Stone v. United States Envelope Co.
Supreme Judicial Court of Maine
On report. This is a bill in equity brought by Carrie M. Stone, one of the holders of common shares in the capital stock of the defendant corporation, seeking an injunction to restrain the defendants from issuing to the preferred and common stockholders in proportion to the number of shares of stock, either preferred or common, held by each, 2,500 shares of the common stock of the corporation of the par value of §100 each.
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On report. This is a bill in equity brought by Carrie M. Stone, one of the holders of common shares in the capital stock of the defendant corporation, seeking an injunction to restrain the defendants from issuing to the preferred and common stockholders in proportion to the number of shares of stock, either preferred or common, held by each, 2,500 shares of the common stock of the corporation of the par value of §100 each. The cause was heard upon bill, answers, replications and stipulations as to evidence. By agreement of parties the case was reported to the Law Court for determination upon…
1Opinion of the CourtDeasy, J.
Equity. The part of the by-laws of the United States Envelope Co. material to the present case is as follows: — •
"Article XVI. Capital.
The shares of this corporation shall be divided as follows, viz: 10,000 common shares, 40,000 preferred shares.
The preferred shares shall be entitled to cumulative dividends payable spmi-annually out of the net earnings of the corporation, at the rate of seven per cent, per annum, before any dividends are declared or paid on the common shares, and in case of non-payment in full of any such semi-annual dividends, the portions unpaid shall be paid out of…
2Cases cited5 opinions
- Scott v. Baltimore & Ohio RailroadCourt of Appeals of Maryland · 1901
- Niles v. Ludlow Valve Mfg. Co.Court of Appeals for the Second Circuit · 1913
- Bassett v. United States Cast Iron Pipe & Foundry Co.Supreme Court of New Jersey · 1909
- Englander v. OsborneSupreme Court of Pennsylvania · 1918
- Niles v. Ludlow Valve Mfg. Co.District Court, S.D. New York · 1912
3Cited by10 opinions
- St. Louis Southwestern Railway Co. v. LoebSupreme Court of Missouri · 1958
- Johnson v. Johnson & Briggs, Inc.Supreme Court of Virginia · 1924
- Tennant v. EpsteinIllinois Supreme Court · 1934
- Zhao v. CIEE, Inc.Court of Appeals for the First Circuit · 2021
- In Re Olympic National Agencies, Inc.Washington Supreme Court · 1968
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