Commonwealth Brokerage Co. v. Oil Fields Corporation

Hart, C. J.,

(after stating the facts). We are of the opinion that the decree of the chancellor was correct. ■ .

In the first place, the evidence in the record shows that Gordon Ingalls and his associates, who organized the Commonwealth Brokerage Company and who owned all of its stock, were the managers of that corporation and also of the Oil Fields Corporation. Gordon Ingalls was the president of both corporations and managed the affairs of both of them. He was assisted by his associates, who owned the remaining stock in the Commonwealth Brokerage Company. No authority was ever given Gordon…