Riverside & Dan River Cotton Mills, Inc. v. Thomas Branch & Co.

This is an action of assumpsit instituted in the Circuit Court of Pittsylvania county by Thomas Branch & Company (holders of record of 671 shares of preferred stock of the Riverside and Dan River Cotton Mills, Incorporated), against said cotton mills, to recover damages for its failure to issue to them their alleged pro rata share of common stock as a stock dividend, as will- appear later and for issuing all of its unissued common stock as a stock dividend to its common stockholders.

The facts of the case are practically undisputed. They form the basis of the plaintiff’s claim and are…