Paton v. Clark
Supreme Court of Pennsylvania
Appeal, No. 161, July T., 1892, by plaintiff, Morton S. Patón, from decree of C. P. No. 8, Phila. Co., Dec. T., 1891, No. 778, sustaining demurrer to bill in equity in favor of defendants, E. W. Clark & Co. Bill in equity for an account, etc.
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Appeal, No. 161, July T., 1892, by plaintiff, Morton S. Patón, from decree of C. P. No. 8, Phila. Co., Dec. T., 1891, No. 778, sustaining demurrer to bill in equity in favor of defendants, E. W. Clark & Co. Bill in equity for an account, etc. The bill averred in substance : (1) That, on or about Jan. 20, 1888, plaintiff, with others, subscribed $5,000 towards a loan of $93,000 to be made to the Buctouehe & Moncton Railway Co. (2) That the contract referred to in the subscription agreement, between one de Bertram, the president of the said corporation, and E. W. Clark & Co., was entered into…
1Opinion of the Court
Opinion by
Mr. Justice McCollum,
According to the averments of the bill filed in this case E. W. Clark & Co. were members and agents of a syndicate which in 1888 loaned to the Buctouche and Moncton Railway Company in Canada the sum of ninety-three thousand dollars for one year. The securities for the loan were deposited with Clark & Co., and consisted of the note of Louis Gr. de Bertram, payable to his own order and properly indorsed, and certain bonds of the railway company as collateral to it.
Morton S. Patón, the appellant, was a member, of the syndicate having an interest of five thousand…
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