Salt Lake Tribune | 1901-05-26 | Page 2 | Standing of Corporations

STANDING OF CORPORATIONS I Decision Pertaining Thereto Handed Down in Chicago Chicago May 25 Judge Noeley l lag in the Circuit couut today rendered ren-dered a decision affecting the standing of foreign corporations doing business in Illinois The decision was rendered In the case of a number holders of common shares ot the Chicago Packing and Provision company and the liquidators liqui-dators of the r company The plaintiffs allege In their bill that I the English syndicate which oVned lh < i packing concern could not legally own sloHk In an Illinois corporation that they had no right to Issue preferred stock or to allow the holders preference prefer-ence stock a priority In the distribution distribu-tion of assets The liquidators now hold 5000000 In cash and the common holders wish to share pro rata In distribution Tit T-it was In support of this desire that tho allegations concerning the standing stand-Ing of foreign corporations In the State were advanced The defense demurred to these alle < gallons and Judge Necley today susf talned the demurrer Attorneys for the common shareholders will carry I the case to tho Supreme court