Economy v. Roberts

Plaintiff, George Economy, filed a bill in the circuit court of Wayne county for the purpose of establishing a trust in favor of him self in certain stock certificates of the Lansing Cafe, Inc. In December, 1933, articles of incorporation were filed with the secretary of State for the Lansing Cafe, Inc. Its paid-in capital was $1,000 consisting of 100 shares of common stock with a par value of $10 each, all of which was subscribed for by Edith P. Lanoue. Shortly afterwards the cafe was opened for business under the management of N. Calvert with Edith Lanoue as his assistant. It is plaintiff’s…