Highbaugh v. Huff

Opinion of the Court by

Turner, Commissioner

Dismissing appeal as to J. M. Huff and granting appeal and reversing as to E. W. Huff.

Prior to the 30th of August, 1920, the two Highbaughs and Bailey were the owners of a ooal lease on a tract of land in Harlan county. On that day they organized the liarían Bituminous Coal Company, the two Highbaughs and Biailey being the incorporators. The capital stock was $20,000.00 and they thereafter sold the coal lease to the corporation and it issued to them $10,-000.00 of the par value of its capital stock.

On or about the 20th of October, 1920, the…