Maysville Tel. Co. v. First Nat. Bk.

Opinion op the Court by

Judge Hobson

Affirming.

Walter Matthews, Edwin Matthews, S. H. Mitchell and J. W. Chambers organized the Maysville Telephone Company, and owned all the stock except three shares which were held by another for Chambers. The capital of the company was fixed at $5,000, but they had extended their lines and improved their plant from time to time nntil they had spent nearly $50,000, and had a debt of *52$21,000 against the company for which they were personally responsible-. In this condition- of affairs, E. L. Barber; of Ohio; who had conceived the idea of organizing the Central…