Jones v. Motor Sales Co.

Opinion by

Mr. Justice Linn,

This appeal is from a decree requiring appellant corporation to declare and pay a dividend of $14.50 a share to shareholders of record July 10, 1934. One thousand three hundred and fifty (1,350) shares were outstanding. The bill was filed by a stockholder, registered owner of 357 shares, all or nearly all pledged ás collateral for loans. Before filing his bill, plaintiff requested that a dividend of $30 a share or as much as was reasonable be declared. The directors considered his request and concluded that the best interests of the corporation required them to…