Whelpley v. Erie Ry. Co.
U.S. Circuit Court for the District of Southern New York
The bill in this case was filed against the Erie Railway Company, by [Henry B. Whelpley,] a stockholder, charging that he was the owner of one thousand shares of its stock, and that they were a part of two hundred thousand shares overissued by said company, in violation of its charter, and contrary to law.
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The bill in this case was filed against the Erie Railway Company, by [Henry B. Whelpley,] a stockholder, charging that he was the owner of one thousand shares of its stock, and that they were a part of two hundred thousand shares overissued by said company, in violation of its charter, and contrary to law. It prayed that such issue of stock might be inquired into, and its legality, or illegality, be established; that, if it should be held that the said issue was illegal and void, the company might be decreed to pay to the plaintiff the amount paid by him for such spurious stock; that the…
1Opinion of the Court
NELSON, Circuit Justice.
The question involved in this alleged overissue of stock depends upon the construction of several provisions of the laws of the state of New York concerning the powers and duties of railroad corporations. Different and conflicting constructions of such provisions are insisted upon by the respective parties, and the questions involved therein, must necessarily come up for consideration and disposal, on the final hearing of the ease, on pleadings and proofs; but, in the view I have taken of the ease, it will not be necessary, or. perhaps proper, to express an opinion in…
2Cited by3 opinions
- Orth v. Transit Inv. CorporationCourt of Appeals for the Third Circuit · 1942
- T. S. Faulk & Co. v. Steiner, Lobman & FrankCourt of Appeals for the Fifth Circuit · 1908
- Simmons Hardware Co. v. WaibelSouth Dakota Supreme Court · 1891