Powell v. Craddock-Terry Co.

W. D. Powell filed in the court below a petition for a declaratory judgment against Craddock-Terry Company, a Virginia corporation, determining his rights as a stockholder in that company under the following facts and circumstances :

The company has outstanding a total of 12,500 shares of first preferred stock, 12,500 shares of second preferred stock, 9,956 shares of class “C” preferred stock, and 32,704 *148shares of common stock, issued pursuant to its original charter and various amendments thereof. At the time the petition was filed the cumulative dividends on the three classes of preferred…