In Re the Elections of Directors of George Ringler & Co.
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 9, 1911, which affirmed in part and reversed in part an order of Special Term setting aside the election of certain directors of the corporation George Ringler & Company, and denying an application to set aside the elections of certain other directors of said corporation.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 9, 1911, which affirmed in part and reversed in part an order of Special Term setting aside the election of certain directors of the corporation George Ringler & Company, and denying an application to set aside the elections of certain other directors of said corporation. On or about October 4th, 1910, Anna Hachemeister, individually and as administratrix with the will annexed of Henry Hachemeister, deceased, and J. Edward Jetter, as administrator of such decedent and as…
1Opinion of the CourtWerner, J.
Until-the year 1901, the statutes of this state relating to the affairs of ordinary business corporations provided that the directors or trustees of such companies should be stockholders to the extent at least of one share of stock. It has been judicially declared that the legislative policy underlying this provision of the statutes was to commit the management of corporations to those only who have a personal pecuniary interest in the conduct of their business. (Chemical Nat. Bank v. Colwell, 132 N. Y. 250; Sinclair v. Fuller, 158 id. 607.) This was the state of the law when the George…
2Cases cited13 opinions
- Norton v. Shelby CountySupreme Court of the United States · 1886
- Fowler v. BebeeMassachusetts Supreme Judicial Court · 1812
- People ex relat. Bush & Higby v. CollinsNew York Supreme Court · 1811
- Petersilea v. StoneMassachusetts Supreme Judicial Court · 1876
- Town of Plymouth v. PainterSupreme Court of Connecticut · 1846
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3Cited by47 opinions
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- Merchants Loan & Investment Corp. v. AbramsonAppellate Division of the Supreme Court of the State of New York · 1925
- State v. Superior Oil Corp.Superior Court of Delaware · 1940
- Tooker v. Inter-County Title Guaranty & Mortgage Co.New York Court of Appeals · 1946
- Dillon v. Scotten, Dillon CompanyDistrict Court, D. Delaware · 1971
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