Kappers v. Cast Stone Construction Co.

The question presented by the demurrer involves the construction of sec. 180.11, Stats., which, among other things, provides as follows:

“(3) But no corporation organized under chapter 180 of the statutes shall take or hold stock in any other corporation except upon and with the assent of the holders of three fourths of the capital stock of both the corporation proposing to take such stock and the corporation in which it is proposed to be taken.”

Upon the first assessment levied by the directors of the *630Schneider Construction Company twenty-eight shares of its capital stock were paid for by the…