Hart v. St. Charles Street Railroad

Dissenting Opinion.

Egan, J.

In my opinion, the original stockholders who desired to subscribe for additional stock under the resolution of the board, stood, so far as the mode or manner of subscription is concerned, on precisely the same footing as any other person proposing or desiring to subscribé, the only difference in their favor being that original stockholders had an absolute right to subscribe to shares of the new stock in proportion to that already held by them within a certain time, and that other persons had not that absolute right, but, however desirous to subscribe, might have…