Stutz Motor Car Co. of America v. United States

BALTZELL, District Judge.

The Stutz Motor Car Company of America, Inc. (hereinafter referred to as the plaintiff), was incorporated under the laws of New York on June 22, 1916. On the same date plaintiff sold to Allan A. Ryan & Co., for $1,125,000, all of its authorized capital stock consisting of 75,000 shares of common stock, no par value. The money received from this sale was used by plaintiff to purchase all of the capital stock of the Stutz Motor Car Company of Indiana (hereinafter referred to as the Indiana Company), consisting of 1,000 shares of an aggregate par value of $100,000; such…