Hess v. Cedarhome Lumber Co.

The Cedarhome Lumber Company is a corporation organized under the laws of the state of Washington. It was originally incorporated with a capital stock of $75,000, divided into 750 shares of the par value of $100 each. Of these shares, the appellant, F„ H. Hess, subscribed for 562% shares, and the defendant George A. Bell for 187% shares. At the time of the organization of the corporation, Hess paid on his stock subscription $15,000, and 75 of the shares were issued to him and 75 to his wife, J. E. Hess. Bell at the same time paid on his subscription $5,000, and 50 shares were issued to him.…