YOAKUM INDUSTRIES, INC. v. CALVERT

No. A-11573.

414 S.W.2d 171 (1967)

YOAKUM INDUSTRIES, INC., Petitioner, v. Robert S. CALVERT et al., Respondent.

Supreme Court of Texas.

Rehearing Denied May 3, 1967.


Attorney(s) appearing for the Case

Guittard, Henderson, Jones & Lewis, O. F. Jones, III, Victoria, for petitioner.

Crawford C. Martin, Atty. Gen., Kerns B. Taylor, Asst. Atty. Gen., Don Bishop, Austin, for respondent.


POPE, Justice.

The question presented in this case is the same as that today decided in Humble Oil & Refining Co. v. Calvert, 414 S.W.2d 172. Both cases were jointly presented to the courts below because the issue is common to both of them. In 1957 Yoakum Industries sold its leather processing and manufacturing business, and since that time all of its income has been from interest...

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