Securities Inv. Co. of St. Louis v. Donnelley

OPINION

By the Court,

Bat jer, J.:

Wilbur I. Clark died on or about the 27th day of August, 1965, and the respondents were appointed and qualified as co-executors of his estate. At the time of his death, Wilbur Clark was engaged in a number of hotel enterprises including the development of a 310 room hotel in Austin, Texas, known as “Wilbur Clark’s Crest Hotel.” That hotel was being constructed by W. C. Austin, Inc., a corporation in which the decedent was a principal stockholder at the time of his death. The hotel was to have been operated under a lease to which the decedent was one of the…