Myers v. Oklahoma Oil & Gas Royalty Co.

Myers prayed for dissolution of the Royalty Company, a “declared” trust, but, of course, his equitable prayer for the greater relief included a petition for the lesser, which may be management of the trust under supervision of the court so that the business venture would be advanced.

The trust was organized in 1922 for business purposes, connected with the production of petroleum and its byproducts. Duration of .the trust was sought to be made for 21 years after the death of the last original trustee. The trustees consisted of five individuals. The shareholders, according to the agreement, had…