U.S. Circuit Court for the District of Eastern Louisiana July 2, 1885 (Seignouret v. Home Ins. Co.)

Pardee, J.

The suit is brought to restrain the Home Insurance Company from reducing its capital stock. The question is one of the power of the company, and not of the propriety of its proposed action. It is well-settled corporation law, “that a corporation has no implied authority to alter the amount of its capital stock where *333the charter has definitely fixed the capital at a certain sum.