Vinson v. Continental Supply Company

Opinion op the Court by

Commissioner Hobson

Affirming.

In March, 1921, Tom Hayes procured from Margaret Stump an oil and gas lease in Lawrence county, and thereafter began to drill for oil and gas on the premises. On October 24, 1922, Hayes and wife executed to the Union National Bank of Sistersville, W. Va., a mortgage to secure his indebtedness to that bank in the sum of $10,000. The mortgage was duly recorded. Thereafter, on April 19,1923, the Milton Oil, Gras and Products Company was organized; Tom Hayes transferred to it the Margaret Stump lease, and received from.it two stock certificates,…