Clipping:Pittsburgh Club ownership; stockholders lawsuit

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Date Tuesday, January 25, 1887
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The stockholders of the old Allegheny base ball club threaten to enter suit against the present club. The old stockholders claim that the present directors have [not?] the right to sell the charter of the club. A C. Hoyer has been engaged by the parties of the old club to file a bill in equity. He represents M. B. Lemon, Jas. Todd, Wm. Witherow and ex-warden Wm. Smith. Mr. Hoyer states that he will go into court alleging fraud and request that a receiver be appointed. He thinks that the old stockholders have been illegally ousted from the organization.

Some time ago a number of the old stockholders confessed judgment in the sum of $29,000. Upon this judgment the franchise of the club was sold. Those who threaten to enter suit argue that they were never apprised of the fact, that the club was in financial difficulties and that the sale of the franchise took place without their knowing it. The Pittsburgh Post January 25, 1887

The bill sets forth the plaintiffs were stockholders of the Allegheny Base Ball Club which, it is alleged, was fraudulently changed to the Pittsburgh Athletic Club. It is claimed that the old Allegheny Club was made up of 200 shares at $25 each. Owners of 183 of these shares confessed judgment for $30,000 and a sheriff's sale of the club was ordered. The owners of the remaining seventeen shares settled the judgment note and took possession of the club's franchise. The plaintiffs, therefore, claim that there was no necessity for a sale, and that they were never asked to advance money to settle the judgment note. The Pittsburgh Post January 29, 1887

A. C. Hoyer, Esq., says that he withdrew the suit against the Allegheny Base Ball Company for the old stockholders, only to have it in a new form, and have a master appointed. The Pittsburgh Post March 3, 1887

The suit of Thomas Hunter and others against the Pittsburg Club has been dismissed. The suit was brought to compel the recognition of the plaintiffs, who were shut out when the club was reorganized. The Sporting Life July 11, 1888

Source Pittsburgh Post
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Submitted by Richard Hershberger
Origin Initial Hershberger Clippings

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