[Download] "Clark Et Al. v. State Street Trust Co. Et" by Supreme Court of Minnesota # Book PDF Kindle ePub Free
eBook details
- Title: Clark Et Al. v. State Street Trust Co. Et
- Author : Supreme Court of Minnesota
- Release Date : January 31, 1930
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
RUGG, C. J. The plaintiffs, as trustees under a declaration of trust created in 1919 under the name Boston Mexican Petroleum Trustees, bring this bill to recover money deposited by their assignors with the State Street Trust Company. The defendant Adams, by cross-bill against the plaintiffs and State Street Trust Company, seeks to recover the same money. The present controversy grows out of attempts by certain stockholders of the Boston Mexican Leasing Company, an oil corporation, to sell their stock to Adams, who was attempting to buy that stock because he owned a new process for cracking oil called the Adams-Day Process which he thought he would be able to sell to the French Government or to French capitalists, if he could obtain a large supply of crude oil to be used in demonstrating the value of his process and to be sold with it. To secure this supply of oil Adams wanted to get an option to purchase the stock of the Boston Mexican Leasing Company, the ownership or which would give him control of the larger part of the oil produced by the Harmon Well Oil property in Mexico.