Wilmarth v. Hartman

In January, 1917, the American Stock Food Company was organized as a Michigan corporation for the purpose of conducting a hog ranch near Grand Rapids on which the garbage of the city was consumed, taking over the business of defendant Hartman and one Alvah Brown who had previously been conducting it. By May of the following year the corporation had become indebted to the Grand Rapids National City Bank in the sum of $26,500. Defendant reorganized it, interesting new capital, among which was plaintiff’s, and some of the old stockholders retired. The sum owed the bank was then guaranteed by the…