VAN VALKENBURGH, Circuit Judge.
Appellant is a Delaware corporation engaged in the business of manufacturing cream separators, engines, etc., in the state of Iowa. It was organized June 10, 1929, through a consolidation of two Iowa corporations whose assets it purchased and whose liabilities it assumed. It issued, at the time of its organization, 100,000 shares of Class A stock and 100,000 shares of Class B stock. Class A stock was preferred over Class B stock to...
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