Burt v. Real Estate Exchange
Supreme Court of Pennsylvania
Appeal, No. 393, Jan. T., 1894, by-William C. Stoever, from decree of C. P. No. 3, Pbila. Co., Dee. T., 1890, No. 353, on bill in equity. Bill in equity to enforce a stock subscription. The case was referred to George de B. Myers, Esq., as master, from whose report the facts appear as stated in the opinion of the Supreme Court.
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Appeal, No. 393, Jan. T., 1894, by-William C. Stoever, from decree of C. P. No. 3, Pbila. Co., Dee. T., 1890, No. 353, on bill in equity. Bill in equity to enforce a stock subscription. The case was referred to George de B. Myers, Esq., as master, from whose report the facts appear as stated in the opinion of the Supreme Court. The master recommended a decree against William C. Stoever for $121.59, to which exceptions were filed by the appellant and , other defendants which were overruled by Finletter, P. J., and a decree entered against Stoever for $150. Error assigned was above decree.
1Opinion of the Court
Opinion by
Mr. Justice McCollum,
The Real Estate Exchange of Philadelphia is an insolvent corporation, now and since October 26, 1891, in the hands of a receiver. It was incorporated November 11, 1886, and its authorized capital was $75,000, divided into shares of $50.00 each. The appellant subscribed for ten shares of the stock, paid ten per cent thereon, and received a certificate for the same. Ninety per cent of his subscription for it is still unpaid. In May, 1888. he caused the stock to be sold at auction, and it was bought by W. F. Deakyne for $2.00. As the corporation refused to transfer…
2Cases cited1 opinion
- Appeal of AultmanSupreme Court of Pennsylvania · 1882
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