Clipping:Pittsburgh Club ownership grab; challenging the grab
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| Date | Wednesday, February 2, 1887 |
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| Text | ...the old Allegheny Club confessed judgment for something over $29,000. An execution was issued and the franchise and effects of the team were sold on a judgment note. The note in question was a sight note made by the Allegheny Base Ball Club to the order of A. K. Scandrett, trustee. The same note was signed by Wm. A. Nimick, president of the club, and A. K. Scandrett, secretary. After the sale the Pittsburg Athletic Association, Limited, was formed with Messr. Nimick and Scandrett as half owners, J. Palmer O’Neill another stockholder, and a man named Garner as trustee for the balance of the company. Attorney Hoyer will attempt to prove that this transfer from the old organization to the new is illegal, and wholly without warrant. The original charger of the team omitted anything about its being an organization for profit, but rather specified that it was a company not for profit. Attorney Hoyer said yesterday that he intended to make matters very interesting before he quit. “We represent but seventeen shares out of the original two hundred, but we have rights that cannot be overlooked, “said Mr. Hoyer. “Although these people allege that a bona fide sale was made, the records do not show who the purchaser was, and the proceeds of the sale were but $30. We will also attempt to prove that when this judgment note was confessed there was no necessity for such a step. Last year the team made $12,000. Under the laws of the State they will be compelled to show that it was absolutely necessary to take this action in order to satisfy the pressure of outside creditors. If we can show the taint of fraud, when we confidently expect to do, we will throw the club into the hands of a receiver until our rights are recognized. None of our members were ever notified of an assessment, and even had they been they were only liable for the par value of their stock. They do not want to make anything out of the suit, but demand that their rights be respected.” The Sporting Life February 2, 1887 ...Under the old arrangement the stock of the club was owned by some two hundred stockholders, each and every one of whom had to have something to say in regard to the running of the club. The consequence was that at the end of the second season in the Association the players were running the team, and as a result they were very near the tail end, and while some hundreds of dollars were due the players the treasury was empty. It was then that the gentlemen who are at present interested in the club took charge and in return for liquidating the debts of the club were to receive all the stock. Some seventeen of the stockholders of the club refused to turn over their stock, and now that the team is a good paying investment, they would like to get a whack at the proceeds. It is needless to say that while the team was not a paying institution, these men were mum as oysters. It is hardly likely that they will get the whack now. The Philadelphia Times January 30, 1887 |
| Source | The Sporting Life |
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| Submitted by | Richard Hershberger |
| Origin | Initial Hershberger Clippings |
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