Hogg v. Armstrong

Lively, Judge:

Point Pleasant Trust Company, organized in 1906, became insolvent about 1927, and this suit was instituted by its receiver against it and its several stockholders to collect from them “double liability”, that is, $100.00 for every share of stock held by them for the purpose of paying off and discharging the liabilities of the Point Pleasant Trust Company (hereinafter called the Trust Company), accruing while they were such stockholders. The stockholders denied liability; evidence was taken before a master commissioner who made a report; and the decree of November 7, 1930, held…