Hand v. Dexter
Supreme Court of Georgia
Corporations. Equity Pleading. Before Judge Knight. Chambers. Lumpkin County. December, 1870. *Dexter, and about a dozen others, not residing in this State, but in Boston, Massachusetts, Pennsylvania, and New York city, with Richard Van Dyke, of said county, as trustee, filed their bill containing the following averments.
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Corporations. Equity Pleading. Before Judge Knight. Chambers. Lumpkin County. December, 1870. *Dexter, and about a dozen others, not residing in this State, but in Boston, Massachusetts, Pennsylvania, and New York city, with Richard Van Dyke, of said county, as trustee, filed their bill containing the following averments. They, with said Van Dyke as trustee, own in their own right thirty-two thousand six hundred and fourteen shares of the capital stock of the Yahoola River and Cane Creek Hydraulic Hose M-ining Company, a corporation of this State, having its office in Lumpkin county, (setting…
1Opinion of the CourtMcCAY, J.
1. The complainants in this bill are the owners of '- thousand shares of stock in an incorporated mining company of one hundred thousand shares. Its object is to take the property out of the hands of the company, the stockholders, place *462it in the hands of a Receiver, and that a general account be taken. As a Court of Equity will not appoint a Receiver to carry on the business of mining, it follows that there can be no sufficient cause for such a bill, unless-the majority of the stockholders are pursuing a course so illegal and ruinous as to require the affairs of the company to be stopped.
The…
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