Wilson v. Brown
Supreme Court of Pennsylvania
Appeal, No. 115, Oct. T., 1920, by plaintiff, from decree of O. P. Allegheny Co., Jan. T., 1920, No. 2034, dismissing bill in equity in case of Mary O. Wilson y. Thomas L. Brown, George L. Brown, William M. Wishart, J. Howard Myers, these four individually and as trustees, Thomas L. Andrews, trustee, Richard Muse, and Marshall Foundry Co. Bill in equity to compel cancellation of stock alleged to have been fraudulently issued.
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Appeal, No. 115, Oct. T., 1920, by plaintiff, from decree of O. P. Allegheny Co., Jan. T., 1920, No. 2034, dismissing bill in equity in case of Mary O. Wilson y. Thomas L. Brown, George L. Brown, William M. Wishart, J. Howard Myers, these four individually and as trustees, Thomas L. Andrews, trustee, Richard Muse, and Marshall Foundry Co. Bill in equity to compel cancellation of stock alleged to have been fraudulently issued. Before Shafer, P. J. The opinion of the Supreme Court states the facts. The court entered a decree dismissing the bill. Plaintiff appealed. Error assigned was decree,…
1Opinion of the Court
Opinion by
Mr. Justice Kephart,
Appellant, a stockholder of the Marshall Foundry Company, filed a bill against a majority of the board of *227directors and others, wherein she asked for an injunction, an accounting and a cancellation of stock. A demurrer was filed by one of the defendants, admitting all facts and inferences well pleaded; and from the bill we find the following: The defendants, some years ago, issued to themselves three hundred and forty (340) shares of the stock of this company, without any consideration therefor, which stock (of the value of $34,000, upon which dividends were paid…
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