Commonwealth v. Boston & Albany Railroad
Massachusetts Supreme Judicial Court
The first case was an information in equity, filed on November 13, 1885, by the Attorney General, in pursuance of the direction of the General Court,* and alleging the following facts: The defendant is a corporation under the laws of this Commonwealth, owning and operating a railroad therein, with the rights and privileges, and subject to the limitations and restrictions, of railroad corporations, as provided by the general laws and statutes of the Commonwealth, and…
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The first case was an information in equity, filed on November 13, 1885, by the Attorney General, in pursuance of the direction of the General Court,* and alleging the following facts: The defendant is a corporation under the laws of this Commonwealth, owning and operating a railroad therein, with the rights and privileges, and subject to the limitations and restrictions, of railroad corporations, as provided by the general laws and statutes of the Commonwealth, and especially by the St. of 1867, e. 270, § 17.ϯ On April 1, 1882, the corporation had an authorized and paid up capital of twenty…
1Opinion of the CourtC. Allen, J.
The Pub. Sts. c. 112, § 61, forbid a railroad corporation, without authority of the General Court, to increase its capital stock beyond the fixed maximum, to declare a stock dividend, to divide the proceeds of the sale of stock among its stockholders, or to issue certificates of stock when the par value of the shares so issued is not first paid in cash to its treasurer. It is contended on the part of the Commonwealth that the actual and the intended distribution of shares by the defendant are in violation of this section, such distributions being stock dividends. Literally, they are so; but…
2Cases cited6 opinions
- The City Bank of Columbus v. . Bruce and FoxNew York Court of Appeals · 1858
- Dupee v. Boston Water Power Co.Massachusetts Supreme Judicial Court · 1873
- State ex rel. Page v. SmithSupreme Court of Vermont · 1876
- American Railway-Frog Co. v. HavenMassachusetts Supreme Judicial Court · 1869
- Robison v. BeallSupreme Court of Georgia · 1858
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Sargent v. American Bank & Trust Co.Oregon Supreme Court · 1916
- Pabst v. GoodrichWisconsin Supreme Court · 1907
- Mitchell v. Mitchell, Woodbury Co.Massachusetts Supreme Judicial Court · 1928
- Scriggins v. Thomas Dalby Co.Massachusetts Supreme Judicial Court · 1935
- Commissioner of Corporations & Taxation v. MorganMassachusetts Supreme Judicial Court · 1940
1 more not listed; retrieve them via the Exa API.