Beasley v. Mutual Housing Co., 4872.
| Decision Date | 03 March 1930 |
| Docket Number | No. 4872.,4872. |
| Citation | 59 App. DC 245,39 F.2d 290 |
| Parties | BEASLEY et al. v. MUTUAL HOUSING CO., Inc., et al. |
| Court | U.S. Court of Appeals — District of Columbia Circuit |
Charles H. Houston, of Washington, D. C., for appellants.
George A. Parker and Benj. L. Gaskins, both of Washington, D. C., for appellees.
Before MARTIN, Chief Justice and ROBB and VAN ORSDEL, Associate Justices.
Appeal from a decree dismissing the amended bill of complaint filed by the appellants as plaintiffs in the lower court.
It is alleged in the bill that the defendant Mutual Housing Company, Inc., is a Delaware corporation, organized for the purpose of doing a general real estate business in the District of Columbia; that defendant Mitchell is its "promotor, president, general manager, director, majority stock holder and counsel"; that defendant Jernagin is its vice president and director; that defendant Atwood is its secretary and director; that defendant Early is its treasurer and director; and that the plaintiffs are minority stockholders of the corporation. It is alleged that plaintiffs bring the suit both personally and in behalf of all the other stockholders similarly situated; such stockholders being so numerous as to make it impracticable to cite them individually before the court, although the issues involved in the suit are common to them all alike. It is alleged that, after its incorporation, the company engaged in a general real estate business in the District of Columbia and purported to act as real estate broker and rental agent, and purchased and still owns various valuable parcels of real estate having an aggregate rental of more than a thousand dollars a month.
The plaintiffs charge that defendant Mitchell, as owner of the majority of the corporate stock, is in absolute control of the company, and has caused the election of a board of directors who are entirely subservient to his wishes; that he has caused illegal capital stock to be issued without consideration to himself and others, and has defrauded the company in various ways, including personal use of its property without compensation, and fraudulent reports of his financial transactions with the company. These charges are set out in great detail in the bill, but the present general reference to them is sufficient for the purposes of this opinion. The prayers of the plaintiffs' bill include an accounting, cancellation of stock, declaration of a lien,...
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...not ordinarily interfere. Rogers v. Guaranty Trust Co., 1933, 288 U.S. 123, 130, 53 S.Ct. 295, 77 L.Ed. 652; Beasley v. Mutual Housing Co., 1930, 59 App.D.C. 245, 39 F.2d 290; Maccarone v. Big Sign Shop, 1930, 59 App.D.C. 345, 41 F.2d 567; Fletcher Cyclopedia Corporations, Vol. 17, § 8425, ......
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