In re the Election of Directors of William Faehndrich, Inc.

This is an application pursuant to section 25 of the General Corporation Law to set aside the election of directors of William Faehndrich, Inc., held on January 9, 1956.

Petitioner, 77 years of age, founded the business of the corporation in 1912. The certificate of incorporation was filed January 20, 1926. It provides for capital stock in the sum of $5,000 represented by 50 shares of the par value of $100 each. Prior thereto, since about 1912, petitioner had conducted the business in his own name. Petitioner transferred the said business to the corporation and received in exchange, therefor…