City of Spokane v. Amsterdamsch Trustees Kantoor

The opinion of the court was delivered by

Anders, J.

The Spokane Falls Water Power Company is a corporation organized and existing under and by virtue of the laws of this state. Prior to May 20, 1895, it was the owner of certain real estate in the city and county of Spokane, upon which it appears there was a valuable water power. On that day it sold and conveyed said real estate, together with all its franchises and privileges to an alleged domestic corporation known as the Northwestern Milling and Power Company, for the expressed consideration of $150,000 in cash and 2,500 shares of the…