Stony Brook Lumber Co. v. Blackman

Opinion by

Mr. Justice Walling,

The plaintiff, Stony Brook Lumber Company, a corporation chartered in 1910, was located in Sullivan County, with an authorized capital stock of $200,000, divided into shares of $100 each, of which 1,500 were issued. The defendants, Blackman and Hughes, were respectively president and treasurer of the corporation and Frank E. Carter was vice-president and general manager of production, from its organization until August, 1915. They were also the directors of the corporation, the original by-laws limiting the number to three. Defendants owned eleven hundred shares…