Blum Bros. Box Co. v. Stumbaugh

This action involves the personal liability of the stockholders of the Kennan Creamery & Produce Company, a domestic corporation. It appears that one R. A. Jesse operated a creamery at Kennan. He became financially involved, and insolvency was imminent. Jesse induced citizens of the vicinity, who were interested in a continuance of the creamery, to organize a corporation to take over the business. The Kennan Creamery & Produce Company was organized. Articles of incorporation were filed, and before twenty per cent, of the stock was paid in the defendants were elected directors and entered into…