Humphrey v. Baron

Prior to his death, one J. B. Humphrey was the owner of 175 shares, or one-third of the entire stock of the Cascade Laundry & Dry Cleaning Company, of Sioux City, Iowa, hereinafter called the Cascade Laundry. Humphrey died testate in May, 1927, leaving as his sole beneficiary his wife, Ida M. Humphrey, the plaintiff herein, who is the executrix of his estate.

The evidence shows without conflict that prior to his death the company had been losing about $500 per month in the operations of said laundry.

On June 29, 1927, the plaintiff, as executrix and sole beneficiary of his estate, sold his…