Brundage v. . Brundage

[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.] The appellants raise the question whether the New York Central Railroad Company, or the directors of it, had authority or power to make a stock dividend, which should increase the dividends for the year beyond ten per centum of the capital stock, or which should operate to reduce the capital stock. (1 R.S., p. 601, § 2.) In Currie v. White (45 N.Y., 822), we declined to pass upon a similar question, because we could, without that, decide all that was necessarily…