Englander v. Osborne
Supreme Court of Pennsylvania
Appeal, No. 73, Jan. T., 1918, by John G. Hoffman, from decree of O. P. No. 1, Philadelphia Co., Sept. T., 1917, No. 4557, overruling demurrer and awarding an injunction on bill in equity in case of Samuel Englander, Executor of Estate of Matilda DeWitt, deceased, v. Charles Osborne, and John G. Hoffman, Hoffman, DeWitt & McDonough Co., Lydia Hoffman, James Gates, W. Aden, P. Carton, Penna. Co. for Insurance on Lives, Etc., Executor of Estate of Manuel DeWitt, deceased.
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Appeal, No. 73, Jan. T., 1918, by John G. Hoffman, from decree of O. P. No. 1, Philadelphia Co., Sept. T., 1917, No. 4557, overruling demurrer and awarding an injunction on bill in equity in case of Samuel Englander, Executor of Estate of Matilda DeWitt, deceased, v. Charles Osborne, and John G. Hoffman, Hoffman, DeWitt & McDonough Co., Lydia Hoffman, James Gates, W. Aden, P. Carton, Penna. Co. for Insurance on Lives, Etc., Executor of Estate of Manuel DeWitt, deceased. Bill in equity to. enjoin the declaration of a dividend on the common stock of a corporation. Before Shoemaker, J. The…
1Opinion of the Court
Opinion by
Mr. Justice Frazer,
Plaintiff’s decedent owned certain shares of the six per cent, cumulative preferred stock of the Hoffman, DeWitt & McDonough Company, one of the defendants. No dividends were paid on either the company’s preferred or common stock until 1917, a period of nine years, when a dividend of fifty-four per cent., covering the current year and all arrearages, was declared and paid on the preferred stock, and at the same time a dividend of equal amount was declared on its common stock. Plaintiff began these proceedings to restrain the payment of the latter dividend,…
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