Pasadena’s assets in part contained cash or the exact carbon copy of $8,798

The words „stockholder“ and „shareholders“ on By the-Laws and regulations met with the exact same meaning as such terms and conditions had according to the appropriate Ca rules. , 145 F. Supp. 146 (S.D.Ca.1956).

Article IV, section 2 (election out-of greater part of panel by stockholders) and you may Article IX, point 2 (repairing of dividends of the board out-of directors) off Of the-Statutes off Domestic Offers and you will Financing Organization

Home assumed Pasadena obligations from the amount of $73,618, and you may paid down $8,031, towards be sure inventory. Treating these two amounts because the purchase price off Pasadena, its complete try $81,649,. This amount of the full cost was apportioned so you’re able to bucks otherwise the equivalent and the equilibrium thereof, $72,851, try apportioned on leftover assets from the pursuing the styles:

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