Loveland & Co. v. Doernbecher Manufacturing Co.

In this suit the plaintiff, a corporate creditor, seeks to enjoin the Doernbecher Manufacturing Company from paying out of its capital, or from any of its funds other than surplus profits, the balance of the price by it agreed to be paid under a contract for the purchase of its own stock. The ease is here upon an appeal by plaintiff from a decree dismissing the suit.

The Doernbecher Manufacturing Company, which will hereinafter be referred to as the defendant company, is a corporation organized under the laws of this state, its principal business being that of a manufacturer of furniture. As…