Hurley v. Universal Clay Co.

"WALKER, J.

This is an appeal from the overruling by the Circuit Court of Jackson County of a motion to set aside an order approving a receiver’s report of sale.

A suit bad been instituted in said circuit court by plaintiff as a shareholder, for the appointment of a receiver for the defendant, the Universal Clay Company. The petition alleged that the individual defendants, who were in official and actual charge and control of the property of the company, had not paid for their capital stock therein and had so wasted and mismanaged its affairs as to render the appointment of a receiver *410necessary…