Randle v. Winona Coal Co.
Supreme Court of Alabama
Appeal from Circuit Court, Walker County ; T. L. Sowell, Judge. Bill by E. P. Randle against the Winona Coal Company and the officers and directors thereof to enjoin them from filing an amendment to its charter and for doing any corporate act under said amendment. Prom a decree sustaining demurrer to the bill, complainant appeals.
Read the full summary
Appeal from Circuit Court, Walker County ; T. L. Sowell, Judge. Bill by E. P. Randle against the Winona Coal Company and the officers and directors thereof to enjoin them from filing an amendment to its charter and for doing any corporate act under said amendment. Prom a decree sustaining demurrer to the bill, complainant appeals. The action taken to amend the charter was improper, since the non-par act, under which the action was taken, was violative of sections 234 and 237, Const. 1901. 96 Ala. 238, 11 ¡South. 428, 17 L. R. A. 375 ; 87 Ala. 725, 6 South. 702, 6 L. R. A. 218; 97 Ala. Ill, 12…
1Opinion of the CourtThomas, J.
The bill sought to enjoin respondents from filing a certified copy of amendment to corporate charter of Winona Coal Company, and from doing corporate acts thereunder.
The alleged amendment purports to have been adopted after due notice by the holders of two-thirds in value of outstanding stock in said corporation, who will (1) authorize the issuance of stock, common or preferred, without nominal or par value; (2) “change the par value of the shares of stock from one hundred dollars per share to common stock without nominal or par value”; and (3) increase the capital stock of the corporation…
2Cases cited79 opinions
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
- Scovill v. ThayerSupreme Court of the United States · 1882
- New York & New England Railroad v. BristolSupreme Court of the United States · 1894
- State ex rel. Meyer v. GreeneSupreme Court of Alabama · 1908
- Williams v. SchwarzSupreme Court of Alabama · 1916
74 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Hodge v. JoySupreme Court of Alabama · 1921
- Alabama Public Service Commission v. Mobile Gas Co.Supreme Court of Alabama · 1925
- Jefferson County v. BusbySupreme Court of Alabama · 1933
- General Securities Corporation v. WeltonSupreme Court of Alabama · 1931
- State Ex Rel. Fowler v. StoneSupreme Court of Alabama · 1938
22 more not listed; retrieve them via the Exa API.