Batchellor v. Olmsted

HAZEL, District Judge.

This action in equity was brought by the receiver of the Buffalo Pitts Company to have canceled as null and void the transfer of certain shares of the capital stock of the ZEtna Combustion Company by the Buffalo Pitts Company to the defendants, and for an accounting of dividends paid. The answer avers that the shares of stock so issued consisted of 400 shares, of the par value of $100 per share, transferred- in consideration of services performed by the defendant John M. Olmsted in organizing the ZEtna Combustion Company, and for services performed prior thereto in…