Patterson v. Portland Smelting Works
Oregon Supreme Court
From Multnomah: Loyal B. Stearns, Judge. This is a suit by Thomas Patterson, James Lotan, and Julius Ordway to set aside a sale of the real property of an insolvent corporation to a director thereof.
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From Multnomah: Loyal B. Stearns, Judge. This is a suit by Thomas Patterson, James Lotan, and Julius Ordway to set aside a sale of the real property of an insolvent corporation to a director thereof. The transcript shows that the Portland Smelting & Refining Works? a corporation, being in need of funds to carry on the business in which it was engaged, twenty-one of its stockholders, including the plaintiffs, on February 8, 1892, in consideration of the corporation pledging to them its property as security therefor, executed to it their several promissory notes, aggregating $100,000, which it…
1Opinion of the CourtJustice Moore
the court.
1. It is contended by plaintiffs’ counsel that the directors made no reasonable effort to secure a purchaser of the corporate property at private sale, and that the notice of the public sale, as published by their agents, failed to state the character of the property to be disposed of; that the tract of land upon which the smelter was erected contained sixteen and one-half acres ; but the notice of sale imparted no information of its area; that the property had a frontage of three hundred and ninety-three feet on the ship channel of the Willamette River, a convenient wharf extending…
2Cases cited18 opinions
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Flournoy v. City of JeffersonvilleIndiana Supreme Court · 1861
- Gordon v. PrestonSupreme Court of Pennsylvania · 1833
- School District Number Two v. LambertOregon Supreme Court · 1895
- Harts v. BrownIllinois Supreme Court · 1875
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3Cited by7 opinions
- McClean v. BradleyDistrict Court, N.D. Ohio · 1922
- In re Quartz Gold Mining Co.District Court, D. Oregon · 1907
- Glaser v. Slate Construction Co.Oregon Supreme Court · 1952
- Wabash Railway Co. v. Iowa & Southwestern Railway Co.Supreme Court of Iowa · 1925
- Title & Trust Co. v. Security Buildings Corp.Oregon Supreme Court · 1929
2 more not listed; retrieve them via the Exa API.