Hamilton
Ke-Sun Oil Co. v. Hamilton
Opinion
Lead Opinion
Wilbur, J.
The'Oeneral American Tank Car Corporation brought an action against the Sunburst Oil & Refining Company for the appointment of a receiver for the management of the affairs of the latter corporation. It alleged that the Sunburst Oil & Refining Company, which wo will hereinafter refer to as the “oil company,” is indebted to it upon an unsecured claim for $76,517.62 for rent of its tank cars. It alleged that the oil company owns and operates an oil refinery at Great Falls, Mont.; that it owns large interests in oil and gas lands, leases, royalties, and oil well drilling equipment, tools, appliances, and a large stock of refined gasoline, fuel oil, road oil, and other petroleum products largely stored at the refinery; that it is the owner of ac *216 counts receivable; that the oil company’s property is worth approximately $1,726,000; that it has issued stock of the par value of $2,230,605; that its outstanding indebtedness is approximately $811,000; that of this amount $280,000 is secured by a mortgage, and $100,000 represents the taxes due to the United States, to the state of Montana, and diverse'counties; that $75,000 of the indebtedness represents judgments against the defendant;…