| Show 0 AN ATTEMPT A TO RESTRAIN HILL HIU Attorney General of Minnesota Will Try to Prevent Issuance of Stock NECESSARY PAPERS FILED LAW LAV OF THE GOPHER STATE WILL BE TESTED St Paul P ul Deo Attorney General Young of Minnesota today began an action against the Great Northern Northern rail railroad 11 railroad l road to prevent the issue of of ot new stock recently authorized by bythe bythe bythe the board of directors A permanent injunction against the company its officers agents and ser servants servants servants Is asked for restraining them from proceeding in any manner with the proposed isue and from collecting amounts due on any an subscription there for or from taking any action to carry carryout carryout carryout out the plans of the stock issue until the company shall have made application application application cation in writing to the railroad and warehouse commission of Minnesota and procured its consent to that issue It also asks for a temporary injunction Injunction Injunction tion pending all aU litigation Original Capital The bill of complaint recites that the Great original authorized capital stock was that being the limit fixed by Its charter and that between Feb 1 1890 and March 1 1896 the defendant made several severa large Increases of ot stock until on March 1 1906 its capital stock aggregated sub substantially substantially That all these increases were first made without ap application application to the state railroad com corn commission commission mission as required by b law that de defendant defendant defendant has determined to again in increase increase Increase crease its capital stock this time to its stockholders having havin been invited to subscribe for their pro rata of same and that no application has been made to the state railroad commission Burden Upon Minnesota The attorney general contends that unless such proceedings are restrained not n t only will the state be deprived of ot investigating the propriety and pur purposes purposes purposes poses of the issue but that the com corn company company pany proposes to pay the same divi dividends dividends at the rate of 7 per pet cent on the increased as upon the present capital capitalization capitalization thus increasing the tile fixed an annual annual annual nual charges of the defendant by the sum of or a great portion of which will have to be paid by the roads Minnesota patrons The Great Northern officials were were served with the papers paper In hi the case this afternoon |
