Garrett v. Dillsburg & Mechanicsburg Railroad
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Cumberland county : Of May Term 1874, No. 62. (Re-argument.) This was an action of assumpsit, brought to the April Term 1872, of the court below, by the Dillsburg and Mechanicsburg Railroad Company against Andrew Garrett. The action was to recover the amount of subscription by the defendant to the capital stock of the plaintiffs.
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Error to the Court of Common Pleas of Cumberland county : Of May Term 1874, No. 62. (Re-argument.) This was an action of assumpsit, brought to the April Term 1872, of the court below, by the Dillsburg and Mechanicsburg Railroad Company against Andrew Garrett. The action was to recover the amount of subscription by the defendant to the capital stock of the plaintiffs. The case of Bucher against the same company, 26 P. F. Smith 306, was a suit on a subscription to the same stock, under somewhat different circumstances. The plaintiffs were incorporated under the Railroad Law of April 4th 1868,…
1Opinion of the CourtChief Justice Agnew
It is clear that the charter of the railroad company cannot be attacked collaterally for bad faith' in obtaining it; Cochran v. Arnold, 8 P. F. Smith 399. The only question, therefore, is whether the subscription of the defendant is illegal and void, because of the non-payment of any part in cash at the time of *468making it. The law does not expressly require payment of ten per cent, or any other sum when making an original subscription before application for the charter. Whether non-payment of ten per cent, by each subscriber, before application for the charter, is not an act of bad faith to…
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