Bangor Electric Light & Power Co. v. Robinson
U.S. Circuit Court for the District of Massachusetts
In Equity. Bill of interpleader brought by the Bangor Electric Light & Power Company, a Maine corporation, and Frederick M. Laughton, president thereof, and a citizen of Maine, against Elizabeth R. Lee and Augustus G. Robinson, both citizens of Massachusetts, to determine the right to a certificate of 100 shares of stock in the complainant corporation. Decree in favor of defendant Robinson.
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In Equity. Bill of interpleader brought by the Bangor Electric Light & Power Company, a Maine corporation, and Frederick M. Laughton, president thereof, and a citizen of Maine, against Elizabeth R. Lee and Augustus G. Robinson, both citizens of Massachusetts, to determine the right to a certificate of 100 shares of stock in the complainant corporation. Decree in favor of defendant Robinson. The bill shows that complainant Laughton, in his individual capacity, sold to defendant Robinson the certificate of stock in question, and transferred the same to him by an indorsement in blank, that no…
1Opinion of the Court
Putnam, Circuit Judge.
In the view of the court, no statute, either of Maine or Massachusetts, affects this case. The statute of Maine applicable to certificates of stock provides that they may be transferred by indorsement and delivery, hut that transfers shall not be valid, “except between the parties thereto, until the same is so entered on the books of the corporation,” etc. The question under this statute applicable to this case is: Who are the “parties” with reference to whom the statute by exception declares this transfer valid? In other words, whose name shall be inserted in the blank…
2Cases cited16 opinions
- Bank v. LanierSupreme Court of the United States · 1871
- Allen v. South Boston RailroadMassachusetts Supreme Judicial Court · 1889
- Greenfield Savings Bank v. StowellMassachusetts Supreme Judicial Court · 1877
- Railroad Co. v. SpragueSupreme Court of the United States · 1881
- Cowdrey v. VandenburghSupreme Court of the United States · 1880
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