Ferem

This is an action in equity by the minority owners of the American schooner “Wm. F. Garms” against defendant corporation, the majority owner and the managing owner, for an accounting touching their respective partnership interests in the úse and operation of the vessel. It had made two voyages. Its third projected voyage was "from Puget Sound to Santa Rosalia, Mexico. When a few days out from its domestic port it encountered heavy weather, was disabled, and was towed back to a Puget Sound pprt by the Puget Sound Tugboat Company. Shortly thereafter this last company libeled the vessel and her cargo for salvage, and by a second libel for towage. From neither of these libels was she released. Default was entered in the libel for towage and the vessel was sold for five thousand eight hundred dollars, the money being paid over to the United States marshal. At this sale the defendant, managing owner, bought the vessel. None of the minority owners appeared in either of the cases, nor has any of them since reacquired any ownership in "the vessel thus sold. In addition to the five thousand eight hundred dollars arising from the sale of the vessel, three thousand dollars was paid into court…