Pennsylvania Railroad v. Pennsylvania Co. for Insurance on Lives & Granting Annuities

Citations

• 205 Pa. 219
• 54 A. 783
• 1903 Pa. LEXIS 550

Syllabus

<p>Railroads — Corporations—Block— Voting stock — Merger.</p> <p>Whei-e a railroad company deposits stock of another railroad company with a trustee under an agreement in writing, reserving “ all the rights, powers and privileges, belonging or incident to the ownership of the stock,” including the right to vote the stock, the railroad company has a right to exact a proxy from the trustee so as to vote the stock for the merger of the railroad company whose stock is deposited, with another company, such merger being authorized by law, and this is the case although the trustee will as a consequence of consolidation be compelled to receive back the stock of the consolidated company, instead o£ stock of the original company.</p>