all al of its holdings of Niagara stock sock with the court and ant that it i be I restrained restrain d from selling or otherwise I of such suc shares share The plain plaintiffs tiffs allege alee also ls that they the have loaned the Niagara company and for forthe fot forthe the te purpose of df their status statu as a minority shareholders in th that t company c m atU they pray pra that the United States Stales St be required to return fr tn Boston Bon O n the Niagara com anys bo of account Practically all of ot the stock in both companies is held In the eastern ea tern states I |