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Show -KING GUN. D1RECFDBS ASKED TQSUE SPi W. D. Fassett, in Annual Meeting, Protests Allow-" ing Extra Compensation. TT. D. I'assett, a stockholder, in the annual meeting of the Silver King Consolidated Con-solidated Mining company, held yesterday, yester-day, filed a vrritten demand that the directors of the company bring suit against its president, Solon Spiro, for approximately $5-5,000, alleged to be due from Spiro to the company. Mr. Fassett submitted an itemized statement of the amounts making up this total. Fassett also in the same document protested pro-tested against the approval bv the stockholders stock-holders of the action of the Board of directors di-rectors vrco granted Spiro $20,000 in cash and 20,0u0 shares of stock, worth ' approximately $40,000, for extra compensation. compen-sation. Mr. "Fassett formally demanded that action be taken to set aside this action. Mr. Spiro vras represented at the meeting by H. R. MacMilian. F. K. 2ebeker and V". M. Bradley. Mr. Fassett Fas-sett was represented by E. C. Ash ton. There was voted in support of Mr. Fassett Fas-sett 30.602 shares of stock, whieh lost by a large majority. It is understood t nat Mr. Fassett will bring leeal ac tion along the lines of his protest, which is as follows: Salt. Lake" City. Utah. February 27. 1915. To the Silver King Consolidated Mining Company of Utah: The undersigned. V. D. Fassett, a stockholder of the above named company, hereby demands that an ai tion be commenced by the above named corporation and in its name against Solon Spiro for the purposo of compelling the sid Spiro to account ac-count for certain allowances heretofore here-tofore made by said company in cash and allowances maue to the said Spiro on certain alleged and pretended counter . ciainm for special services alleged to l.a vti been ' performed by the said Spiro for and on behalf of the si id company com-pany and particularly for the sums allowed as setoffs and counter claims against assessment Xo. 5 in the sum of $11,070.01, as shown by credit voucher Xo. i25; for the sums allowed as Ptofts and counter coun-ter claims against as-escment X'o. 6 in the sum of $ I v-;7 j a1 shown bv credit vouchor X'o. 47; for the sums allowed as per of f s and counter claims agair.sr a --ssrnent X'o. ! in the sum of $14,142.65. ris shown bv credit voucher X'o. oKi, and for the sums allowed ay setoffs and co'iner laims asninst assfsn-in assfsn-in p n t X" o . , in the sum of $13,065.35. a ihown by credit voucher X'o. 6 J5, for the rf-n son that said claim--;, and each of them, are wholly fictitious, fraudulent, and without warrant in law; and, further, for the sums allowed as setoffs and counter claims aL'ain.-t assessment Xo. 7, in the sum of $14,150, as shown by credit voucher vouch-er X'o. 512. for a certain com-p com-p r e c ? o r . drills, mining car?, galvanized gal-vanized pipe, lumber and pip; lit.-tings. lit.-tings. upon th tronnd that 1lm said Solon Spiro has not transferred trans-ferred to the abovt named corporation corpora-tion tho title to said articles or to any uf the same and that if any property has been tran.-fcrred to the above named corpora tion by said Solon Spiro, the underpinned is informed and believes, was turned over to the above named corporation at a price and valuation valua-tion excessively disproportionate to the value of such property; and tho underpinned hereby dem:mN that an at ion be brought fr tho purpose pur-pose of settinir aside the action of the board of directors of the above named company in voting the aid So ion Spiro epeclnl coin pen --a tion in the sum of -JO.fit'in cash and H'.0Q shares of tho treasury stuck of tlip alinve named comnany on the ground th:it said potion w.-in unlawful, un-lawful, void an 'I of no r-1 f-rr, uv done at the intrincp and under the dire--tion of the sat Solnn Sidro and frr his benefit and in fraud of the rights of' the rninorit v stockholder- of the above named mr-poi mr-poi a t inn, and part imla ry in vinla-tion vinla-tion of the rights of the nnd"r-s nnd"r-s i (.TT'd. You rs repi-ct f u 1 1 v. (i2npd) W. I). l'ASSKTT. |