Arcola Sugar Mills Co. v. Burnham

BRYAN, Circuit Judge.

This is an appeal by the Areola Sugar Mills Company, a Texas corporation, from a decree ordering its dissolution, and appointing a receiver to dispose of its assets, pay off its liabilities, and distribute any surplus remaining among the stockholders.

The decree is based on appellee Burnham’s bill in equity which avers that he owns 400 shares of the corporation’s capital stock; that the corporation had abandoned the business it was created to carry on; that Miss Kate Scanlan, the principal stockholder, had taken possession of all its property, collected and converted to…