Brown

Plaintiffs, as stockholders of the defendant corporation, sought an adjudication that an assessment levied upon their stock and a subsequent sale of such stock for nonpayment of that assessment were void. The court found that the assessment was valid; that, while there were irregularities in the proceedings leading up to the sale, yet plaintiffs were not entitled to relief because of noncompliance with the provisions of section 347 of the Civil Code, and that plaintiffs’ laches barred their recovery. Upon this appeal from the judgment based on those findings, plaintiffs urge that certain findings are not only not supported by the evidence but are contrary thereto, and that other findings not only do not support the judgment but require a different judgment favorable to their prayer.

First, the court found that at a meeting of the board of directors, all being present, legally convened on July 16, 1925, “said Board . . . made an order levying an assessment on the subscribed capital stock of said St. Paul Consolidated Oil Company in the sum of ten cents (10c) a share, payable on or'before the 17th day of August, 1925, to Louis Doerr, President of said corporation, at 94 South First…