Union Pacific Railroad Company v. Trustees, Inc.

*103HENRIOD, Justice.

Appeal from a judgment 1) declaring ultra vires a resolution of plaintiff’s directors, authorizing a $5,000 contribution of corporate funds to the Union Pacific Railroad Foundation, a non-profit corporation organized by plaintiff, dedicated to charitable, scientific, religious or educational purposes, and declaring 2) that the plaintiff was powerless statutorily or charter-wise to make contributions for the public welfare or for charitable, scientific, religious or educational purposes. Reversed. No costs awarded.

Plaintiff urges that 1) the contribution was a proper exercise…