Lewis v. Montgomery

This was a bill in chancery, brought by certain creditors of the Rushville Shawl Mills, a corporation, against the directors and officers of the corporation, to enforce the per-: sonal liability imposed by section 16, of the “Act Concerning Corporations,” approved April 18, 1872. 1 Starr & Cur., 616. The Rushville Shawl Mills was organized under that act in April, 1885, with a capital stock of $32,000, divided into 3,200 shares of $10 each, and at its organization, Augustus Warren subscribed for and became the owner of 2,400 shares of its stock, the remaining 800 shares being subscribed for…