Minona Portland Cement Co. v. Reese
Supreme Court of Alabama
Appeal from' Selma City Court. Heard before 1-Ion. J. W. Mabry. ' Bill by J. E. Réesé and others against' the Minona Portland Cement Company, and others, to dissolve the corporation, distribute its assets and cancel certain stock. From a decree overruling a demurrer to the' bill as amended, the defendants appeal.
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Appeal from' Selma City Court. Heard before 1-Ion. J. W. Mabry. ' Bill by J. E. Réesé and others against' the Minona Portland Cement Company, and others, to dissolve the corporation, distribute its assets and cancel certain stock. From a decree overruling a demurrer to the' bill as amended, the defendants appeal. The facts on which the assertion is based that an appeal to the directors would be vain must be stated with particularity and' definiteness before an individual stockholder can maintain a bill to right corporate wrongs. — Crow v; Florence I. & C. Co., 143 Ala. 544; L. & V. R. R. Go.…
1Opinion of the CourtEvans, J.
One of the appellants, Minona Portland Oement Company, is a private domestic corporation organized under the laws of the State of Alabama. The bill in this case ivas filed in the city court of Selma by certain persons who own preferred stock in said corporation against those owning the common stock therein, together with the officers of said corporation and the said corporation itself. The purpose of the bill is to dissolve the corporation and to cancel, certain stock issued, which is alleged to have been fictitiously paid up, to distribute the. assets of the corporation among the…
2Cases cited2 opinions
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