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  5. 327 S.W.2d 81 (1959)
 

COMMISSIONER OF REVENUES v. WILLEY PLANTING CO.

No. 5-1858.

327 S.W.2d 81 (1959)

COMMISSIONER OF REVENUES, J. Orville Cheney, Appellant, v. WILLEY PLANTING COMPANY, Appellee.

Supreme Court of Arkansas.

Rehearing Denied October 5, 1959.

Attorney(s) appearing for the Case

Herrn Northcutt, Little Rock, for appellant.

W. Stuart McCloy, Memphis, Tenn., N. J. Gantt, Jr., Pine Bluff, for appellee.

ROBINSON, Justice.

Appellee, Willcy Planting Company, was a corporation engaged in farming, ginning, etc. It had large land holdings and other assets. In December, 1954, the stockholders decided to dissolve the corporation, and adopted a resolution to that effect. The nature of the business was such that the assets could not be disposed of and the affairs of the company wound up in a few days. Accordingly, the resolution to dissolve provides that liquidation was to...

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