Ogden v. Lowry

On January 1, 1953, McLowray’s, an Iowa corporation, owned, possessed and controlled a stock of merchandise located in McLowray’s Coast-to-Coast store, 609 Euclid, Des Moines, Iowa. January 23, 1953, a bill of sale for this stock was executed to one Omar Holland, who immediately took possession thereof. On March 12, 1953, Holland, by a Bill of Sale, transferred the same to the plaintiffs, who took possession thereof and have retained such to date. It is still located at the Euclid address.

On March 26, 1953, McLowray’s, by Julius W. Lowry, listed the stock of merchandise for taxation with the…