The Virginia Law Register Volume 18

The Virginia Law Register Volume 18

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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. 1913 edition. Excerpt: ...52 L. Ed. 222. See, also, generally, Pennsylvania College Cases, 13 Wall. 190, 212-214, 20 L. Ed. 550; Miller 0. People of State of New York, 15 Wall. 478, 21 L. Ed. 98; Vi/right 1/. Minn. Mutual Life Ins. Co., 193 U. S. 657, 663-664, 24 Sup. Ct. 549, 48 L. Ed. 832; Anderson 1/. Commonwealth, 59 Va. 295. 2, 3 In January, 1904, upon the recommendation of the directors of the Riverside Cotton Mills Company, the stockholders at a meeting regularly held, in which 18,002 shares of the entire stock of 20,000 shares of the company were present and voting, voted unanimously in favor of having the charter of the company amended so as to authorize it to acquire and own stock in other companies not exceeding 30 per cent. of the capital stock of that company. The charter was so amended in accordance with the act of assembly entitled "An act concerning corporations." The object of the amendment, as alleged in the bill, was to enable the Riverside Cotton Mills to acquire $350,000 of the stock of the Dan River Power &.lanufacturing Company in addition to what the former then held in the latter company. The additional stock authorized to be acquired was acquired, and the charter as thus amended acted on without objection. At the time that amendment was sought by the Riverside Cotton Mills and granted by the State Corporation Commission, the present Constitution of the state was in force. Section 158 of that instrument (Code 1904, p. cclvii), which had been carried into a statute (subsection 8, 1105a, Pollard's Code), provided that "every corporation heretofore chartered in this State, which shall hereafter accept, or effect, any-amendment or extension of its charter, shall be conclusively presumed to have thereby more

Product details

  • Paperback | 424 pages
  • 189 x 246 x 22mm | 753g
  • United States
  • English
  • black & white illustrations
  • 1236841190
  • 9781236841193