Weinberg v. Baltimore Brick Company

Per Curiam: Plaintiff and interveners below, appellants, are common stockholders of Baltimore Brick Company, a Delaware corporation. In the court below plaintiff sought to restrain the payment of a dividend declared upon the preferred stock on the ground that the corporate capital was impaired, and that the provisions of the corporate charter forbade the payment of dividends except from a surplus of assets. Plaintiff’s motion for a preliminary injunction was heard upon the pleadings and affidavits. The injunction was refused. The Vice Chancellor held that the dividend had been lawfully…