State Ex Rel. Brooks v. Overland Beverage Co.

SUTPHEN,' District Judge.

This action was submitted to the trial court upon a stipulation as to the facts, and there is no dispute in that respect. Briefly, in chronological order, the respondent Overland Beverage Co., Inc. was incorporated under the Business Corporation Act of Idaho on June 13, 1933. The articles recited, among other provisions, “that the amount of authorized capital stock of this corporation shall be $250,000.00 divided into 2500 shares of common stock of the par value of $100.00 per share, which shall be non-assessable.”

Under date of April 16, 1934, the corporation issued…