Janes v. Washburn Co.

The bill in equity in this case was filed on January 15, 1945, and later was amended. The following facts are alleged. The plaintiff owns one hundred ninety-four shares of preferred stock of the defendant of the par value of $100, out of nine thousand four hundred seventy- six shares issued, and six hundred eighty shares of common stock of no par value out of thirty-eight thousand two hundred ninety-one shares issued. The bill alleges the rights of stockholders to be as follows. The preferred stockholders are entitled to cumulative dividends at seven per cent a year, before any common…