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FRANZBLAU v. CAPITAL SECURITIES CO.

2 N.J. Super. 517 (1949)

64 A.2d 644

NATHANIEL W. FRANZBLAU, PLAINTIFF, v. CAPITAL SECURITIES COMPANY, INC., A CORPORATION, DEFENDANT.

Superior Court of New Jersey, Chancery Division.

Decided March 9, 1949.

Attorney(s) appearing for the Case

Mr. John J. Clancy, attorney for plaintiff.

Messrs. Ruback & Albach, attorneys for defendant.

STEIN, J.S.C.

The plaintiff holds 300 shares of the preferred capital stock of the defendant company. The total number of such shares, presently issued and outstanding, is 12,122. Those shares are of the par value of $30.00 each and entitle the holders to cumulative dividends at the rate of 7% a year. Also presently outstanding are 238,299-3/5 shares of the company's common stock, originally of the par value of $10.00 and now, by reason of the reduction hereinafter...

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