U. S. Grant Hotel Co. v. Kehias

delivered the opinion of the court. •

In order to provide a new and modern hotel in the City of Mattoon, the association of commerce of that city took steps to interest the business men and residents of that city, for the purpose of raising the necessary funds for the project. The plan finally adopted was to procure subscriptions to the capital stock of the hotel company to be incorporated thereafter when the subscriptions procured would be sufficient in amount to carry the enterprise into effect. The appellant, Louis S. Kehias, was one of the subscribers to the stock of the corporation to be…