Leffingwell v. Evans

*352Opinion of the Court by

Judge Sampson

Reversing.

The Leon Stave Company was a corporation, organized under the laws of this Commonwealth on October 11, 1901, with a capital of $12,000.00 divided into one hundred and twenty shares, of the part value of $100.00 each. By its articles of incorporation it was to begin business on Monday, October 21,1901, and to continue for a period of ten years. Its business was to be conducted by a board of three directors. In January, 1910, some one suggested that the corporation increase its capital stock from $12,000.00 to $13,000.00, and issue the $1,000.00…