OCR Text |
Show RIGHT TO EXAMINE HAS A LDIITATION New Jersey. Decision Begarding Inspection In-spection of Stock Books of a' Corporation. TRENTON. N, J., Feb. 25. The Supreme Su-preme court rendered an important decision de-cision respecting the rights of. stockholders stock-holders to examine books of corporations corpora-tions organized under the laws of this State. The case decided was that of O'Hara against the National Biscuit company. O'Hara, as a stockholder of the company, com-pany, made application to the registered regis-tered agent in this State for the purpose pur-pose of. examining the list of stockholders stock-holders to ascertain whether stock was owned by a certain person in Ohio, against whom he had a claim. The right to examine the books was denied, and O'Hara sued out a writ of mandamus, manda-mus, relying upon the thirty-third section sec-tion of the general corporation act, which provides that the books shall be open to Inspection during business hours to every stockholder. The opinion holds that the provision pro-vision In the thirty-third section is limited by the title of the act of 1S25, and that a mandamus can only be obtained ob-tained at the discretion of the court, where the relator shows that the rights he seeks to enforce are germane to his status as a stockholder. In consequence of these views the court denied the application. |