Pacific Railroad v. Renshaw
Supreme Court of Missouri
Error to St. Louis Court of Common Pleas. This was an action brought by the Pacific railroad, a corporation, to recover palls upon stock subscribed by Renshaw, and which he refused to pay. There was a judgment for the defendant, and the plaintiff appealed. The defence relied upon appears in the opinion of the court.
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Error to St. Louis Court of Common Pleas. This was an action brought by the Pacific railroad, a corporation, to recover palls upon stock subscribed by Renshaw, and which he refused to pay. There was a judgment for the defendant, and the plaintiff appealed. The defence relied upon appears in the opinion of the court. It is a principle well grounded, both in law and reason, that partnerships or private joint stock companies, acting under corporate powers, have no Authority to change tbeir fundamental articles, or to appropriate funds that have been procured by them for a specific purpose to a…
1Opinion of the CourtGamble, Judge
1. The railroad company was incorporated by an act approved 12th March, 1849, with power to construct a railroad from the city of St. Louis to the city of Jefferson, and thence to some point in the western line of Yan Burén county, in this state, with a view that the same may be hereafter continued westwardly to the Pacific ocean, and with authority to extend branch railroads to any point in any of the counties in which said road may be located. The charter thus granted was subject to the provisions of the general act concerning corporations, (R. C. 230,) the seventh section of which provides…
2Cited by4 opinions
- Gregg v. Granby Mining & Smelting Co.Supreme Court of Missouri · 1901
- Pacific Railroad v. HushesSupreme Court of Missouri · 1855
- State v. Holekamp Lumber CompanyMissouri Court of Appeals · 1960
- Germer v. Triple-State Natural Gas & Oil Co.West Virginia Supreme Court · 1906