Read v. Tidewater Coal Exchange, Inc.

The Chancellor.

The points made against the propriety of the appointment of the receivers are, as stated on the brief of the solicitors for L.- C. Smith & Bros. Typewriter Company:

1. That the said the Tidewater Coal Exchange, Inc., was not incorporated under the laws of the state .of Delaware:(a) Because it was illegal to attempt to incorporate such an organization “not for profit.”(b) Because the alleged charter failed to state the conditions of membership in the alleged corporation.

2. That the alleged incorporation was a mere nullity for failure to come within, or to comply with, the laws of…