Harvey v. National Drug Co.

Alessandroni, J.,

Suit was brought by plaintiff as the owner of 30 shares of the first preferred stock of defendant corporation, of the par value of $100 per share, the stock paying 7 percent annual cumulative dividends. The statement of claim sets forth that defendant has failed to pay the 7 percent annual cumulative dividend for the years 1931 to 1934, inclusive, although defendant has paid dividends to the holders of second preferred and third preferred stock for those years out of the net earnings of the company; that on-'or about December 28, 1934, the articles of incorporation were…