Wilmington Steamboat Co. v. Sturgess

AVIS, District Judge.

This suit is an action at law, brought by plaintiff against defendant, tried by the court without a jury by consent of counsel, and is based generally on the following statement of facts:

The Wilmington Steamboat Company (hereinafter called the plaintiff) on May 1, 1916, purchased all of the capital 'stock of five other corporations for the agreed sum of $261,655.63. Among the corporations whose stock was so purchased was the Merchants’ Transportation Company (hereinafter called the company). Prior to this purchase, the stock of the company was owned jointly by Horace…