Chapin v. Cullis

Albert E. Cullis, now. deceased, whose estate is made defendant, and John W. Watson, Herman Holmes, Andrew J. Short, • codefendants, and William R. Oates, Jr., were directors of the Rheinbran Brewing Company, a corporation formed in April, 1933, with an authorized capital of $250,000, of which $1,000 was paid in. Cullis, Short, Holmes and Watson each acquired $1,500 of stock. At the time of organization, defendant William R. Oates, Sr., held an option from the First National Bank of Sault Ste. Marie, Michigan, for the purchase of the real and personal property of the Soo Brewing Company. The…