Graff v. Williamsport Water Co.

Per Curiam,

June 30, 1933:

In 1927 the Williamsport Water Company by appropriate corporate action effected a revision of its capital structure. It may be said generally that the change was from an organization consisting solely of common stock to one authorized to issue both common and preferred stock and also corporate bonds. Each step in the alteration was taken pursuant to legal requirements and with full notice to all stockholders. Although these corporate changes were formulated by the Board of Directors of defendant company during the summer of 1927, and were approved by the stockholders…