In re Fulton

This is an application for an order modifying appraisement of the value of petitioner’s 481 shares of preferred stock in the Van Beuren and New York Billposting Company by reducing the appraisal from $238.15 per share to $100 per share.

This company was organized in 1905 as a New York corporation to do an advertising business. The authorized capital stock consisted of 4,942 shares of the par value of $100, the stock being *152divided one-half preferred and one-half common stock. The sole preference in the certificate of incorporation as to the preferred stock is as follows: “ The preferred stock…