Society for Savings v. Lake Shore & M. S. Ry.

Citations

• 30 Ohio C.C. Dec. 333
• 28 Ohio C.C. (n.s.) 454

Syllabus

<p>RAILWAYS.</p> <p>Grant, Leigh ley and Dunlap, JJ.</p> <p>Market Value of Railway Stock Absorbed Ascertained from Sales.</p> <p>Under Secs. 9025 G. C., et seq., relating to consolidation of railway lines, the “market value” of the stock of the company absorbed is properly ascertained by sales of stock made in good faith at any time within two years next preceding the making of the agreement of consolidation, and the value of said stock as so determined will not be set aside by a court on the plea that the true value of the stock is not shown by occasional sporadic sales, but must be determined from consideration of the value of the property owned and its earning power, together with the fact, if such be the case, that more or less of the net income has been turned back into the property instead of being distributed to the stockholders according to the usual custom.</p> <p>[Syllabus approved by the court.]</p>