Francke v. Axton-Fisher Tobacco Co.

Opinion of the Court by

Judge Ratliff

Affirming.

The appellants, who are the owners of certain stock •of appellee, a corporation, hereinafter called the company, brought this action under the provisions of the Declaratory Judgment Act,. Civil Code of Practice, Section 639a — 1 et seq., seeking a declaration of the rights of the parties with respect to the right of the company to carry into effect a proposed plan of recapitalization of the company by amending the Articles of Incorporation so as to authorize the issuance of a specified number of shares of new prior preferred stock with priority…