Alameda Inv. Co. v. McLaughlin

RUDKIN, Circuit Judge.

Throughout the year 1922 the Hawley Investment Company, the Pacific Nash Motor Company, and the Alameda Investment Company were corporations organized and existing under the laws of the state of California. During that period Stuart S. Hawley owned or controlled substantially all of the capital stock of the Hawley Company; the Hawley Company owned or controlled substantially all of the capital stock of the Motor Company; and Hawley and the Hawley Company owned or controlled 73% per cent, of the capital stock of the Alameda Company. An additional 25 per cent, of the…