People v. Liberty Light & Power Co.

This action is brought to recover a penalty imposed by section 73 of the Public Service Commission Law and alleged to have been incurred by the failure or neglect of the defendant to comply with the provisions of said law in relation to the issuing of stock. The particular provision claimed to have been violated *425is section 69, and the violation alleged consists of the issuance, under an amended certificate, of 1,000 shares of stock of no nominal or par value in exchange for all of the outstanding stock of par value, without securing from the commission authority for its issuance and exchange,…