Stamford Trust Co. v. Yale & Towne Manufacturing Co.
Supreme Court of Connecticut
Action by a stockholder in the defendant company against it and its directors, for an injunction against its declaring a stock dividend; brought to the Superior Court in Fairfield County. A temporary injunction was granted (Burpee, J.) and the cause then reserved on a demurrer to the answer, for the advice of this court.
1Opinion of the CourtBaldwin, C. J.
The following state of facts is admitted by the pleadings:—
The defendant company was originally incorporated under the general incorporation laws of Connecticut, with a capital of $650,000; but received a special charter in 1882. This gave it power to increase its capital stock “from time to time, to an amount not exceeding on the whole two million dollars, and to use and dispose of the same in such manner as the stockholders may direct.” 9 Special Laws, p. 339, § 3. By an amendment to its charter, granted April 18th, 1907 (15 Special Laws, p. 96, §1), it was “authorized to increase its…
2Cases cited2 opinions
- Smith v. DanaSupreme Court of Connecticut · 1905
- New Haven Trust Co., Receiver v. GaffneySupreme Court of Connecticut · 1901
3Cited by14 opinions
- Levine v. Randolph Corp.Supreme Court of Connecticut · 1963
- Union & New Haven Trust Co. v. SherwoodSupreme Court of Connecticut · 1929
- Union & New Haven Trust Co. v. TaintorSupreme Court of Connecticut · 1912
- Rosoff v. Gilbert Transp. Co.District Court, D. Connecticut · 1915
- General Bonding & Casualty Ins. Co. v. MoselyCourt of Appeals of Texas · 1915
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