Lofland v. Cahall

Pennewill, C. J.,

delivering the opinion of the Court:

The Lewes Fisheries Company was organized under the General Corporation Law of the State of Delaware (22 Del. Laws, c. 394) in January, 1911. Its authorized capital stock was two thous- and shares par value one hundred dollars. Its business was the catching of menhaden fish and the manufacture therefrom of fertilizer and oil. It acquired a site at Lewes, Delaware, built a factory and purchased a fishing steamer in the spring of 1911; and in the same year had two other fishing boats built for its use. Subsequently the company purchased other…