Rathbone v. Gas Co.
West Virginia Supreme Court
I. A stockholder may sue to protect the corporation and to compel an account in Wesl” Virginia : (a) in any case, in which “sufficient cause is shown therefor,” Code, ch. 53, sec. 58 ; (b) in any case, in “ which there is danger of the loss or misappropriation of the corporate property or a material part thereof.” Code, ch. 133, sec. 28. This right is expressly conferred on a stockholder by the statute quoted.
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I. A stockholder may sue to protect the corporation and to compel an account in Wesl” Virginia : (a) in any case, in which “sufficient cause is shown therefor,” Code, ch. 53, sec. 58 ; (b) in any case, in “ which there is danger of the loss or misappropriation of the corporate property or a material part thereof.” Code, ch. 133, sec. 28. This right is expressly conferred on a stockholder by the statute quoted. This statute is construed an enlargement of the general principles requiring a demand on directors, &c. Grumlish v. Railroad Go28 W. Va. 634. II. Apart from our statute, a demand and…
1Opinion of the Court
Snyder, Judge :
Suit in equity instituted February 7,1888, in the Circuit Court of Wood county by John Y. Rathbone, Charles H. Turner and A. G. Clark suing on behalf of themselves and all other stockholders of the Parkersburg Gas Company, against said gas company, O. S. Despard, B. M. Despard, H. Goff and W. A. MacCosh.
The bill avers, that said gas company is a domestic corporation organized in 1865 for the purpose of supplying the city of Parkersburg and its inhabitants with gas; that it is *800the owner of a valuable plant consisting of real estate and a system of pipes extending through the…
2Cases cited4 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1882
- Crumlish's Adm'r v. Shen. Val. RailroadWest Virginia Supreme Court · 1886
- Stevens v. DavisonSupreme Court of Virginia · 1868
3Cited by20 opinions
- Baillie v. Columbia Gold Mining Co.Oregon Supreme Court · 1917
- Smith v. CorneliusWest Virginia Supreme Court · 1895
- Virginia Passenger & Power Co. v. FisherSupreme Court of Virginia · 1905
- Miller v. MurraySupreme Court of Colorado · 1892
- Fornaseri v. Cosmosart Realty & Building Corp.California Court of Appeal · 1929
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