Spence v. Sturgis Steel Go-Cart Co.

Defendant, as its name implies, is a manufacturing corporation of the city of Sturgis, engaged in constructing various kinds of go-carts. On June 29, 1917, its factory, machinery and equipment were destroyed by fire, compelling either construction of an entirely new plant for resumption of business, or liquidation. After some discord and delay the directors finally decided to rebuild and resume operations. Plaintiff was then one of defendant’s directors and mayor of Sturgis. His main business activities and interests were with the National Carbon Coated Paper Company, of which he was the…