Keifer v. Myers

Appeal from a judgment of nonsuit.

At the time in question the Sanitary Laundry Company was a corporation with a capital stock of $40,000, divided into four hundred shares of the par value of $100 each. Of this stock the appellant, J. H. Keifer, owned one hundred and ninety-eight shares, one George R. Myers owned one hundred and ninety-eight shares, and the remaining four shares were owned by three other persons, who, with said Keifer and said George R. Myers, constituted the board of directors of said corporation. The corporation was in financial distress, and it appears that neither…