Nellis v. Coleman
Supreme Court of Pennsylvania
October 4th 1881. Before Mercur, Gordon, Paxson,’ Trunkey, Sterrett and Green, JJ. Sharswood, C. J., absent. Error to. the Court of Common Pleas No. 1, of Allegheny county: Of October and November Term 1881, No. 23. Attachment execution, by Columbus Coleman against the Tradesmen’s Industrial Institute, defendant, and A. J. Nellis, garnishee.
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October 4th 1881. Before Mercur, Gordon, Paxson,’ Trunkey, Sterrett and Green, JJ. Sharswood, C. J., absent. Error to. the Court of Common Pleas No. 1, of Allegheny county: Of October and November Term 1881, No. 23. Attachment execution, by Columbus Coleman against the Tradesmen’s Industrial Institute, defendant, and A. J. Nellis, garnishee. On the trial, before Collier, J., the following facts appeared : The Tradesmen’s Industrial Institute was incorporated December 19th 1874, under the Act of April 29th 1874, for the advancement of the industrial arts. The company entered into a contract…
1Opinion of the CourtJustice Teunkey
The Tradesmen’s Industrial Institute invited loans and advances from its members and others, upon terms that no subscription should be binding unless $50,000 were subscribed ; that all sums so advanced in the nature of loans should bo repaid as soon as possible out of the income of the association from all sources, and in addition to refunding the principal sums, the profits for three years should be paid to the persons making the advancements pro rata; and that the loan should consist of fifty shares of the par value of $1,000 each. More was subscribed than was asked. Coleman and some others…
2Cited by1 opinion
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