Green v. Gila Water Co.

On December 8, 1913, C. F. Ainsworth, who was then president and one of the stockholders of the Gila Water Company, a corporation, which is hereinafter called defendant, gave his personal check for $2,136.29 in payment of taxes on certain land then belonging to the Santa Fe Pacific Railway Company, but under option from its owner to defendant and assessed in the name of the latter. There was not sufficient money in the bank to meet the check, but it was paid and carried as a cash item. At that time and thereafter until the spring of 1919 the entire issued stock of defendant belonged to…