Butler Bros. v. Martin

The appellant corporation, Butler Brothers, filed its complaint in equity in the circuit court of Sangamon county, seeking to restrain payment into the State treasury of license fees paid by it, under protest, to the Secretary of State, in connection with the issuance of 285,000 cumulative preferred shares of stock of the value of $30 each, which shares were issued in November of 1936, pursuant to charter amendments filed on November 2, 1936. The complaint was dismissed for want of equity in the circuit court and, State revenues being involved, the appeal has been perfected directly to this…