Hivick v. Hemme

Opinion by

ESTES, O.

Parties appear here in the same order as in the trial court. The Producers Lead & Zinc Company, a corporation, had constructed a mill for mining lead and zinc on its property, plaintiff being an officer and director, and defendant a stockholder. On May 19, 1919, the company being largely indebted, the directors passed a resolution providing that subscription be circulated among the stockholders:

“To pay off certain indebtedness due the McNeal Machine Company and the Landreth Machine Company, and insurance and other incidental indebtedness, the principal part of which is…