McGahan v. United Engineering Corp., Inc.

The defendant is a manufacturing corporation organized under the General Corporation act of this state, in 1926. Its original certificate of incorporation provided for a capital stock of $125,000 divided into 25,000 shares of the par value of $5.00 each. By an amendment in 1928 its capital stock was increased to $500,000. The amendment, — (par. Fourth), — reads as follows, —

"Fourth. The total authorized capital stock of this corporation is Five Hundred Thousand ($500,000) Dollars divided into Sixty-two Thousand Five Hundred (62,500) shares and the shares of this corporation are divided into…