Legal Opinion
Cont. Securities Co. v. . N.Y.C. H.R.R.R. Co.
New York Court of Appeals
Decided January 25, 1916PublishedCited by 8 opinions
1Opinion of the Court
This is a stockholder's suit brought in the right of a corporation to restrain the issue of bonds. In 1898 the New York Central and Hudson River Railroad Company purchased about ninety per cent. of the stock of the Lake Shore and Michigan Southern Railway Company. It paid for the stock by the delivery of its own bonds. The sole security accompanying the bonds was a pledge of the stock for which they paid. The date of maturity was February, 1998, and the rate of interest was three and one-half per cent. per annum. The issue was known as "The New York Central and Hudson River Railroad Company…
2Cases cited5 opinions
- Hudson County Water Co. v. McCarterSupreme Court of the United States · 1908
- Epping v. City of ColumbusSupreme Court of Georgia · 1903
- Williamsburgh Savings Bank v. Town of SolonNew York Court of Appeals · 1893
- Thomas Gordon Malting Co. v. Bartels Brewing Co.New York Court of Appeals · 1912
- Bandman v. . FinnNew York Court of Appeals · 1906
3Cited by8 opinions
- In Re American Fuel & Power Co.Court of Appeals for the Sixth Circuit · 1945
- N.Y.C. H.R.R.R. Co. v. . General El. Co.New York Court of Appeals · 1916
- Empire Trust Co. v. EQUITABLE OFFICE BLDG. CORPORATIONCourt of Appeals for the Second Circuit · 1948
- Schieber v. City of MohallNorth Dakota Supreme Court · 1936
- Williams v. City of Rock HillSupreme Court of South Carolina · 1935
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