Somerville v. St. Louis M. & M. Co.
Montana Supreme Court
Appeal from District Court, Lewis and Clarh County; J. M. Clements, Judge. Action by J. C. Somerville and others against the St. Lonis Mining and Milling Company of Montana. From an order denying an injunction, plaintiffs appeal.
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Appeal from District Court, Lewis and Clarh County; J. M. Clements, Judge. Action by J. C. Somerville and others against the St. Lonis Mining and Milling Company of Montana. From an order denying an injunction, plaintiffs appeal. By virtue of this statement in the certificate of incorporation and the statement in the certificate of stock issued, that the stock should be nonassessable, a contract was entered into between the corporation and each stockholder that no assessment would be levied upon the stock issued to him. (Wall v. Basin Min. Co., 16 Idaho, 313, 101 Pac. 733.) As said by the…
1Opinion of the CourtJustice Holloway
The St. Louis Mining and Milling Company is- a domestic corporation, organized under the provisions of Chapter 25, Division 5, General Laws, Compiled Statutes of 1887, wúth a capital stock of $5,000,000, represented by 500,000 shares of the par value of $10 each. The certificate of incorporation and every stock certificate issued prior to 1901 recites that the stock of the corporation is nonassessable. In 1901 a meeting of the stockholders of the corporation was held, at which 304,680 shares were represented in person, and 52,590 shares by proxy. William Mayger was present, representing in…
2Cases cited3 opinions
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
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- Allen v. Ajax Mining Co.Montana Supreme Court · 1904
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- Mid-Northern Oil Co. v. WalkerMontana Supreme Court · 1922
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