Davis v. Davis Trust Co.

Maxwell, Judge:

By the terms of an agreement dated January 1, 1905, John T. Davis and the other stockholders of Davis Colliery Company sold to Coal & Coke Railway Company all of the capital stock (20,000 shares) of the colliery company at the price of $2,000,000' to be paid at the option of the purchaser, and until the exercise of the option, which was indefinite as to time, the purchaser was to pay, after the year 1908 (there • being less amounts stipulated for the years 1905-1908, inclusive), the sum of $80,000 per annum as interest on the amount of' said purchase price. The contract…