Oldtown & Lincoln Railroad v. Veazie
Supreme Judicial Court of Maine
On RepoRT from Nisi Prius, Hathaway, J., presiding'. Assumpsit, to recover assessments and interest on defend-an^’s subscription for one thousand shares of the capital in the Oldtown & Lincoln Railroad Company. The writ bore date of Dec. 9, 1854, and the cause was presented under the general issue.
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On RepoRT from Nisi Prius, Hathaway, J., presiding'. Assumpsit, to recover assessments and interest on defend-an^’s subscription for one thousand shares of the capital in the Oldtown & Lincoln Railroad Company. The writ bore date of Dec. 9, 1854, and the cause was presented under the general issue. In evidence was offered a charter, granted by the Legislature, on March 8, 1852, by which the defendant and others were made a body corporate by name of the Oldtown & Lincoln Railroad Company, for the purpose therein named. By the second section of the charter, it was provided that the capital…
1Opinion of the CourtShepley, C. J.
—The corporation was created by an Act approved on March 8, 1852, with a capital stock to “consist of not less than eleven thousand nor more than fifteen *577thousand shares.” The charter was accepted on September 8, 1852, when the corporation was organized and a vote, containing a recital that “a subscription has been obtained of shares exceeding the minimum number named in said charter,” was passed, “ that said subscriptions be accepted and made valid between said subscribers and this corporation.” This recital of the amount then subscribed is ascertained to have been incorrect. The capital…
2Cited by9 opinions
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