...incorporation Act read: "Issue 0 stock and bonds limited.] § 21. No such corporation shall issue any stock o bonds, except for money, labor or property actually received and applied to tl purposes for which such corporation was organized. All stock dividends, and oth< fictitious increase...

...corporation shall be permitted to issue stock or bonds except for an equivalent in money paid, or labor done, or property actually received and applied to the purposes for which such corporation was created, and neither labor nor property shall be received in payment of stock or bonds at a greater value than the...

...corporation shall be permitted to issue stock or bonds except for an equivalent in money paid, or labor done, or property actually received and applied to the purposes for which such corporation was created, and neither labor nor pn>i>erty shall be received in payment of stock or bonds at a greater value than...

...STATE REGULATION — ISSUANCE OF STOCK. The provision of (.'oust. Ill. art. 11, § 13, that no railroad corporation shall issue any stock or bonds except...applied to the purposes for which such corporation was organized, and that all stock dividends and other fictitious increase of the capital stock of any such...

...pledged, and the shares for which such certificates are to be issued, shall ave been fully paid ; nor issue any stock or bonds except for money, labor, or property actually received, and applied to the purpose for which such corporation was created; and all fictitious stock dividends and other fictitious...

...'that no corporation shall issue stocks or bonds except for an equivalent in money paid, or labor done, or property actually received and applied to the purposes for which such corporation was created ; and neither labor nor property shall be received in payment of stocks or bonds at a greater value than...

...art 11, § 5 (Consol. St. Neb. 1891, p. 72), which provides that a railroad company shall not issue stock or bonds except for money, labor, or property actually received, and that fictitious Issues of stock or bonds shall be void, because at the time of the exchange the cash...

...provides: "No corporation shall issue stock or bonds except for an equivalent in money paid or labor done, or property actually received and applied to the purposes for which such corporation wns created, and neither labor nor property shall be received in payment of stock or bonds at a greater...

...: "The latter part of the clause of the constitution in question, which declares that 'all stocks, dividends, and other fictitious increase of the capital stock or indebtedness of such corporation shall be void,' we think clearly points out the chief object which the constitutional...

...dividend) was valid, 536 THE WEEK for the Constitution of that State has this provision : No railroad corporation shall issue any stock or bonds except...labor, or property actually received and applied to the purpose for which such corporation was created ; and all stock dividends and other fictitious increases...