Hackett v. Northern Pacific Railway Co.

This is an application by holders of preferred stock of the defendant corporation, for an injunction pendente lite restraining the consummation of a plan whereby it is proposed to-retire the preferred stock of the company at par, and to issue-in place thereof common stock to an equal amount, giving to-the present holders of the common stock the privilege of acquiring the additional common stock to be issued in substitution for the preferred stock. The defendant corporation, as at present known and constituted, came into being in 1896, as the result of' the reorganization of another…