Show SUIT OVER OVERSTOCK STOCK FILED FILE D Grocery Company Com Corn Complains Complains plains Against I Skaggs and Holt Suit wai tas a filed 1111 late yesterday tn 1 the district court by the Murph Wholesale Grocery company ot o f Ogden against 0 P Skaggs own own- owner owner fd er ot of o the Skaggs chain stores and an d George A Holt a partner In the business s and gentral manager of o othe f the Skaggs store In Silt Sett Lake seeking to recover au and 1 In- In Interest in interest terest lerest whIcH I Is Iv alleged to be du duthe due the plaintiff till an Illegal 1 stock transaction It Is ts alleged that on May 10 I Skaggs and Holt loll purchased purchase 07 shares of capital stock or orthe o othe the grocery company from various stockholders to which the stock had been Issued when the com com- company company company pany organized organised d They surrendered the tho stock to the company and had hadIt hadt hadit It t transferred In their names name It itis itIs is charged d and on July 20 1923 they sold it to the Murphy com com- company com com- company company pany and took back bach from the treasury of the compan company The taking of this money from the treasury the plaintiff alleges crippled the company so 0 it was as unable to pa pay its obligation in full when it ceased operation of ot actual business The plaintiff now seeks to hale haH the 25 a 00 returned to the treas treas- treasy treasury ury Uly and the stock reissued to and Holt on the thc ground that the transaction transactions was as Illegal Inasmuch as the law holds that a cannot invest Its cap cap- capItal capItal cap capital ital in its lis own stock because It brings about the diminishing of its assets unless the articles of o in- in are amended at the time lime The plaintiff that the articles s of Incorporation were ere not Ilm amended when hen the stock was as turned In b the defendants and the amount paid pad them the Murphy Mur- Mur It H was as explained that phy h hi GI Y company Is still an Ogden COI although not actually engaged In business s at this time 00 00 I |