Swancoat v. Remsen
U.S. Circuit Court for the District of Southern New York
This was an. action at law by Richard J. Swancoat against Charles Remsen, William Manice, Daniel Kimball, and Thomas W. Moore, The plaintiff’s complaint alleged that the Austin Consolidated Coal Company was a stock corporation, organized under the laws of New York for business purposes other than moneyed and railroad; that on July 1, 1885, said Austin Consolidated Coal Company executed and delivered to the plaintiff its 17 coupon bonds for $500 each, principal payable July…
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This was an. action at law by Richard J. Swancoat against Charles Remsen, William Manice, Daniel Kimball, and Thomas W. Moore, The plaintiff’s complaint alleged that the Austin Consolidated Coal Company was a stock corporation, organized under the laws of New York for business purposes other than moneyed and railroad; that on July 1, 1885, said Austin Consolidated Coal Company executed and delivered to the plaintiff its 17 coupon bonds for $500 each, principal payable July 1, 1895, with semiannual interest at 6 per cent,, such bonds being part of a series of $100,000, secured by mortgage of…
1Opinion of the Court
WALLACE, Circuit Judge.
The first question which the demurrer to the complaint presents is whether, iff an action founded upon section 30 of the stock corporation law of this state (Laws 1890, e. *594564, as amended by chapter 688, Laws 1892), it is necessary to allege that a judgment has been recovered and execution returned unsatisfied against the corporation in favor of the plaintiff'. That section imposes upon the directors of a corporation which fails to mate the annual report prescribed by it an individual liability for all the debts of the corporation then existing. It is urged for the…
2Cases cited10 opinions
- Hornor v. HenningSupreme Court of the United States · 1876
- Miller v. . WhiteNew York Court of Appeals · 1872
- National Bank v. . DillinghamNew York Court of Appeals · 1895
- Jones v. . BarlowNew York Court of Appeals · 1875
- Stone v. ChisolmSupreme Court of the United States · 1885
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3Cited by1 opinion
- Milsom Rendering & Fertilizer Co. v. BakerAppellate Division of the Supreme Court of the State of New York · 1897