Sterling v. H. F. Watson Co.
Supreme Court of Pennsylvania
Appeal, No. 378, Jan. T., 1912, by defendant, from decree of C. P. Erie Co., May T., 1912, No. 3, In Equity, awarding an injunction on bill in equity in case of W. B. Sterling, Ralph Worthington, Davis Rees and J. H. Richardson v. H. F. Watson Company. Bill in equity for an injunction. Before Walling, P. J. From the record it appeared that the H. F. Watson Company was a Pennsylvania manufacturing corporation.
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Appeal, No. 378, Jan. T., 1912, by defendant, from decree of C. P. Erie Co., May T., 1912, No. 3, In Equity, awarding an injunction on bill in equity in case of W. B. Sterling, Ralph Worthington, Davis Rees and J. H. Richardson v. H. F. Watson Company. Bill in equity for an injunction. Before Walling, P. J. From the record it appeared that the H. F. Watson Company was a Pennsylvania manufacturing corporation. On April 6th, 1897, it increased its capital stock from $750,000.00 to $1,000,000.00, such increase to consist of cumulative preferred stock. The certificate of preferred stock contained…
1Opinion of the Court
Opinion by
Mr. Justice Elkin,
This case was so carefully considered and so properly decided by the learned court below that but little if anything of value can be added by an extended discussion of the points involved in the controversy here. The appellant corporation desires to retire its preferred shares of stock as it has the right to do upon the conditions contained in the certificates of the preferred shareholders. Appellant is a Pennsylvania corporation and has the power to issue both preferred and common stock. The certificates representing preferred stock contain the following…
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