Morris v. Stevens
Supreme Court of Pennsylvania
Appeal, No. 178, Jan. T., 1896, by-defendants, from decree of C. P. Blair Co., Equity Docket “A,” No. 222, on bill in equity. Bill in equity for an injunction. Bell, P. J., filed tbe fol lowing opinion in the nature of report of a master. FINDING OF FACTS. On July 4,1892, an annual election for officers of the Tyrone Gas & Water Company was held. Two tickets were in the field.
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Appeal, No. 178, Jan. T., 1896, by-defendants, from decree of C. P. Blair Co., Equity Docket “A,” No. 222, on bill in equity. Bill in equity for an injunction. Bell, P. J., filed tbe fol lowing opinion in the nature of report of a master. FINDING OF FACTS. On July 4,1892, an annual election for officers of the Tyrone Gas & Water Company was held. Two tickets were in the field. The so-called Morris ticket was, Caleb Guyer for president ; C. A. Morris for secretary and treasurer; A. G. Morris, C. A. Morris, Thomas K. Morris, Caleb Guyer, Dr. G. W. Burket and A. A. Stevens, Esq., for directors.…
1Opinion of the Court
Opinion bv
Mr. Chiee Justice Stereett,
We are not convinced that any harm can come to this appellant from permitting the interlocutory decree appealed from to stand and the cause to proceed to final hearing and decree in ‘the court below; nor, are we satisfied that there is anything in •the record as presented that would justify us in sustaining either of the specifications of erroio'
In general, the present holders of stock have a primary right *579to subscribe in proportion to their holdings for any new issue. The stockholders themselves certainly may determine otherwise and order a sale to the…
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