General Inv. Co. v. Bethlehem Steel Corp.

RELESTAB, District Judge.

The complainant, a Maine corporation, is a holder of common stock of the Bethlehem Steel Corporation, a New Jersey corporation. The general purposes of the bill, as stated by complainant’s counsel, are:

“To enjoin the Bethlehem Steel Corporation. from guaranteeing the bonds and obligations of other corporations and mortgaging its property to secure such guaranties and the debts of other corporations, on the ground that the corporation has no authority to do the things complained of; .also, to declare invalid the guaranty by the defendant Bethlehem Steel Corporation of…