Anderson v. Johnson

These are three bills in equity brought by complainants, stockholders of Narragansett Cotton Mills, Incorporated, a Rhode Island corporation, hereinafter called the company, in behalf of complainants and other stockholders, to have certain shares of the capital stock of the company now held by said respondents, returned to the company and cancelled on the ground, that said stock was bonus or promotion stock, which was issued illegally without adequate consideration and . without any valid vote or action of the corporation authorizing it. The company is made a respondent in each case, it…