Zimmerman v. McMurphy

*655The opinion of the court was delivered by

Johnston, C. J.:

This was an action by the assignee of the' Farmers & Growers Shipping Association to establish a liability against the officers and agents of the association for mismanagement, negligence and tortious acts by which the association suffered loss and its creditors were defeated in the collection of their claims. Plaintiff recovered damages, and defendants appeal.

The association was organized in 1914 with an authorized capital of $10,000, but only $3,125 of the capital was paid in, and on this amount the association began business. On…