Gottdenker v. Philadelphia & Reading Corp.

Respondent is a corporation with — the figures being approximate — 3,000,000 outstanding shares of common stock held by 1,300 persons, and 240,000 outstanding shares óf preferred stock held by 4,000 persons. Petitioner, who holds 100 shares of the common stock, brought this proceeding pursuant to section 624 of the Business Corporation Law, following an unsuccessful demand upon respondent for an inspection of the record of shareholders. His petition was granted, and respondent appeals.

As a shareholder of record for at least six months, thus qualifying under subdivision (b) of section 624…