NEW YORK TRUST CO. v. ISLAND OIL & TRANSPORT CORPORATION

No. 273.

34 F.2d 655 (1929)

NEW YORK TRUST CO. v. ISLAND OIL & TRANSPORT CORPORATION. Ex parte COMPANIA PETROLERA CAPUCHINAS.

Circuit Court of Appeals, Second Circuit.

June 24, 1929.


Attorney(s) appearing for the Case

William M. Chadbourne, of New York City (Clinton De Witt Van Siclen, of New York City, on the brief), for appellant.

Carl J. Austrian, of New York City (Saul J. Lance, of New York City, on the brief), for appellees.

Before MANTON, L. HAND, and CHASE, Circuit Judges.


L. HAND, Circuit Judge.

The Island Oil & Transportation Corporation, not being permitted under the Mexican law to own or operate oil-bearing lands within 50 kilometers of the coast, resorted to the device of organizing a number of Mexican companies, staffed with Mexican officers. It held all the shares of stock in these, except such as were necessary to qualify the directors, and conducted the business directly, either in New York or Tampico, by means of its own...

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