California Court of Appeal April 22, 1932, Docket No. 7233. (Kehlor v. Chesley Finance Co.)

HOUSER, J.

The salient facts upon which the judgment herein and the ensuing appeal depend are that, some four years after the defendant corporation was organized, and during all of which time it had been regularly conducting its business at a profit, it caused an assessment to be levied upon the outstanding paid-up capital stock of the corporation, for the asserted purpose of “conducting