First National Bank v. Fireproof Storage Building Co.

Vermilion, J. —

The appellant the Fireproof Storage Building Company, a corporation, was organized in 1907 by E. E. Manhard and the appellant F. J. Fowler. 200 shares of com mon st°ck of the par value of $100 per share were isstie(l, of which the incorporators each originally owned 100 shares. The articles of incorporation provided that the affairs of the corporation should be managed by a president, a vice president, a secretary, and a treasurer, and a board of not less than two nor.more than five directors. The general nature of the business to be transacted by the corporation, as fixed by…