Ebert-Hicken Co. v. Scott-Bevier Iron Mining Co.

The appeal is from an order allowing the claim of A. M. Bevier against an insolvent corporation.

In March, 1910, the Scott-Bevier Iron Mining Company was incorporated under the laws of this state. Some four years previously a mining lease had been obtained from the state to certain land near Tower, Minnesota, by the nine persons who became stockholders in the corporation. These parties had done some exploring upon the land at considerable expense. The corporation took over the lease, and in consideration thereof the nine persons received 300,000 shares of the capital stock of the corporation…