Farmers' Union Elevator Co. v. Wunchell, 13225.

• Decision Date: 11 January 1935
• Docket Number: No. 13225.,13225.
• Citation: 79 S.W.2d 928
• Parties: FARMERS' UNION ELEVATOR CO. et al. v. WUNCHELL et al.
• Court: Texas Court of Appeals

79 S.W.2d 928

FARMERS' UNION ELEVATOR CO. et al. v. WUNCHELL et al.

No. 13225.

Court of Civil Appeals of Texas. Fort Worth.

January 11, 1935.

Appeal from District Court, Wichita County; P. A. Martin, Judge.

Suit by Max Wunchell against E. C. Knox and others, as trustees for the Farmers' Union Elevator Company, a defunct corporation, and others, in which Mrs. I. N. Harrison and another intervened as plaintiffs. From a judgment for the original plaintiff against defendant trustees only, against plaintiff and interveners as stockholders, and for the remaining defendants, the corporation and trustees appeal by writ of error. On motion to dismiss the appeal.

Motion overruled.

E. L. Fulton, of Wichita Falls, and John C. Murphree, of Iowa Park, for appellants.

W. W. Shuler and Smoot & Smoot, all of Wichita Falls, for appellees.

LATTIMORE, Justice.

The appeal bond is claimed to be insufficient in the obligees named therein. The parties obligee to the bond must be those interested in the judgment adversely to appellant. Articles 2257, 2265, 2270, R. S.

Max Wunchell sued E. C. Knox, John Hirschi, W. F. George, and J. F. Boyd, the appellants, as trustees, having been the directors of a defunct corporation, the appellant Farmers' Union Elevator Company. Wunchell alleged that he was due salary for services rendered to these directors as trustees in continuing the business of the defunct corporation. He also sued in the same petition, by separate count, J. N. George and the First National Bank of Iowa Park, alleging that these, during the trusteeship of the other defendants, had participated in the squandering of assets of the defunct corporation, rendering uncollectable the debt sued on. In another count he alleged himself to be also the owner of stock in the defunct corporation and prayed for an accounting by the trustees of their stewardship and for damages for the squandering of the corporation's assets. Mrs. I. N. Harrison and Mrs. E. C. Knox intervened in the suit as stockholders of the defunct corporation and joined in the suit for an accounting and for judgment for the dissipation of the assets.

The trial court filed findings of fact, in which he found that certain assets had been unlawfully dissipated, and further found that the defendant directors were partners by virtue of their improvident conduct in the handling of the corporation's affairs upon the termination of the charter franchise, and that the plaintiff had rendered services to said trustees. However, the trial court denied the claim of the stockholders for an accounting, but did give the plaintiff judgment as a creditor against the said directors only for his debt. The trial court also rendered judgment that all the stockholders, both plaintiff and interveners, take nothing as such and that J. N. George and the bank, who were alleged to have conspired with the directors to dissipate the assets, go hence without day. From this judgment the plaintiff has not taken...