Motor Terminals, Inc. v. National Car Co.

WOODBURY, Circuit Judge.

This is a derivative stockholder’s suit instituted iby the plaintiff as the holder of one-half of the stock of another corporation, the defendant National Fitch Corporation, for a declaratory judgment with respect to the meaning of certain provisions in a contract entered into by the latter and still a third corporation — the defendant National Car Company. Federal jurisdiction rests upon diversity of citizenship and amount in controversy.

The suit is peculiar in that the plaintiff is a corporation, rather than an individual. But this feature, although perhaps novel, is…