Yetter v. Delaware Valley Railroad

Citations

• 206 Pa. 485
• 56 A. 57
• 1903 Pa. LEXIS 746

Syllabus

<p>Equity — Equity practice— Equity rules — Master—Corporation—Elections.</p> <p>Since the adoption of the new equity rule's the court of common pleas has no power to appoint a master to conduct a corporate election if there is no decree ordering the election; and not even the consent of the parties can give it such power.</p> <p>Corporations — Stock—Illegal issue of stock — Constitutional law — Constitution of Pennsylvania, article 16, section 7 — Act of May 7, 1887, P. L. 94.</p> <p>Under the Act of May 7, 1887, P. L. 94, which was passed to carry into effect section 7, article 16, of the constitution relating to the illegal increase of stock of a corporation, the remedy by proceedings on the part of the attorney general is exclusive, and no suit can be maintained by by stockholders against the corporation to declare stock invalid. The Act of May 4, 1893, P. L. 29, does not give stockholders any such power.</p>