Beall v. Pacific Nat. Bank of Seattle

The Pacific National Bank of Seattle, as executor of the estate of Harry S. Bowen and as trustee of three trusts created by members of the Bowen family, representing, in the aggregate, approximately eighty-eight per cent of the capital stock of Puget Sound Fabricators, Inc., offered the physical assets of the corporation for sale. A vice-president and trust officer of the bank was a member of the board of directors of Puget Sound Fabricators, Inc., and active in promulgating the sale of the corporation’s assets.

An offer to purchase was made by John E. Beall and associates. Negotiations were…