[Download] "Planters Cotton Oil Co. v. Hopkins" by Fifth Circuit Circuit Court Of Appeals " eBook PDF Kindle ePub Free
eBook details
- Title: Planters Cotton Oil Co. v. Hopkins
- Author : Fifth Circuit Circuit Court Of Appeals
- Release Date : January 20, 1931
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
The consolidated return for the fiscal year ending June 30, 1924, of Planters Cotton Oil Company, Waxahachie, and Planters Cotton Oil Company, Ennis, unincorporated associations, 98 per cent. of the stock of which was owned by Chapman, showed a net loss of $206,031.03. Of this total, $182,284.86 was the loss of the Waxahachie company; $23,746.17 of the Ennis company. For reasons of his own not disclosed by the stipulation on which the case was tried, Chapman, in August and September, 1924, caused to be formed under the laws of Texas three corporations, Planters Cotton Oil Co., Inc., Waxahachie; Planters Cotton Oil Co., Inc., Ennis; and Farmers Gins, Inc., and to be transferred to them certain of the assets of the associations. In consideration of their transfer, there was issued to Chapman substantially all of the stock of the three corporations. These assets so transferred constituted the entire assets of the corporations.
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