Lancaster Loose Leaf Tobacco Co. v. Robinson

Opinion of the Court by

Turner, Commissioner—

Affirming.

In 1913 appellant, Lancaster Loose Leaf Tobacco Company, was incorporated by W. D. Lancaster, George Bentley and G. W. Robinson, wbo were .the only three original stockholders. In 1914 Lancaster .sold his stock to J. F. Vickers, and thereafter Robinson was elected president, Vickers vice-president and Bentley secretary and treasurer.

The purposes of the organization of the corporation, as stated in the articles, are as follows:

“To maintain and conduct a warehouse for the receipt, storage and sale, on commission or otherwise, of leaf…