Chapital. v. Walker

This appeal involves the ownership, of 41 2/3 shares of the capital stock of Supreme Industrial Life Insurance Company, Inc., an industrial life insurance company created under the laws of this state in 1941 and having its domicile in New Orleans. All of the stockholders in the said company are colored persons.

The capitalization of the corporation is one thousand shares of stock having a par value of $10 per share. At the time of the transaction hereinafter discussed, the stock was equally, or about equally, divided between six persons, namely: Raleigh J. Coker, Frank J. Walker, Lucien V.…