Mansfield v. Reserve Oil Co.

WATSON, Chief Justice.

This is a proceeding as to the exact nature of which counsel differ. For purposes of this appeal we shall take it to be, as appellees claim it is, an insolvency proceeding, seeking an adjudication against Reserve Oil Company, a New Mexico corporation, an injunction against continuance of its business, and a receivership.

Plaintiffs are the owners of something more than one-third of the 300,000 outstanding shares of the corporation, and plaintiff Mansfield claims to he a creditor.

After the pleadings were in, the cause went ■ to trial before the court. When the plaintiff…