Affeldt v. Dudley Paper Co.

Plaintiff, the owner of 100 shares of the preferred stock of defendant Dudley Paper Company, filed a bill asking that defendants be ordered to pay him $1,000, the par value of his shares plus cumulative dividends at the rate of 7 per cent, per annum from September 1, 1934. Prior to the year 1931, plaintiff had.become the owner of 100 shares of preferred stock. These shares were authorized by an amendment to the articles of association which provided that “the preferred stock shall be subject to redemption at par on the 15th day of April, 1935,” et cetera, and at a premium at any time after…