Witbeck
Gila Water Co. v. Witbeck
Opinion
Lead Opinion
Dietrich, J.
This is an appeal from an order appointing, with broad powers, a receiver for the Gila Water Company. The company is the owner of more-than 75,000 acres of land in Arizona and of a canal system headed by a dam in the Gila river, constructed to supply water for the irrigation of the land. The plaintiff, *176 Ruth Witbeek/ is the holder of a small amount, 125 shares, of its capital stock, and in her complaint she alleges that she brings the action not oniy in her own behalf but upon the behalf of Arthur Ainsworth, Frank Ainsworth, and Sylvia Craig, who are her brothers and sister and each of whom also holds 125 shares. Plaintiff sues in her capacity as stockholder and not otherwise, and the burden of her complaint is mismanagement of the Gila Company’s affairs by its eodefendant Frank A. Gillespie who, since 1919, has been in control thereof as a majority stockholder. From as far back, at least, as 1901 down to 1919, C. F. Ainsworth, plaintiff’s father, and his immediate family held all of the stock of the company. The project was incomplete, and apparently for some time the enterprise had been dormant, when in 1919 Gillespie came into it under the circumstances briefly explained in…