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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. Excerpt: ...That it was a part of such scheme, that the money paid into said company should be immediately returned to the stockholders thereof by the means of a dividend in cash, and that in pursuance of said scheme the said dividend of $15 a share was declared and paid on or about the 27th day of April, 1887, as aforesaid. Whe1'efo1'e, these plaintiffs pray judgment: I. That it be decreed that the defendant The New York and Texas Land Company, Limited, received and became the owner of said lands, stocks and bonds as the trustee of its scripholders to the extent of threefourths of the proceeds thereof, and that it owed a duty and obligation as such trustee to such scripholders to appropriate and apply three-fourths of all the proceeds of said lands, stocks and bonds to the purchase of said scrip at the lowest price for which it could buy said scrip or to its redemption at par, and that all of said scrip, whether purchased below par or redeemed at par, was thereby canceled and incapable of reissue, and that it was a breach of its trust and a violation of its duty to its scripholders and of their rights to make and distribute the said scrip dividend of $1,125,000 among its stockholders as aforesaid, and to declare and pay out the cash dividends of $1,590,000 to said stockholders. That the said company has thereby diverted from the scripholders at least twelve hundred thousand dollars, and has become bound to restore the same and hold or apply it for the purposes of purchasing or redeeming said scrip, and that all the individual defendants who acted as directors of said defendant company are personally liable to the said company and to plaintifl's and to the other scripholders of said company to the amounts necessary to redeem all the outstanding scrip of the...show more

Product details

  • Paperback | 316 pages
  • 189 x 246 x 17mm | 567g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236826426
  • 9781236826428