Mason v. Mills
Massachusetts Supreme Judicial Court
Contract to recover premiums realized from the sale of shares of new stock in the defendant corporation, under a vote of the stockholders increasing its capital stock. The case was submitted to the Superior Court, and, after judgment for the plaintiff, to this court on appeal, upon an agreed statement of, facts, the material parts of which appear in the opinion.
1Opinion of the CourtEndicott, J.
The St. of 1870, e. 179, provides that, in case of the increase of the capital stock in any corporation, the stockholders may take the new stock at par ; and that the shares not taken may be sold by auction for the benefit of the corporation, “but all premiums realized from such sales shall be paid” to those stockholders, in their proper proportions, who did not avail themselves of their right to take the new shares. The *77question in this case is, whether the increase of capital stock by the defendant, in 1879, is governed by these provisions.
The St. of 1871, o. 392, requires that a railroad…
2Cited by3 opinions
- Chicago, Indianapolis & Louisville Railway Co. v. MartinIndiana Court of Appeals · 1902
- Page v. Whittenton Manufacturing Co.Massachusetts Supreme Judicial Court · 1912
- Smith v. Franklin Park Land & Improvement Co.Massachusetts Supreme Judicial Court · 1897