Atlantic Reporter (Volume 5); Cases Argued and Determined in the Courts of Connecticut, Delaware, Maryland, New Hampshire, New Jersey, Pennsylvania, R (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1886. Excerpt: ... (63 Conn. 861)j.; ' 7. Town Of Middletown V. Boston & N. Y. Air-line R. Co. (Supreme Court of Errors of Connecticut. January, 1886.) 1. Railroad Companies--Lease Of Road--Depreciation Of Stock. The right of a railroad company to make a lease of its road, which is authorized by its charter, cannot be defeated by the fact that such lease will destroy or impair the market value of the stock; nor by the fact that the holders of the common stock are deprived of any chance of dividends during Its continuance. ' 2. Same--Pleading--Fraud. An allegation in a complaint that, by the provisions of the lease, the resources of the company are fraudulently appropriated for the benefit of the holders of the preferred stock, is not a charge of fraudulent conduct or intent in making the lease. 8. Same--Avotding Lease--Suit Bt Stockholder--Rights Of Creditors. 1 Injuries done to creditors and bondholders of the company are not a ground for relief in a suit by a stockholder to avoid the lease. ." . '(I.. ' I'.'/(' i I Appeal from superior court, Middlesex county. ' Suit by stockholder to enjoin defendant from making a lease of its road to the New York. New Haven & Hartford Railroad Company for 99 years. Defendant's demurrer to the complaint having been sustained, the plaintiff appealed. r. i - S. L. Warner and A. W. Bacon, (with whom was S. A. Robinson, ) for plaintiff and appellant., .. Simeon E. Baldioin, for defendant and appellee., Beardsley, J. This case comes before thiB court by appeal from the judgment of the superior court that the complaint is insufficient. The plaintiff alleges, in substance, that it is the owner of 1,120 shares of the common stock of the defendant company; that said company is about to lease its railroad to the New York; New Haven & Hartf...