Weston v. Columbus Southern Railway Co.
Supreme Court of Georgia
Promissory note. Stock subscription. Fraud. Before Judge Bower. Dougherty superior court. October term, 1891. The railway company sued Weston upon four promissory notes, each for the sum of $125, and each being for subscription to the capital stock of the company, payable respectively as twenty, forty and sixty miles of the proposed railroad and the whole line of the proposed railroad, not less than standard gauge, between Columbus and Albany, should have been graded, etc.,…
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Promissory note. Stock subscription. Fraud. Before Judge Bower. Dougherty superior court. October term, 1891. The railway company sued Weston upon four promissory notes, each for the sum of $125, and each being for subscription to the capital stock of the company, payable respectively as twenty, forty and sixty miles of the proposed railroad and the whole line of the proposed railroad, not less than standard gauge, between Columbus and Albany, should have been graded, etc., of which fact publication by the directors of the company in a newspaper having circulation in the county of the…
1Opinion of the Court
*289 Judgment affirmed.
The pleas were: He does not owe the plaintiff anything on account of the notes sued on, because said notes were procured by fraud, and neither they, nor the subscription to the plaintiff’s capital stock, •would [have been] made or given had the plaintiff' not concealed and '.kept from him the true and real facts by which the stockholders were to be required to pay their subscriptions and then defrauded of its true value. Col. Nelson Tift, a highly honorable and reliable gentleman and a shrewd and successful financier, in whom this defendant had the most implicit and…
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