Thompson v. Fairleigh

Opinion of the Court by

Stanley, Commissioner

—Affirming.

This case involves the interpretation of Articles of Incorporation of Bass & Company, located in Hopkins-ville, as they relate to the call for retirement of preferred stock, and the right to certain dividends.

The corporation was organized as of July 1, 1925, with a capital of $150,000, divided equally between common and 7% cumulative preferred stock. In 1937 the capital was increased by $50,000 of “Common Stock B,” only a part of which, however, was issued. It confirmed all the rights of the preferred stock and the issue is of no…