Mueller v. Kraeuter Co., Inc.

This is a suit to compel the redemption of preferred stock issued by the defendant Kraeuter Co. Complainants own 120 shares out of a total 1,392 shares of the stock outstanding. The stock is entitled to cumulative dividends at the rate of 7 per cent. when and as declared by the directors. The provision for redemption of the stock reads as follows:

"Each and any preferred shares may, by vote of the majority of the board of directors, be redeemed at any time after three years from the date of its issue at the price of $110 per share and shall be redeemed at that price at the expiration of 15…