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Vilas County News
Eagle River, Vilas County, Wisconsin
What is this article about?
In Chicago, 80-year-old retired merchant John P. Foss sued Peoples Gaslight and Coke Co. after discovering old stock certificates valued at $75,000 from the company's original $500,000 capital. He demands an accounting and receiver, claiming a proportional share of the current $35,000,000 capitalization.
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Aged Man Claims Big Increase in Gas Company Capital.
Chicago, April 21.-John P. Foss, a retired merchant 80 years of age, has filed a bill in the circuit court demanding an accounting with the Peoples Gaslight and Coke Co., and ask that the affairs of the company be placed in the hands of a receiver pending the conclusion of the suit he has brought against it. Foss, in searching through an old safe a short time ago, found three stock certificates in the original Peoples company, of the original face value of $75,000. The certificates are of the first stock issued by the company when its capital stock was only $500,000. The stock of the company is now $35,000,000 and Foss claims such proportion of the present capitalization as his $75,000 worth of stock bore toward the company's capital at the time of issue.
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Domestic News Details
Primary Location
Chicago
Event Date
April 21
Key Persons
Outcome
lawsuit filed demanding accounting and appointment of receiver; claims proportional share of increased capital stock.
Event Details
John P. Foss discovered three old stock certificates worth $75,000 from the original Peoples Gaslight and Coke Co. when its capital was $500,000. He filed a bill in circuit court against the company, now capitalized at $35,000,000, seeking an accounting and a receiver during the suit.