Trimble v. American Sugar Refining Co.
New Jersey Court of Chancery
On demurrer to bill. The bill is filed by complainant, who alleges himself to be the owner of one hundred out of seventy-four thousand shares of the capital stock of defendant company, and seeks relief in this court against what he alleges to he the improper conduct of the company in the management of its business, by which his interests as a shareholder have been, or will be, prejudiced.
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On demurrer to bill. The bill is filed by complainant, who alleges himself to be the owner of one hundred out of seventy-four thousand shares of the capital stock of defendant company, and seeks relief in this court against what he alleges to he the improper conduct of the company in the management of its business, by which his interests as a shareholder have been, or will be, prejudiced. The allegations of the bill, so far as they are pertinent and relevant to the relief prayed for, may be briefly stated to be as follows: That the company was organized January 15th, 1891, under the law of…
1Opinion of the Court
Pitney, Y. C.
The cause of action attempted to be shown in the complainant’s bill may be divided as follows: First, that the acts of the defendant in going into the coffee trade are ultra vires, in that they are not warranted by the objects of the corporation as set forth in the articles of association or certificate of incorporation; second, that the defendant has a large surplus in funds not necessary for use in its legitimate business, which it ought to divide and refuses to divide; third, that it has concealed its time situation from its stockholders, and fourth, that it is carry*345ing on the…
2Cases cited2 opinions
- Lucas v. OliverSupreme Court of Alabama · 1859
- Cameron v. AbbottSupreme Court of Alabama · 1857
3Cited by20 opinions
- Home Fire Insurance v. BarberNebraska Supreme Court · 1903
- Gallup v. CaldwellCourt of Appeals for the Third Circuit · 1941
- Matthews v. Headley Chocolate Co.Court of Appeals of Maryland · 1917
- Solimine v. HollanderNew Jersey Court of Chancery · 1940
- Figge v. BergenthalWisconsin Supreme Court · 1907
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