Williams v. Yellow Pine Box & Lumber Co.

— This is an action by respondent to recover the sum of approximately $7,000 for commissions for the sale of preferred stock of the appellant company and for the appointment of a receiver.

The appellant company was incorporated for $400,-000, $225,000 common stock, and $175,000 preferred stock. George H. Gray & Son are the owners of all of the common stock. The proceeds of the sale of the preferred stock were to he used in the operating expenses of the company. The respondent, Williams, *381at the time of the incorporation of the appellant company] was engaged to sell the preferred stock on a…