Lyman v. Southern Railway Co.

Prentis, P.,

delivered the opinion of the court.

This is an appeal from a decree denying the relief prayed for in the bill and dismissing it. The question raised is whether or not the holders of the preferred five per cent stock of the Southern Railway Company are entitled to participate equally with the holders of the common stock in the surplus net profits in any one fiscal year in excess of five per cent dividends on both classes of stock.

The opinion of the learned trial judge, Hon. Beverley T. Crump, so carefully states the facts, the issues raised and the proper conclusions to be drawn…