Columbia Compress Co. v. Reid

Appellees, fourteen in number, were all of the stockholders of the Magnolia Compress Company, a domestic corporation, owning and operating a compress at the town of Magnolia, in Columbia County. The corporation was dissolved on March 17, 1921, by the voluntary act of the stockholders by surrendering the charter in the method prescribed by statute (Crawford & Moses’ Digest, § 1823), and, there being no debts, all of the assets of the corporation, except the claim which is the subject-matter of the present action, were distributed among the stockholders. The reason for the dissolution of the…