Patton v. Nicholas

McDONALD, Chief Justice.

This appeal is from a judgment requiring Machinery Sales and Supply Company and T. W. Patton, the president and dominant stockholder thereof, to pay a dividend in the amount of $112,000 on the capital stock of the corporation.

The cause was originally instituted as an action by plaintiffs as minority stockholders for an accounting and liquidation of the .defendant corporation, whose president defendant T. W. Patton as majority stockholder was charged with mismanagement and maliciously suppressing payment of dividends. The District Court ordered liquidation of the…