LEGAL TANGLE
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LOS ANGELES. Aug. 11. — The le
gality of the system of ‘‘pyramid con
trol'’ through which the destinies of
a corporation with widely held stock
are guided by a few persons through
holding corporations was the interest
ing legal point underlying the bitter
and long-extended Union Oil litigation.
Decisions upholding and denouncing
the system were cited by the fifteen
attorneys in the case, who included,
for the defence, former United States
Senator Frank U. Flint and T. O. To
land, and for the plaintiffs Francis
J. Heney and State Senator W. J.
Carr.
The plaintiffs not only maintained
the holding corporation system w’as
of Itself unlawful, but that if it was
justifiable technically, it had been
abused by the Stewart family in its
control of the Union Oil Company.
The case, legally entitled that of E.
D. Blinn and others against the Union
Oil Company, the Union Provident
Company, the United Petroleum Com
pany and Lyman Stewart and mem
bers of his family, went to trial on
April 6, 1916, before Superior Judge
Louis W. Meyers here.
On June 24 stockholders of the
Union Provident Company at a meet
ing at Oleum, California, adopted a
resolution providing for the dissolu
tion of the corporation, one of the
two holding companies objected to.
The assets of the Union Provident
were set forth as 155,990 shares of
the Union Oil Company stock and 64
shares of the other holding company,
the United Petroleum. The total issue
of the Union Oil stock is 340,922
shares, with a par value of $100 per
share.
Testimony was introduced tending
to show Stewart control of this $34.
000,000 by ownership of $4,000,000 of
stock in the holding companies.
One of the interesting developments
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For the Mechanic
WHITE’S ADZES AND HAND AXES
PISTON’S HAND SAWS
BAILEY PLANES
MAYPOLE’S HAMMERS
ST ARRET’S and YANKEE TOOLS
BUCK CHISELS
[
it) the trial was the revelation that
tSn $1,000,000 paid Robert Watchorn,
l treasurer of the Union Oil Company
by Kugene de Sabla, of San Francisco,
for an option on the Stewart interest
In the Union Oil Company eventually
found its way Into the coffers of the
Bible Institute of Los Angeles. The
Bible Institute has erected a large re
enforced concrete headquarters build
ing, embodying men's and women's
hotels, at a cost of considerably over
a million dollars. Testimony showed
between $700,000 and $900,000 actual
ly was turned over to the institute
by Watchorn and Stewart from this
source. De Sabla never exercised his
option. |
Under cross-examination, Lyman
Stewart testified de Sabia's million,
half of which was paid down and hnlf
in Installments, first was divided
among members of the family, but
later turned over to the Bible Insti
tute, or shortly before litigation re
sulting in the present suit was com
menced.
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The Border Line Transportation Co.
has let a contract for the Vancouver
Dredging & Salvage Co. to raise the
steamer Northland, which sank recent
ly at the wharf at Kake.
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Wm. Martin, a Willow Creek min
ing man, has presented the Anchorage
Chamber of Commerce with a 200
pound specimen of the ore from his
mine, which runs $45 per ton.
-:o:
A mass-meeting was recently held
in Long to protest against the poor
mail service and telegrams were sent
to Delegate Wickersham, asking for
a better service.
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Job Printing at Daily Times office.
LOCAL JOTTINGS.
A number of social affairs are be
ing held in Cordova these days.
The steamer Admiral Evans is re
ported hove-to In a fog off Seward.
No word has been received from the
Admiral Farragut since she left Se
attle. I
Cupid is busy these days, and three
or four weddings are scheduled to oc
cur within the next month.
The steamer Alaska is due here on
Monday on her return south, which
will be made direct from Cordova via
the outside passage.
The freighter Valdez will come to1
Prince William Sound from Nome next'
Tuesday, taking on ore at Ellaniar,
Eatouche and Cordova.
A number of improvements are be
ing made at the Windsor hotel, among
them being the fitting up of a suite
of rooms, with a private bath, on the
ground floor.
The entire interior of the Alaskan
hotel is being repapered and other
wise renovated, as well as a new res
taurant installed in what was former
ly the reading room
The steamer Alameda, which left
Seattle last Sunday night, is today
reported off Cape St. Elias in a fog
and climatic conditions will regulate
the time of her arrival in Cordova.
The work of constructing the clam
plant for the Pioneer Packing Com
pany at the ocean dock, la progressing
very satisfactorily, and the putting up
of clams will begin about Septem
ber 1.
Many are looking forward with
much pleasure to the dance which will
he given at Kagie hall tomorrow night.
These weekly affairs are becoming
very popular and thoroughly enjoy
able.
Undoubtedly (he happiest man in
Cordova last night was Howell 1.
Lewis, when informed of the fart that
he was the father of a bouncing ho j
Mother and son nre doing nicely at
the hospital under the care of Dr. W.
\V. Council.
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People going to Anchorage will find
the White House one of the most com
fortable and home-like places to stay.
This popular hostelry Is run by Mother
White, one of the old-timers of the
westward country, and all of her
guests are most hospitably treated.
The heavy rains of the past few
days have resulted In several small
slides along the railroad, the most
serious one being at Mile 9+, and to
day's train will not arrive until this
evening. The bridges between hero
and Alganak are also overflown with
water.
The sailing of the steamer North
western from Seattle has been post
poned until Sunday. She will only go
to the westward as far as Seward,
where the Dora will await her arrival.
From Seward the Northwestern will
go direct to St. Michael, cutting out
the run to Anchorage.
The steamer Umatilla, owrned by the
Pacific Coast Steamship Co., is sched
uled to leave Nome today, with a party
of down-river excursionists, who will
visit Seward, Valdez and Cordova. It
is said Attorneys W. A. Gilmore, Geo.
K. Grigsby and Geo. D. Schofield, a
trio of Nome politicians, are also
aboard this steamer for Cordova.
George Palmer, the veteran mer
chant of Knik, after being shown
through Captain Lathrop's $110,000 pic
ture show at Anchorage exclaimed,
“My, what a fine place this would be
to dry fish in.”
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Lost—A gold tie clasp with small
diamond setting. Return to this of
fice.
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For Sale — Water power washing
machine and wringer. Apply Jack
Way. tf
HOWARD ESTABROOK (PATHE)
"THE CLOSING NET."
At Empress Tonight.
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HELP WANTED.
Men and women wanted to work In
cannery by the hour. Apply Carlisle
Packing Co.
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Old papers for sale at the Times
office.
i— l
j Sheldon Auto Stage
1 SERVICE,
i CHITINA TO FAIRBANKS.
Starts Juno 15.
Cars Now Running Regularly, i
Weekly Trips.
Fare $75.00. .
40 Pounds Baggage Free.
Office: Chltlna Hotel, Chltina,
: Alaska.
INSURANCE
FIRE, MARINE, LIFE and ACCIDENT
Insure your property against fire in
reliable Insurance Companies.
We represent the Niagara, London,
Phoenix, Hartford, Northern, Globe
and Rutgers, and others; all strong
Board Companies.
We also represent the Maryland
Casualty Company, and issue Fidelity
and Surety Bonds.
Northwestern Realty & Trust Co.
TAILORING
CLEANING AND PRESSING.
Detmer's Woolens for Ladies' and
Gents' Suitings. Prompt Attention to
Remodelling of Ladies’ and Gents'
Suits. Reasonable Prices. Satisfac
tion Guaranteed.
GRAVES & VAN.
Phone 130. Mickelson Building.
Empress Theatre
FRIDAY, AUGUST 11.
“THE CLOSING NET.”
A Pathe Gold Rooster Play in Five Parts, Featuring Howard
Estabrook, Bliss Milford and Katliryn-Brown Decker.
Show at 8 p. m. Admission 25 Cents.
For the Motorboatman
DAYTON DYNAMO
K. W. and WIZARD MAGNETOS
COLUMBIA HOTSHOT BATTERIES
BORER’S SEMI-ROTARY PUMPS.
SHEBLER CARBURETOR
EDISON’S CAUSTIC SODA AND OIL
Northwestern Hardware Co.
AGENTS CLAY AND GRAY MOTORS
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The Blum, O’Neill Co.
Headquarters for
Boat Supplies
Agents for
NATIONAL SPARK COILS
Type Star 1 Cylinder.$4.50
Type Wizard 1 Cylinder.5.50
Type 21-31 1 Cylinder.6.50
Type Star 2 Cylinder.8.50
Type Wizard 2 Cylinder..10.50
Type 21-31 2 Cylinder.12.50
The Auto-Marine 1 Cylinder 9.50
National Weatherproof 1 Cylinder 7.50
Wizard Magnetos
SPARK PLUGS: V-Ray, Champion,
Herz Mercedes, Johns-Manville and Rajah
Vulcan Heavy Duty Marine Motor 4 H P, Jump Spark
ALL KINDS OF SHIP CHANDLERY KATALLA GASOLINE and DISTILLATE
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:'U';SIS'. ifflffi^iaiEfc L,dUHffiii«E. «i:Si LJ!SSSCfa»!!5i,i:, ■ toSiii. .Si, i.*:.. .. -a# .
The "SILENT SMITH”
—Model 8 shows what should now be expected of a
t) A e.. liter.
N
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Boll Bearing; Long Wearing
The success of the L. C. Smith & Bros. Typewriters has
been due to the fact that the wants of the user have
dictated its construction. The user has decided in favor
of certain improvements now incorporated in Model 8.
Among them are:
Silence of Operation—The most silent running efficient
typewriter ever placed on the market. Absolute silence
has been very nearly attained.
Decimal Tabulator— A help in billing and tabulating.
There is no extra charge for this convenience.
Variable Li te Spacer— Enables the operator to start on a
! given line and space from point of starting; also to write
on ruled lines whose spacing varies from typewriter spac
ing. A great help in card work.
Faster Ribbon Feed—Insures new place of impacr for each
typeface.
Choice of Carriage Return—Upon special order the new
ileft hand carriage return will lie furnished in place of the
right hand return.
All the important features of previous models have been retained
— ball bearing carriage, typehars and capital shift, back spacer,
key-controlled ribbon, removable platen, protected type, flexible
paper feed and automatic ribbon reverse.
Write for New Catalog of Mcxlcl 8. It will explain why the
I.. C. Smith & Bro*. Typewriter is a •ynonym for superior service.
L. C. SMITH &. BROS. TYPEWRITER COMPANY
Factory and Haute fjice, SYRACUSE N. Y.. IJS A
E. S. HEWITT & COMPANY, DEALERS,
Juneau, Alaska.
4
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«.idiw)^ umny
We Understand *
MEN’S DESIRES, MEN’S NEEDS,
MEN’S REQUIREMENTS AND MEN’S
INCLINATIONS.
FOR THAT REASON WE ARE RECOMMENDING TO
YOU THE BEST LINES OF MERCHANDISE*
IN THE CITY.
CLAYSON’S
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WHY NOT OWN YOUR OWN HOME? I
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Many families are Paying out from $200 to $500 in •?
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| rent each year. Why not put that into a home of your ||
j!;i own? j:-:
Call on Geo. C. Hazelet, Trustee of the Townsite, and 4
see if it can’t be arranged. g
j <»X^»>y//X.»^.->V.VAX«VAW.VA^.W^.W.W.V.%W.W.VAV.V.V.V.VW...V.V.V.%v^«V. *3
M/hen Ordering Beer
—-=1 N SI ST ()N ========
Rainier Pale
FOR GENERAL TEAMING, BAGGAGE S
TRANSFERRED, AUTO SERVICE
COAL AND WOOD
i ALASKA TRANSFER CO.
•g Cordova and Anchorage
UNEXCELLED WAREHOUSE FACILITIES
For Storing and Insuring Baggage,
Mdse, and Household Goods
| Office—EMPRESS BUILDING, CORDOVA—Phone 85 |
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