Depositors Bond Co. v. Christensen

Prior to the year 1925, Robert A. Sym-monds, who had studied business and financial subjects, became known as a lecturer on these matters, and during 1925 and succeeding years obtained a large following. Depositors Bond Company, a corporation, and a party to this litigation, was organized during the year mentioned, with Mr. Symmonds as its president.

Two years later, another corporation, known as Mutual Benefit Club, was organized, all of its stock, with the exception of qualifying shares issued to its directors, being owned by the older corporation. The club functioned as an educational and…