The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
v. i. ,?•:. l ^ - ^ - i i ^ ii£Z^ v * t h i s sea© t h e minority stockholder of a holding ©o:npe.ny ©lai :i®<t t h a t iftJMMiMNMI M • th® stockholders of the holding com* peny mis req'Lr^J la o r 4 f for the *rholly owned s u b s i d i a r i e s of t h e holr • ip*ry GOfcfMNMfera l l t h e i r a s s e t s t o another ©ompany « loag t « r a lease* The holding ee»pft.nyf nited I r a c t i o n lectri© -arry, owned a l l t h e stock of s e v e r s ! str@@t railway oo^|>ftnies| by Toting I t s shares in t h e s e s u b s i d i a r i e s i t hart ihess l e a s e a l l t h e i r pftpejpttM for i pjeylf I land CtaM|MB/« I I '-••• I MllFd ecKioa?iy# th@ fefjAej I s - All the stock of the ^iode Island Co;?.pan.y was, in t u r n , &tsq>,vir&d by a fourth MsjsjM(fa the Rhode Island S e c u r i t i e s Compcijy* p l a i n a a t sued the Tractlo-.- ;*> s c m - i t i e s Ooiaparty in equ t1f>lf»tlff t h a t su©h a feraasfsr of the property of th# subsidiary s t r e e t railway oompR.ni«rg T®Q'iiv®d tjhs SJSJMIMNM co^tsent of the stoc>;jr?l /: ers of th© Traotton 0ejapnsjf« Th® eourt held! t h a t the sjej|(Mtt| of the wfrlitl* a r y f s sole stooWiolder i * e , the Bnaetlon Oompany, isas s^iffioisnt, and t h a t unanimous consent ef the i n t h i s oornn^otion i t v Iders ef t h e fraetiom Company was stated: it i s impossible, .iow©ver» t o aooept the t h a t fche BORHnaserit t f a shareholder «f the f r a c t i o n should be gfcvejR th« s«®ie eff—l as t h e nofi-assetit of a aViarshold^r in ©aeh si the l e s s o r s t r e e t railway .ither as » yiatter si • nor as & -oitt«r of substance can t h e (WmplliBMil bf fsjsjajHM as a shareholder, or e n t i t l e d t o o l a i « %b* r i g h t s oil & »h&rsholclffr 1 B any one of the l e s s o r oompanies» 9sj i s merely a s^tareholder in & corporate owner of a l l eke sjfcfjtjtl o- t h s •%re<> rfeil'sre.y c o r p o r a t i o n s , m*k iff which l i s t i l l i rfistltiet corporation whose SJHSJMI IMP ignored •** •A,
@FedFRASER