Phelps v. Consolidated Vermillion & Extension Co.

Lees, C.

The Consolidated Vermillion & Extension Company is a corporation organized under the laws of this state. On October 23, 1920, *211Richardson Phelps was appointed receiver of the company in an action brought to sequestrate its property. He presented a petition to the district court of Hennepin county, stating that claims against the company aggregating more than $300,000 had been filed with him; that its authorized capital was $900,000, divided into 450,000 shares of the par value of $2 each, of which about 400,000 were outstanding and owned by about 1,300 stockholders scattered throughout…