American Ice & Industries Co. v. Crane
Supreme Court of Alabama
Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The bill in this case was filed by the appellee, A. F. Crane, against the. American Ice and Industries Company and certain named officers and agents of said Company for the purpose of enjoining said corporation and its officers from executing bonds of the corporation in excess of the sum of $50,000. The facts averred in the bill and answer are sufficiently set forth in the opinion.
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Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The bill in this case was filed by the appellee, A. F. Crane, against the. American Ice and Industries Company and certain named officers and agents of said Company for the purpose of enjoining said corporation and its officers from executing bonds of the corporation in excess of the sum of $50,000. The facts averred in the bill and answer are sufficiently set forth in the opinion. The defendants demurred to the bill on the following grounds: (1.) That so far as said bill of complaint shows, it appears that…
1Opinion of the CourtHaralson, J.
The defendant company, as is alleged in the bill, was incorporated with a capital stock of $100,000.00, divided into 1000 shares of $100.00 each, of which the complainant was the owner of fifty shares.
*622The hill charges in substance, that three of the directors of said corporation, — Drake, Eben and Wright, — proposed to complainant, on the 9th day of April, 1904, that he should consent to an issue of a $100,000.00 of the bonds of said corporation, — to be secured by a mortgage on its property, — in excess of the amount of its outstanding obligations of $50,000.00, such excess to be delivered…
2Cases cited3 opinions
- Nelson v. HubbardSupreme Court of Alabama · 1892
- Fitzpatrick v. Dispatch Publishing Co.Supreme Court of Alabama · 1887
- Mabel Mining Co. v. Pearson Coal & Iron Co.Supreme Court of Alabama · 1898
3Cited by5 opinions
- Mudd v. LanierSupreme Court of Alabama · 1945
- Randle v. Winona Coal Co.Supreme Court of Alabama · 1921
- Rolapp v. Ogden & Northwestern RailroadUtah Supreme Court · 1910
- Nelson v. DarleySupreme Court of Alabama · 1939
- Roman v. LentzSupreme Court of Alabama · 1915