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BROWN v. WATSON

285 A.D. 587 (1955)

William S. Brown, as Trustee in Bankruptcy of Flood and Watson, Inc., Appellant, v. Wallace N. Watson et al., Respondents

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

April 12, 1955.

Attorney(s) appearing for the Case

Benjamin Brownstein of counsel (Harold Young with him on the brief; Siegel & Brownstein, attorneys), for appellant.

Cyril D. Wagner for Wallace N. Watson, respondent.

Sidney G. Madenberg for William F. Lang, respondent.

PECK, P. J., CALLAHAN, BREITEL, BASTOW and RABIN, JJ., concur.

Per Curiam.

The issuance of the stock of the corporation in return for entering the corporation's employ was a violation of section 69 of the Stock Corporation Law (Stevens v. Episcopal Church History Co., 140 App. Div. 570; B & C Elec. Constr. Co. v. Owen, 176 App. Div. 399, affd. 227 N.Y. 569; Palmer v. Scheftel, 183 App. Div. 77; Shaw v. Ansaldi Co., 178 App. Div. 589). While it may...

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