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KREHER APPEAL. (11/08/54)

THE SUPREME COURT OF PENNSYLVANIA


November 8, 1954

KREHER APPEAL.

Appeals, Nos. 235 and 236, March T., 1954, from order of Court of Common Pleas of Allegheny County, April T., 1950, No. 2969, in re Petition of Karl Kreher et al. Order affirmed. Proceeding upon petition of minority shareholders uner ยง 908 of Business Corporation Law for appraisal of stock values upon merger plans. Before SMART, J. Order entered refusing appointment of appraisers as to certain petitioners. Petitioners appealed.

COUNSEL

Ella Graubart, with her Patterson, Crawford, Arensberg & Dunn, for appellants.

Thomas P. Johnson, with him Robert L. Kirkpatrick, Lawrence P. Monahan and Kirkpatrick, Pomeroy, Lockhart & Johnson, for appellees.

Before Stern, C.j., Stearne, Jones, Chidsey, Musmanno and Arnold, JJ.

Author: Per Curiam

[ 379 Pa. Page 314]

OPINION PER CURIAM

These are appeals from an order of the Court of Common pleas of Allegheny County, refusing to appoint appraisers to evaluate the stock of the appellants, A. M. Kidder & Co. and Karl Kreher, two of seven petitioners who as dissenting shareholders filed a petition pursuant to Section 908 of the Business Corporation Law of 1933, P.L. 364. After rule issued and hearing, the court below granted the relief requested as to five of the petitioners who were the registered holders of 900 shares of stock, and denied relief to the appellants. The decision of this Court in Era Co.,

[ 379 Pa. Page 315]

Ltd. v. Pittsburgh Consolidation Coal Co., 355 Pa. 219, 49 A.2d 342, relied upon by the trial judge, is dispositive of the questions raised in these appeals.

Disposition

The order of the court below is affirmed on the opinion of Judge SMART.

19541108

© 1998 VersusLaw Inc.



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