Ventura & Ojai Valley Railway v. Hartman
California Supreme Court
Appeal from a judgment of the Superior Court of Ventura County. B. T. Williams, Judge. The facts are stated in the opinion of the court.
1Opinion of the CourtHarrison, J.
The Ventura & Ojai Valley Railway Company was incorporated under the laws of this state April 21, 1892. Its capital stock, as provided in its articles of incorporation, was $250,000, divided into 2,500 shares of $100 each. Of this amount only 260 *262shares were subscribed at the commencement of this action. Prior to its incorporation a preliminary agreement therefor had been entered into between several individuals, which was to become operative in the event that $20,000 should be subscribed to its capital stock. This amount having been subscribed, the necessary-steps for its incorporation were…
2Cases cited3 opinions
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