The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-06-26

had .,l.I si. on.so ~ fh~-. res .,,uds 81
~ ~ AZ ". ard 'hus .scur-i th" pro--s'.-
With ~hich Co purrha-s stock for retire"
nfsnt. 1t u inrs,ngetVabln that hnv court
20 s-1tIfv would have - The 'rtr@n'iHn
a-isis without IA" -iight"-' proof 81 itsuh
~ vast" ~ Impression. Nh'n ' n"l -
appIoNei Nv -, argv a majority " 'N'
.iu~thold~t- tf"r~ - D. fui" in N'N
I-r-ry vhich p-uhibi', . cutp"r''r'n u 'W
disTo~irg ~ r- u1''- pf iuui- i"f
than their f,cr NNtt"
Ihs tsp..utnuf NUh ! y N,rrtu co.,.
u wa trgl.sI Zoe IN" appellant.
. Absolutely hnuud noe hHUN'r- 90
iakD tir h.,.d- 20 tr, "N'-Nt eft go. H'EN
amt - paw TOR tH'W 10 o." 'tn''r -,'
namely ff preferred .fo,h Ht DO a 900
,tan. and E.I- obviously WN.|'t|' no 'i'f
nous rick i.p..a.rf uivt TIE Nu,'utI"I 'l
the mou", u,fN't ~" DIR" tor
cid" tua' ,isN needed no h,uk'r- Hd N'
they then -rlV,s wuuld -sil t."If '"H -'''H
and tuus render q guaranty >'l"l'''' .i-
necessary. resolved that th" contra ~
not frtIN To- become ct 20 Pee 'i'ff'|''
urttl after approval thereof h' ''. -''
loidrr- ~ >I~sul meeting t--' l''n
holdor- 30 tls special meet = D. ',' 'l
-o,.u ~. To- ltv" approved iH' l' ''
a rt-1urttou ot Ito pfrt' rcd -|utn NN ..'
Of honi- or oui ~ no" proceed. ". is''u,
amt iu iI," dt-sI ptuN'-t %" 90. .f"
I Il Nov glu 60 ts, tuss iU'N .''r 'f'I' f''N
stu,kholi.r.. cheated 20 r,~'fN" '. S.. 10
sell thcit stock p-foIorttu'af,I' 100 'i" or
pout!ou Ih.N had the power - I'I't'
the paym"rt Of the . p"r cont conn --'l
To- - Norean 4 Go and 'n" svrdt.''".
had they considered thar ~u'' t yep We
for thrir h"-i interest," Inc ''".'. OFT i'''
W.. IN so them
I'M NEw IHRsEY Law ~ rHE CASH
In discussing n" provision - 100 '''
~ iSe5. coun-'l said
4, would not h" q far or rea~o' shl" '"n-
stTuctlnU Of ~" SiN'ut" To- bold ''t' " -
ttorfy.,I a purchase OF stock only u'uNl'.i
...N .r4h. ~. made FNNah|H. IFnf- 900 r 81
sto,kIold"r- ~" siuiu'" d" '
ths, the stock shall d. r]urc'n-"i .',.,
,ortrar,. ~ expressly Hu'hotIy'~ ''r rut-
,I,.. 81 .,rr',tu share. for '''tr' .'' Vs.
sho,c ]rotut.-l ONT. ih" -'rin'. r 'l ll'
prpS I-iou tor . 'orrul~"tN ttt ." I''' -
~ ~. stock Of .,.r siu,k' o,d'r ~ .'''f
wetiol, vur0"v'r tl' ioti'f- "' I'
nu,.t,r 4rourt Of stock ~n1I vote ~ 'Ny
drrrr,sa o. pfHs,rIhsi Nv tv i" bona
III. Grant - uu'tHrfs to uuf'i ... ''''t .
shsrs- ~ ret f"nchi - subject %" ,I'
diflo ON that it- r~vuU-i'" amount ul ~I'f'"
shall be- rlr,.t-'d t1't '' IRON .'
loIt.r- would render frI> p""...."N lf
c,iIy rr,riurl..- .h"csu~" 80 .'.'t 3D. "l''l
hv refusing w -"li ~. rt'I''' f
stock. would b" cu,ni"-t 10 tlo.s ,r' "'t'''
srv s,'ion
G.,rrr down 80 M" 'on-'ta'iou.hfv 4
the A., Il iac. counsel f'r t'r Ni'It'r'1'f'
hon argued that ia" complainant -up-
rar'ad Va. contention that ~ - was
Unconstitutional ~ ~" ass h rom
,inrod.
m. prircirlc rndcr',ior 'h"s" % "' is
Tint an 49, violates 'T" Gov -'''''"i' ~
ytsI,r vh.r ~ O. irfrud"i uH 'U" 'tlrt'' 100
g. ,pply ONLY :" uu" corporation. ~ H'''r
10 hs applirahle 80 srv nih"f. 1'i ''''' N
b.. clearly evident that 'h" a't"r"r' N .A-~l-
Hr,,irn VA arhitrur' ~ IIH~"r' Nd ~
no .,lc purpo-. 81 ~p'erirg e particular
rasr III" m"r" 'a'f that ~" I n''l N'L''-
steel CORPORATION may have ''iI"''l -
adopted thi~ l"si-la'io' 'snn.' in'' " 80
lafi,, ~ tho Constitution 81 Ir"'l-l"I "l',-
d, - gl,arIt tho ir'st'i % OF tn l'g >IH-
,ure. to H. gathered irpW 20" lg'sl't
used that w." - should "r.V apply - 'h''
III u, nav h. daun,cd vh"rh.r 'nr &C., - iprc
%confsr~ any y"rpHr'i" pnr.'-, Nl'hl. w."
IN. .-~"r,r 20 - PROVED o. I TO regulate
~ U,.i. -. c~varri-. ~ ,1 "NE-'iug Utw"t
II the power 80 retire p-''"r-"d -i",k ~
p.r and &c. t.-H" nurd- - ''''rf"i nn''-
fhsrc'ar previously '.I-''d, 'I'n ~" i'N
a., hut regulate. tho '.H.!- ur fH'ilIi nf
,b. .N,-,t., ~ 'ba' ~rr.,N-'lrg ri"h'
The t,t aIpli,- 20 every ''rpor1i. on who-"
"ond,on~ r"' "" Ni,,",, :" ~,
..r~s and hroti enough 10 reach 'rlhN cop
porltfou- nov 10 81 'r'''. - N"H III"
cover "y"rN '"rt"r ',"i lr ~" iu'lt' Ni!,h
may devotion H ,oTuIt.Ut o. s--'l~ 'hd. earn
INC such - vii 'NIui' - q" u''. bn' II
hi. were NOT -, mt 'u'r" we're "'lF "l''
corporation nov N "N'-t"i'' "t''
avn Of the act - isn. namely. IN" I lii'l
S,ltes St..l ,nrrorFtion. -" -tatGt Noutd
n.y.uh.l-~- not h- e .p"''l N' ooni"frifs
Dorrorr'r power within a." -"''."d rul"
ia this stat"
NJ, IJnsahlrv concluded hi arsim'nt
INST h. for. ia" huur - adI"Irum' ui. amt
\ttnmrv-G~unral Mc,ar''r. VII" rTr"-
IT. he complainant. viii make IN argu-
mont to-aay - .'ur'IN ull ~" iH'f'
hod'pru" uul" haruiC New YORK H"'''-
that A. would not - civ l.''- ia 'u" ca
until The natncs Of MIR ~'''-'r. 'H.'ir'
and Mora~r'l v"r" stricken 'h'f"it'n.