Rheinstrom v. Willcuts

JOYCE, District Judge.

This case was submitted on a stipulation of facts and oral testimony taken in open court. From the stipulation of facts it appears that on and prior to March 1, 1913, there were outstanding and issued 400 shares of common stock of the Cream of Wheat Company of the par value of $100 per share. There was no other outstanding stock of the company, nor were there bonds or mortgages against the property. The plaintiff herein owned four shares of stock. In 1929, in a noil-taxable reorganization, the Cream of Wheat stockholders received 600,000 shares of no-par value stock in…