Reports of Cases At Law And in Chancery Argued And Determined in ..., volume 258
Reports of Cases At Law And in Chancery Argued And Determined in ..., volume 258
Illinois. Supreme Court
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(Faulds v. Yates, 57 111. 416.) This case has been sustained by later decisions of this court, (Higgins v. Lansingh, 154 III. 301 ; Kantsler v. Bensinger, 214 id. 589;) has been approved by the decisions of the courts of other States, (Brightman v. Bates, 17s Mass. 105; Smith v. San Francisco and North Pacific Railway Co. 115 Cal. 584;) has been cited by text writers announcing the law as therein stated, (Purdy*s Beach on Private Corp. sec. 704a,) and we regard the de- cision as sound in princi...ple. "It is as legitimate for a majority of stockholders to combine as for other people. The fact that they expect *gain and advantage* * * ♦ to accrue to them does not make the combination unlawful. That expectation and in- tent would have that effect only if the gain was to be at the expense of the corporation or in some way was intended to work a wrong on the other stockholders. * * * jf stockholders want to make their power felt they must imite. There is no reason why a majority should not agree to keep together." Brightman v.
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