Totten & Co. v. Tison
Supreme Court of Georgia
Corporations. Preferred stock. Debtor and creditor. Before Judge Underwood. Floyd Superior Court. July Term, 1874. This case is sufficiently reported in the above head-note.
1Opinion of the Court
Trippe, Judge.
We recognize the ordinary rule in reference to preferred stock as it is usually issued. The preference that the holders of such stock have, is the right to receive dividends from the earnings of the company before the common stock can share in such earnings. Other priorities may attach to this stock as between the stockholders themselves, but neither class of stockholders can, as such, claim a lien as against a creditor. But we rest the decision we render, affirming the judgment of the superior court, upon the special facts of this case. Those facts are pretty fully set forth in…
2Cited by8 opinions
- Heller, Hirsch & Co. v. National Marine BankCourt of Appeals of Maryland · 1899
- Savannah Real Estate, Loan & Building Co. v. SilverbergSupreme Court of Georgia · 1899
- Atwood v. DumasMassachusetts Supreme Judicial Court · 1889
- Ellsworth v. LyonsCourt of Appeals for the Sixth Circuit · 1910
- Jefferson Banking Co. v. Trustees of Martin InstituteSupreme Court of Georgia · 1917
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