Legal Opinion
Moran v. U.S. Cast Iron Pipe, C., Co.
Supreme Court of New Jersey
Decided February 27, 1924PublishedCited by 14 opinions
1Opinion of the Court
There has been no material change in the subject-matter of this litigation since the decision in 1908 in Bassett v. UnitedStates Cast Iron Pipe and Foundry Co., 74 N.J. Eq. 668; affirmed,75 N.J. Eq. 539.
It will be recalled that at that time the company had a reserve fund, accumulated by withholding dividends from its preferred and common stockholders, which, though listed on the books as "Reserve for Additional Working Capital," was held to be surplus profits and not working capital in the statutory sense of section 47 of the Corporation act, and that so much thereof as was derived from…
2Cases cited2 opinions
- Bassett v. United States Cast Iron Pipe & Foundry Co.Supreme Court of New Jersey · 1909
- Bassett v. U.S. Cast Iron Pipe and FoundrySupreme Court of New Jersey · 1908
3Cited by14 opinions
- Lonsdale, C., Corp. v. International, C., Co.New Jersey Court of Chancery · 1927
- Guttmann v. Illinois Central R. CoCourt of Appeals for the Second Circuit · 1951
- Lich v. United States Rubber Co.District Court, D. New Jersey · 1941
- Cintas v. American Car Foundry Co.New Jersey Court of Chancery · 1942
- Guaranty Trust Co. of New York v. Grand Rapids, G. H. & M. Ry. Co.District Court, W.D. Michigan · 1931
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