Roberts v. . Roberts-Wicks Co.
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered March 1, 1905, upon the submission of a controversy under section 1219 of the Code of Civil Procedure.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered March 1, 1905, upon the submission of a controversy under section 1219 of the Code of Civil Procedure. It appears that the defendant was duly incorporated under the Business Corporations Law, for the manufacture and sale of clothing, in 1895, with a capital stock of $200,000, divided into 2,000 shares; 500 shares($50,000) being preferred stock, and 1,500 shares ($150,000) being common stock; each share being of the par value of $100. The certificate of incorporation provided that “…
1Opinion of the CourtGray, J.
From the foregoing facts, which the parties have stipulated as resuming the whole situation, it is apparent that our consideration of this appeal is, in no degree, embarrassed by any question of the power of the directors to increase the capitalization of this company in 1898, or to reduce it in 1904. In each case, we may assume, it was duly and legally effected and the only question is whether when, subsequently to the reduction of the capital stock in June, 1904, a distribution of the surplus profits was declared, the plaintiff, as a preferred stockholder, was entitled to be paid for…
2Cases cited4 opinions
- Kent v. . Quicksilver Mining Co.New York Court of Appeals · 1879
- Boardman v. Lake Shore & Michigan Southern Railway Co.New York Court of Appeals · 1881
- Jermain v. Lake Shore & Michigan Southern Railway Co.New York Court of Appeals · 1883
- Seeley v. New York National Exchange BankNew York Court of Common Pleas · 1878
3Cited by31 opinions
- Keller v. Wilson Co. Inc.Supreme Court of Delaware · 1936
- Morris v. American Public Utilities CompanyCourt of Chancery of Delaware · 1923
- Dominguez Land Corp. v. DaughertyCalifornia Supreme Court · 1925
- Page v. Whittenton Manufacturing Co.Massachusetts Supreme Judicial Court · 1912
- Davison v. Parke, Austin & Lipscomb, Inc.New York Court of Appeals · 1941
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