Campbell v. Santa Maria Oil & Gas Co.

This is an action brought by the assignee of one Kloeclmer to recover certain stock, sold for delinquent assessment under section 347 of the Civil Code. Defendant is a California corporation, having a capital stock of five hun dred thousand dollars divided into five hundred thousand shares of the par value of one dollar each. Plaintiff’s right to relief is based upon his allegations of certain irregularities in the assessment and upon his claim that there was an agreement that the stock in question should be non-assessable. The court found against plaintiff’s contentions. Judgment passed for…