McJannet v. Strehlow Supply Co.

Defendant, a dealer in metallic tubing and couplings used in connection therewith, was incorporated in 1934 under the laws of this state with an authorized capital of six thousand dollars, consisting of sixty shares of the par value of one hundred dollars a share. The only stockholders and trustees of the corporation were plaintiff (its president), who owned thirty-one shares of the capital stock; J. A. Strehlow (general manager and vice-president of the corporation), who owned twenty-four shares; and Paul L. Neves (secretary-treasurer of the corporation), who owned five shares of stock.

Plaint…