Patrons' Mutual Fire Insurance v. Holden

From its organization in 1901 to September, 1925, E. A. Holden was secretary and treasurer of plaintiff company, had general management subject to the approval of the president, possessed the confidence of the directors, and was the dominating figure in its affairs. The company wrote farm fire insurance, designating the risks as classes 1 and 2. In 1920, under a law of 1919, it began to write mercantile and other risks as class 3, Harold P. Holden was made superintendent of agents, a force of solicitors and reviewers of risks was built up, and approximately $3,000,000 of class 3 business was…