| Show RECEIVER lr beina ASKED FOR emery county irrigation ent enterprises erp rises more than utah implement company and manager whitney can carry an action was tiled la in thu the district eurt ourt nt at suit stilt lake city last monday lo 10 which a ie is asked for the utah implement which waa was incorporated oa on december 13 1003 tho the plaintiff plaintiffs IQ in tho the case are john 0 ahara 0 L anderaon Ande And ereon P L wll wit llama John Sharp and anti W 0 sharp executors of tho the estate of john sharp Lc eased gustavo vo anderson lucy A jenson jensen M M miller samuel peterson and john sharp stockholders holders the defendants are the utah kruplo duent company 31 B WhIt troy Pey lent dent and director of tho the company halo hate 8 hutchins director di roctor and 0 M H forbes director it 1 Is alleged that tho the total liabilities of the ao are ro pud tho the assets to however includes a large nu number aber of notes that are atlue less it Is almod il that the liabilities exceed tho the assets by and that the company 1 is insolvent and stud it re colebr should bo be appointed up pointed charges of gross misconduct uro are anade in the complaint agalie prest dont whitney Whit noy artong which iro are that tho books 0 of tho the company have been falsified tho the funds of the company have been used to promote private on in which whitney was inter later sted that ha he has not paid for tha the 1189 shares ot stock la in the company which stand in bis his efine but that it has been paid for out ou ot of tho the business of the company it la Is alleged that he lias bas beon been permitted to transact buet bus in such a manner by und and forbes who with him constitute a majority of the baij of directors the complaint alleges that whitney haa has had the stock books of the company la in hia his control and that it la Is im I to tell who aro are tho the diners of preferred pre ferrod stock and that in to many cas ho he has turn stubs f from rom tho the stock books an allegation Is made that whit icy used tho name varno and credit of tho the company lu in the In depoo lent dent banit and ReBer reservoir voir company and the money and implements of the utah Iru company bavo have been glement used in t the e work for thi rel reino lr company tho same method la Is alleged to hai bavo a been used in organizing gan izing iho the emery land and W ater ter com company which succeeded to the property of tho the reservoir company within tho the last two years the emery land and company omo indebted d to t tho he utah implement com puny in tho the suin of and that certain notes of 0 the reservoir reset voir volt company have been indorsed by the implement company compan to whitney and nod placed by him in the deseret savings bank to secure a loan for to the implement company these notes have been falsely entered upon tho the books of the company to the personal account of president whitney Whit noy iho complaint also alleges that whitney issued his its personal nota to the implement company foi payable february 6 5 1907 that hutchins gave hia noto to tho the company for 1300 payable the same date and that 0 W laing gave his personal noto to the company for these notes it la Is alleged were accepted adeep ted by whitney Whit noy hutchins Hutch lne nod forbes the majority of tho the board of directors as payment of the indebtedness duo due the tho implement company from the in pendent canal and reservoir company tone lione of theao these nets were known to the other directors of the company tho total assets amount making tho greater thao than tho the assets included in the as seta sete are notes of no value so that it Is 1 alleged that tho the actual liabilities above assets Is to this indebtedness ess it Is claimed tho the company Is unable to meet and hence it Is in solent it ld I 1 i asked that a receiver bo be appointed for the company and that tho the do dendanto nd ants be restrained from collecting money duo the company and from pa pacing ing out any of the funds and frono froin in any way transacting tho the business of tho the corn company judge moreo morse issued an order citing tho the defendants defend anta into court next saturday to show causo cause why a receiver should not bo be appointed to take charge of the business of the company ipaty |
