MATTER OF HARRINGTON v. MILTON C. JOHNSON CO.


283 A.D. 865 (1954)

In the Matter of Margaret T. Harrington, Appellant, v. Milton C. Johnson Company, Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

April 20, 1954.


Order unanimously reversed and the motion granted.

The appellant owns approximately 44% of the outstanding stock of the respondent corporation, which she inherited from her husband following his death in 1948. The husband during his lifetime was an officer and employee of the corporation. Since his death the salaries of the three officers and directors have been increased over 50%. Five of the respondent's salesmen are stockholders. In 1952 this group received a total...

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