Wettengel v. Robinson

Opinion by

Me. Chief Justice Moschzisker,

The Riverside Western Oil Co., incorporated under the laws of West Virginia, maintained its principal office in Pittsburgh, Pennsylvania, where it kept its books and transacted its business. In accordance with a reso lution of the stockholders of this company, all of its property, except cash assets, bills receivable, etc., was sold in the fall of 1919 to the Transcontinental Oil Company, the consideration paid being 41,667 shares of the capital stock of the latter concern and $1,250,000 in cash. January 2, 1920, the corporate charter of the Riverside…