Drewry-Hughes Co. v. Throckmorton
Supreme Court of Virginia
Error to a judgment of the Law and Equity Court of the city of Richmond, in an arbitration proceeding under Chapter CXLIII, Code of 1904, sections 8006-3010. Judgment for the plaintiff. Defendant assigns error.
1Opinion of the CourtPrentis, J.
Drewry-Hughes Company, a corporation organized under the laws of Virginia for the purpose of doing a wholesale dry goods and notion business, found its business unprofitable and decided to distribute its assets. All of the debts of the corporation have been paid, and the question •here involved is as to the amount of dividend to be paid to Throckmorton, trustee, the holder of eight shares of its cumulative six per cent, preferred stock.
The controversy was submitted to the arbitrament of Honorable Beverley T. Crump, who is also judge of the Law and Equity Court of the city of Richmond. The…
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