State v. Stebbins
Supreme Court of Alabama
This was an indictment found in the Circuit Court of Mobile county, against Stebbins and eight others, charge ing them with having exercised banking privileges, in issuing a note for circulation as a bank note, without the authority of law, and contrary to a statutory enactment.
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This was an indictment found in the Circuit Court of Mobile county, against Stebbins and eight others, charge ing them with having exercised banking privileges, in issuing a note for circulation as a bank note, without the authority of law, and contrary to a statutory enactment. The indictment consisted of two counts: the first charged that the defendants, (nine in number, in their individual names,) merchants, did on the 17th day of April, 1827, &c. issue for circulation, without the authority of law, a certain paper writing, purporting to be a bav.k note, as a bank note, &c. as follows : “…
1Opinion of the Court
JUDGE SAFFOLD
delivered the opinion of the Court.
In the determination of this case, it is necessary to make a brief examination into the nature and design of corporations in general, and of this in particular. The object and necessity at all times and in every country, of incorporating companies, has been to give them perpetuity and legal authority to exercise specific powers and privileges of a nature promising some degree of public utility, and to which individuals in their natural capacity, are supposed incompetent; or such as are of a nature so far involving the general interest of…
2Cases cited1 opinion
- Head & Amory v. Providence Ins. Co.Supreme Court of the United States · 1804
3Cited by4 opinions
- City Council of Montgomery v. Montgomery & Wetumpka Plank-Road Co.Supreme Court of Alabama · 1857
- McDavid v. Bank of Bay MinetteSupreme Court of Alabama · 1915
- Marion Savings Bank v. DunkinSupreme Court of Alabama · 1875
- Smith v. Alabama Life Insurance & Trust Co.Supreme Court of Alabama · 1843