Reitz v. Owosso Finance Co.

Pursuant to agreement between plaintiff Richard E. Reitz and defendant Lawrence M. Holloway the Owosso Finance Company was organized in January, 1952, for the carrying on of a small loan business. Said company was capitalized at $15,000, Reitz subscribing for 70 shares of stock and Holloway for 80 shares. At a later time said capitalization was increased to $45,000 on the basis of like proportionate subscriptions. For some years the business was conducted by the parties with Richard E. Reitz, hereinafter referred to as the plaintiff, as manager. Two other loan companies were organized, known…