Bucher v. Federal Baseball Club of Baltimore, Inc.

An underwriting' agreement between the Federal Baseball Club of Baltimore, Incorporated, and a number of persons, including the appellant, recited that the corporation had then •outstanding capital stock to the amount of $150,000 preferred and $150,000 common stock, and was desirous of liaising money for use as working capital for the ensuing year, and proposed to obtain the necessary funds by increasing its capital stock to $250,000 preferred and $250,000 common stock, the preferred to be offered to the stockholders at par, with such bonus, if any, of common stock as might be determined by…