Smith v. Westchester Bronxville Realty Co.

This action is brought by a minority stockholder to restrain the officers of the Westchester Bronx-ville Realty Company from consummating a proposed bond issue, and carrying out the terms of a certain trust agreement which provides that, upon any distribution of the *76assets and funds of the defendant company, the holders of the said bonds shall be entitled to receive, in addition to the full payment of the principal and interest upon such bonds, an equal share with the stockholders of the balance, until the one-half apportioned to the stockholders shall amount to $90,200 (the sum paid into the…