Casteel v. Gunning

In the year 1913 Mr. Wylie E. Casteel and Mr. Thomas C. Gunning, Sr. initiated a retail drug business which they owned and controlled as equal partners. As time went by, they expanded and established a number of other drug stores. There was a corporation formed and the stock was equally divided between Mr. Casteel and Mr. Gunning. Thereafter, they made some stock available to the employees of the corporation. They also created two additional corporations to manage the real estate used or owned by the drug stores. Somewhere in the 1930’s R. M. Wiggs, Jr. became an employee and eventually…