Otsego Paper Stock Co. v. Brown

The plaintiff company was organized in 1918 for the purpose of handling waste paper products. The stockholders, all of whom were elected directors, were Samuel Slosberg, Eber W. Sherwood, William A. Mansfield and the defendants, Brown, Parker and Siple. Slosberg was elected president and Mansfield secretary-treasurer. All of the company’s business was conducted by Slosberg. It does not appear that any record was made of the business transacted at meetings of the board of directors, nor was any account kept of the receipts and disbursements except as they were shown by the account kept in the…