to rid ltsalf or all control ot . the T&xas utllltla8: coqanlao involved, and it cannot be ymasuzmQ at,thIe t&m that American aI 80 fail and * rarlwe to coelply. pUrther&re, it cannotbe addin 'ti~:that::AnorioaA, d ?~aIna.CorpomtioA, ie .,ona' T0a~s:Utllltleo, e Texas Corporation. .A~corporatIoA'Io a ~lagel.~entity, mated by law, h?Adis treated as an 63tity oaparnte aAd dletinct In ldontlty rxon t& otuera of Its aharos OS atook.' ~Tholronnarehip of such eharoa or stock &Ivec thm AO right to ~:norshIp of the essets of th3 ,corpora- tlon and they havs no',authorIty,to die ose~of theai tbs. :d .etockholdors orenot .liable i'or the deii ts of:;tha :covpora~~ i' ; tIOnI 'the contx'actual 'Ziti]ltS~aAd obli.CatloAs >of',the ..;E. CorporatloA:e~!! it& etwkhc2daro are and'dintinct; tha 6t~ am Aot lieblo ior tha tcrts of'tho car-1 pcretioA; the reaifiance acd citizeAshIp of,t!!o coxp6rctim ere seperate and dlstiAot rrm th3t of the otookholdero. Thle corpornto rictlon ie raepeoted et lm aAd.iA aqulty, aAdnil1 ba dImeCarded only v&ere there arc cGApcllln& rcui30.~ -- as Vhe,-e the cloak Ie beihC I,tilixaC ae a eubter?uCo to dsmt public lntersst and aonvenlcAca,,tc juntify WFOAg, 'or to perpetrete ireud, . The cor?orote 'en- tity will A6t ba dlsrogardod where to do so rocld proiaOt3 aA itljustioa OIF OOAttOVOi:S public pOli.Cy. u C.J.E. 376, et bag. To dlariqcra the eaparatenoso of Aaerio3n OAd %xee Utilltiee v:ould ba to oontxmno tho ptrlioy amounosd by the Fubllo Utility U6ldiAC COupaAyr\Ct Of 1935, - *.: .-' ., ,' _. 6~ 1.: 1 WG . Honorable Georse & Sheppard, Fag437 .
. 7 7 ;. . . . &uuwel. foi #said ct&aniss. OOntdAd further that dn any mrent,. the tmmmr ~m3 r0a to be in socord- aA& aith the POiiOY a~mO8d by tha WOtMAt Or the Fabllo Utility Holding coqany Aot Ot 1935 and wae to all. intents dmd arpooes lnooluntnry and pursuant to the ordek ' of tha &OUT P tise and 3tOha~e Cordsslon hSre&ftbOve ratem to.'? Thle is not suoh a trapsrer by operaticn ot *law as has bQeA held to bo eiwapt tract the tax. It is diiiieult to so8 tha mpuity in counsel~s oeitlon, Thee0 ooapeaire shave, by t@eii! owg sots,, brti& e thiwelves ln- to a sltuatlon..whloh Congra.srhas declared to be oontrory to publio pollc$ and the boat. intorests or tha. peop$e oi .i. tha UnWil St?rtee. When orderad to absolve thoaeolves or such aotlh, ther oannot bo hserd to cwglain that. the sytartyka -to exaot a tax f"" them beoauae of the. l .: ..,
. . __" ' Yo u r 8 .ver y truly
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