Snyder v. Yakima Finance Corporation

This action was brought to recover on a promissory note and to have a receiver appointed for the corporation maker thereof.

The complaint contained the usual allegations regarding the execution, delivery, maturity and nonpayment of the note. As a basis for the appointment of a receiver, the complaint alleged that the defendant was insolvent; that the defendant held a large number of unpaid stock subscriptions; that its trustees had unlawfully paid dividends out of its capital; that no attempt had been made by the defendant either to collect such stock subscriptions or to enforce the liability…