Coltrane v. Baltimore Building & Loan Ass'n
U.S. Circuit Court for the District of Maryland
In Equity. In the matter of the intervening petitions of S. Fannie Twining and Eunice A. Pearce. On exceptions to report of John C. Rose, special master. Tlie hearing before the special master was at the instance of the petitioners, Mrs. Twining and Mrs. Pearce, who are holders of the so-called full-paid stock of the Baltimore Building & Loan Association of Baltimore City.
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In Equity. In the matter of the intervening petitions of S. Fannie Twining and Eunice A. Pearce. On exceptions to report of John C. Rose, special master. Tlie hearing before the special master was at the instance of the petitioners, Mrs. Twining and Mrs. Pearce, who are holders of the so-called full-paid stock of the Baltimore Building & Loan Association of Baltimore City. The matter came on to be heard before the special master upon the issues raised by the petitions of Mrs. Twining and Mrs. Pearce. These petitions alleged that the petitioners, as holders of the full-paid stock, were…
1Opinion of the Court
MORRIS, District Judge.
The conclusions of the special master .may be summarized as follows: (1) Holders of the paid-up stock are stockholders of the defendant corporation, and are not its creditors. The defendant corporation had power to issue paid-up stock, and the holders of that stock cannot now question that it had such power. (2) Neither the corporation nor the holders of other classes of stock can now recover back from the holders of the paid-up stock the interest or dividend which has been'heretofore paid the holders *291of such paid-up stock. (3) Neither the by-laws nor the certificates…
2Cases cited3 opinions
- Cook v. Equitable Building & Loan Ass'nSupreme Court of Georgia · 1898
- Baltimore Building & Loan Ass'n v. Powhatan Improvement Co.Court of Appeals of Maryland · 1898
- Alexander v. Southern Home Building & Loan Ass'nU.S. Circuit Court for the Northern District of Georgia · 1900
3Cited by6 opinions
- Pacific Coast Savings Society v. SturdevantCalifornia Supreme Court · 1913
- Aldrich v. GrayCourt of Appeals for the Sixth Circuit · 1906
- Cooper v. NewtonU.S. Circuit Court for the Southern District of Georgia · 1908
- Floyd-Jones v. AndersonMontana Supreme Court · 1904
- People v. Metropolitan Mutual Savings & Loan Ass'nAppellate Division of the Supreme Court of the State of New York · 1905
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