Montcastle v. . Wheeler

This is an action by some of the stockholders, and the corporation, against the defendant as treasurer of the corporation, for an accounting and recovery of the assets of the company and a distribution of the same among the stockholders and the dissolution of the company.

The company had a paid-up capital of $1,850 and sold an option on some real estate in Moore County for $4,000, making $5,850 which went into tbe bands of the treasurer, as he admitted. He claimed to have paid out, or accounted for, all he received, and that he had paid the stockholders $1,866.95, and claims to be entitled,…