Warren v. Fitzgerald

This is a stockholders’ suit to enjoin The Baltimore Transit Company from abandoning almost 50 per cent of its track mileage and substituting for trolley cars motor buses, to be owned by a wholly owned subsidiary, The Baltimore Coach Company, “without having first obtained the authority or approval” of its stockholders. Plaintiffs own 1275 shares of common stock (out of 169,142.61 outstanding) and 100 shares (out of 233,-427.2325) of preferred stock. The bill prays that the company be enjoined from (a) “pursuing the aforesaid illegal and fraudulent plans of ‘conversion,’ whereby the property…