233-5 West 125th Street Corp. v. Hoey

CLANCY, District Judge.

Plaintiff was organized on April 12, 1916. The purposes stated in its charter were generally improving, managing and dealing in real estate. The first meeting of the incorporators occurred on April 19, 1916. The following day it leased for twenty years a parcel of land to which it had already acquired title and a theatre which it agreed to erect thereon. Some time before 1928 it owned an apartment house which was sold in that year. Other than that apartment house it has never owned any but the theatre property.

A new lease for fifteen years was negotiated and executed in…