Murray-Baumgartner Surgical Instrument Co. v. Requardt

This is a very unusual case. A bill is filed by a stockholder, owning one-half the stock, praying a receivership for a solvent, prosperous corporation. The receivership was denied, but a decree was passed restraining the officers of the corporation from reducing the salary the stockholder had been paid for nearly ten years, from which the corporation and defendant directors appeal.

The Murray-Baumgartner Surgical Instrument Company was incorporated July 30, 1920, with three stockholders and directors, Albert Baumgartner, William M. Murray, and Dr. Wallenstein, each owning twenty-five shares of…