People ex rel. Roberts & Schaefer Co. v. Emmerson

The relator, the Roberts & Schaefer Company, is an Illinois corporation originally organized with a capital stock of $100,000, divided into 1000 shares of the par value of $100 each. In June, 1921, the stockholders, by ,proper amendment to the charter of the corporation, changed the old stock to preferred stock and then increased the capital stock of the corporation by issuing 10,000 shares of stock with no par value. The resolution effecting this change was as follows:

“Resolved further, that the capital stock of this company is hereby increased from $100,000, consisting of 1000 shares of…