Schwarz v. Lee

. CONNER, C. J.

The record discloses that, in the early months of the year 1922, Robert A. Lee, Charles Sherwin, and H. H. Schwarz executed and had recorded three several instruments called declarations ofl trust; to wit, one named General Lee Interests No. 1, dated January 3, 1922, another named General Lee Interests No. 2, dated February 9, 1922, and, finally, one named the General Lee Development Interests, dated April 12, 1922. The first was capitalized for $25,000, the second for $18,000, and the last for $250,000. The sole basis for the capitalization of the General Lee Interests Nos. 1…