Davis v. Thomas & Davis Co.

Reed, Y. C.

The purpose of this suit is to compel three directors and officers of the defendant corporation to return-to the receiver of the Thomas & Davis Company all or a portion of the salaries-which these three directors voted to themselves.

The Thomas & Davis Company was incorporated on June 23d, 1898, with an authorized capital of $100,000. The corporate-purpose was the manufacturing of wall paper. Its works are located at Newark, Delaware. The property which afterwards became that of the Thomas & Davis Company had belonged to the-Delaware Wall Paper Mills Company. There were judgments…