MANTON, Circuit Judge.
The stockholders of appellant sold to the Scovill Mfg. Co. all the stock — 3,845 shares — of appellant for $21,147,500 paid in Scovill's 5% debenture bonds. Appellant thereupon became a subsidiary of the Scovill Co.
Prior to Scovill's purchase of appellant, the latter was bound by employment contracts with two of its officers for their services from 1925 to 1934. These officers were to receive, as partial compensation,...
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