Snyder

Findings of Fact

I

Plaintiff is an individual residing at Sherman Oaks, City of Los Angeles, California.

II

Plaintiff is now 59 years of age. In 1928 he separated from his wife, Becky, whom he had married in 1917. They had two children, Bernard and Geraldine. The separation was permanent. In 1945, plaintiff and Becky entered into a property settlement agreement and were divorced.

III

Late in 1940 plaintiff, who had been in the used-car business in Denver, moved to Los Angeles, California. There he, together with one Lou Wallace, hereinafter referred to as “Wallace”, acquired a corporate charter by purchase and went into the used-car business. The corporation, California Car Company, hereinafter referred to as “the corporation”, had been organized in 1939, but had done no business prior to its acquisition by plaintiff and Wallace in 1940.

IV

The total investment in the corporation was $2,500. Sixty per cent of the stock was issued to Sam Snyder, twenty per cent to Wallace, and twenty per cent to one Max Mosko. Each 20 per cent was represented by only one share. Plaintiff made his investment in the corporation with his own monies brought by him from Denver, and with…