Bankers Trust Co. v. Rood

The defendant-appellant, The Monarch Company, is an Iowa corporation organized for the purpose of manufacturing equipment to be used in the care of hogs. Such equipment includes “watering and feeding troughs, oilers, houses, and other articles of a similar character.” This corporation has been in existence for many years, and, on March 21, 1921, E, .S- Johnson was president, while the appellee E....J. Rood filled the.position of secretary. On July 1, 1919, appellee W. B. Rood was a stockholder and director of The Monarch Company. Up to that time, the stock issued by the corporation was small,…