Jones

These cases were submitted together under stipulation of the respective parties that the records in the two cases be used interchangeably, including the affidavits contained ip case No. 2477, and that the- judgment of this court therein apply to and be determinative of the companion case.

The suits were brought on the 25th day of October, 1913, by the Merchants’ & Insurers’ Reporting Company, a corporation organized under the laws of the state of California for the purpose of acquiring, holding, and owning stock in other corporations, which thereafter, according to. the averments of the bills and the admission of the parties, acquired all of the stock of two fire insurance corporations that were organized under the laws of Arizona, namely, the Bankers’ Fire Insurance Company and the Phoenix Fire Underwriters except four shares issued in the names of the persons who served as directors and officers of those corporations, of which shares the complainant, according to the allegations of the bills, was the equitable owner, one of which persons had, prior to the institution of the suits, ceased to be a director.or officer, leaving three directors- only, namely, Leroy H. Civille, C. S.…