James Clark McReynolds,
Bus Transport Securities Corporation v…
“ Jacobus caused petitioner to be organized and acquired all its stock in exchange for all shares of A and B corporations. Thereafter, petitioner transferred to Public Service Co-ordinated Transport Company these A and B shares, and took all shares of C. Easman Jacobus, Inc.Thus, petitioner, through Jacobus, Inc., came to control 2,500 of the projector's shares; and Public Service Co-ordinated and Transport Company became owner of all shares of A and B corporations. Through these manipulations, the projector obtained indirect control of corporations A and B and the lines which they operate. ”
