Truman v. Coghlin Machinery & Supply Co.

This case is here on appeal. Plaintiff, a stockholder in The Francis Machinery Company, brought this action on its behalf against The Coghlin Machinery & Supply Company, and William Coghlin and James A. Kirkby, its principal officers. Truman originally had a one-half interest, in The Toledo Auto Tool Company. Defendant Coghlin was president, general manager, treasurer and the chief stockholder of The Coghlin Machinery & Supply Company, a corporation engaged in selling tools and supplies. Kirkby was also an officer, and they and their wives were all the stockholders. *221Among their customers was…