Towle v. Commissioner of Banks

This case, reserved upon the bill, answer and agreed statement of facts, arises out of the following circumstances:

On January 7, 1920, the Cosmopolitan Trust Company was the tenant of premises owned by the plaintiff Towle, under two leases (of different parts of the same building) which had a little less than seven years to run. On that date it was agreed that said leases should expire on April 30, 1922, and thereafter occupancy of these and additional premises should be under a new lease with somewhat different terms. This agreement was pursuant to a vote of the trust company’s directors and…