New York, Lake Erie, & Western Railroad v. Nickals
Supreme Court of the United States
APPEAL FROM THE CIRCUIT OOUBT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. ,’ This was a bill' in equity brought by a bolder of preferred ' stock of the New York, Lake Erie, and.
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APPEAL FROM THE CIRCUIT OOUBT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK. ,’ This was a bill' in equity brought by a bolder of preferred ' stock of the New York, Lake Erie, and. Western Railroad ■ Company, on. behalf'of .himself and other stockholders)'to compel the company to declare and pay a dividend to the • preferred stockholders out of the net ..profits from the operations of ‘the company during the year ending September 30,' 1880. Decree below in favor’ of complainants, from which - ■respondent appealed. The case is stated in the opinion of, the court. cit’ed: Williston…
1Opinion of the CourtJustice HaelaN
delivered the opinion of the court.-
By the decree below it was adjudged, in accordance with the prayer of the. bill, that the New York; Lake Erie and Western Railroad Company ivas required by its articles of association to declare a dividend of six per cent, upon its preJ ferred stock, for the year ending September 30th, 1880, payable out of the net profits accruing that year from the use of its property, after meeting operating expenses, interest on funded debt, rentals of leased lines, and other fixed charges. A judgment was rendered against it for $20,280 — the amount which the plaintiffs…
2Cases cited8 opinions
- Boardman v. Lake Shore & Michigan Southern Railway Co.New York Court of Appeals · 1881
- Warren v. KingSupreme Court of the United States · 1883
- Clearwater v. MeredithSupreme Court of the United States · 1864
- Lockhart v. Van AlstyneMichigan Supreme Court · 1875
- Union Pacific Railroad v. United StatesSupreme Court of the United States · 1879
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- Gibbons v. MahonSupreme Court of the United States · 1890
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- State v. Illinois Central RailroadIllinois Supreme Court · 1910
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