AMERICAN MAIL LINE v. UNITED STATES

No. 49020.

101 F.Supp. 364 (1951)

AMERICAN MAIL LINE, Limited, v. UNITED STATES.

United States Court of Claims.

Decided December 4, 1951.


Attorney(s) appearing for the Case

James A. Cosgrove, Washington, D. C., for plaintiff.

H. S. Fessenden, Washington, D. C., with whom was Asst. Atty. Gen. Theron Lamar Caudle, for defendant. Andrew D. Sharpe and Lee A. Jackson, Washington, D. C., were on the brief.

Before JONES, Chief Judge, and LITTLETON, WHITAKER, MADDEN and HOWELL, Judges.


LITTLETON, Judge.

The American Mail Line Ltd., a steamship company, hereinafter referred to as the Nevada corporation, was incorporated under the laws of the State of Nevada on October 17, 1930, with an authorized capital consisting of 200,000 shares of no par value stock, of which 152,939 shares were outstanding on November 11, 1947, the date concerned in this proceeding.

In June of 1947 the officers of the Nevada corporation decided that it would be advantageous...

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