Mason v. Pewabic Mining Co.
Supreme Court of the United States
APPEALS FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE WESTERN DISTRICT OF MICHIGAN. •In equity. The court, iu its opinion, stated the case as follows: These are an appeal and a cross-appeal from a decree of the. Circuit Court of the United States for the Western District of Michigan.
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APPEALS FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE WESTERN DISTRICT OF MICHIGAN. •In equity. The court, iu its opinion, stated the case as follows: These are an appeal and a cross-appeal from a decree of the. Circuit Court of the United States for the Western District of Michigan. On March 31st, 1884, there was filed in the Circuit Court for that district the bill of complaint of Thomas G-. Mason, William Hart Smith and Sullivan Ballou, who describe themselves as citizens of the State of New York, against The Pewabic Mining Company, a corporation existing under the laws of the State…
1Opinion of the Court
Mr. Justice Miller-,
after stating the ease as above reported,' delivered the opinion of the-court.
With regard to the main question, the power of the directors and of the majority of the corporation to sell all of the assets and property of the Pewabic Mining Company to the new ■ corporation under the existing circumstances of this-case,.wé concur with the Circuit Court. It is earnestly argued that the majority of the stockholders — such a relatively large majority in interest — have a right to control in this matter, especially as the corporation exists for no other purpose but that of…
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