M. F. Parsley & Co. v. Cole & Miller

The complainant, M. F. Parsley Company, Incorporated, is a corporation with its principal place of business in Unicoi county, Tenn. Originally Mr. M. F. Parsley owned about one-third of its capital stock, and three other gentlemen owned the other two-thirds. Several months prior to November 1, 1922, Mr. M. F. Parsley bought the stock of the other three gentlemen and since then he has owned all of the capital stock of the corporation. This corporation sold lumber and building materials.

On November 1, 1922, and for some time prior and subsequent thereto, Mr. Parsley was the Chairman of the…