Lowman v. Harvey R. Pierce Co.

Opinion by

Mr. Justice Sadler,

The Harvey R. Pierce Company began its business of dealing in surgical instruments in 1911, with a capital of $25,000, represented by 250 shares of stock, and the three directors, chosen in 1916, were the holders of a majority. One Pillings had an equitable interest in 72 shares, not assigned on the books of the corporation, and Lowman, the present plaintiff, owned 50, purchased in 1913, which amount he still holds. In 1914, the directors, and defendants here, increased their salaries from $30 to $35 per week, and in 1916 added $10 more. In 1917, the rate was…