Morrison Waite

“ Their lease, which was in reality the subject-matter of the action, has been canceled, and a delivery of the leased property to the iron company has been ordered. The complainants are entitled to the immediate execution of such a decree. The receiver to whom the delivery is to be made was not appointed to hold the property until the rights of the parties could be adjudicated, but to stand, subject to the direction of the court, in the place of, and as and for, the corporation, because, under the circumstances, the corporation is incapacitated from acting for itself. ”

“ The defendant directors have not in form been removed from their office, but their power as directors has been taken from them, and they are no longer able to carry into effect the orders of the stockholders made in fraud of the rights of the minority at the meeting in October. ”