Nichols v. Olympia Veneer Co.

— In January, 1921, the Olympia Veneer Company, a corporation, was organized, the by-laws evidencing that it was a cooperative organization. Article I, § 1, prohibits any stockholder from holding more shares of stock than any other member, whether acquired by original subscription, or purchase; Section 2 requires all persons excepting those whose names appear on the original stock subscription list to be elected to membership by a majority vote of the trustees ; Article IV, § 2, provides that a person shall be permitted to hold hut one share of stock; Section 3, that stockholders shall not he…