Leblanc v. Beard Paper Co.

Because of the nature of the questions involved, it becomes necessary to set forth an unusually long statement of facts. Prior to November 6, 1939, George A. LeBlanc, appellee, was the owner of one half of the 1,000 shares of outstanding-common stock of the Beard Paper Company, one of the appellants, and of 75 shares of its preferred stock. The common stock has. a par value of $1 per share, and the preferred stock is $100 par value. The other 500 shares of common stock were owned by Donald' E. Beard, Ruth M. Beard, his former wife, and other members of the Beard family. LeBlanc and Beard ran…