Hill v. Atoka Coal & Mining Co.
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court.—Hon. James E. Withrow, Judge. (1) The objection to the introduction of testimony under the petition should have been sustained, because there is no averment therein, charging that a dividend had been declared by the board of directors of the defendant company. Until that is done, the relation of debtor and creditor does not subsist between the corporation and its stockholders.
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Appeal from St. Louis City Circuit Court.—Hon. James E. Withrow, Judge. (1) The objection to the introduction of testimony under the petition should have been sustained, because there is no averment therein, charging that a dividend had been declared by the board of directors of the defendant company. Until that is done, the relation of debtor and creditor does not subsist between the corporation and its stockholders. Cook on Stock and Stockholders, sec. 544. (2) The plaintiff can not recover, because the resolution declaring the dividend excepted from the benefits of such declaration,…
1Opinion of the CourtMaceaklane, J.
This was a suit to recover $3,000, the same being dividends on one hundred shares of stock in the defendant corporation, which stock had been issued to E. J. Crandall and by him assigned to the plaintiff, James A. Hill. The defendant filed a long answer setting up various matters as an equitable defense, with a prayer that the one hundred shares be adjudged to be the property of the defendant, and for other and further relief. As to this answer, it is sufficient to say that it is broad and comprehensive enough to give the defendant the benefit of whatever rights may flow from the following…
2Cases cited4 opinions
- Scovill v. ThayerSupreme Court of the United States · 1882
- Shickle v. WattsSupreme Court of Missouri · 1887
- Osgood & Moss v. KingSupreme Court of Iowa · 1876
- Stuart v. Valley R. R.Supreme Court of Virginia · 1879
3Cited by9 opinions
- Wood v. Kansas City Home Telephone Co.Supreme Court of Missouri · 1909
- Chrisman-Sawyer Banking Co. ex rel. Simpson v. Independence Wool Manufacturing Co.Supreme Court of Missouri · 1902
- McClure v. Paducah Iron Co.Missouri Court of Appeals · 1901
- Expansion Realty Co. v. GerenMissouri Court of Appeals · 1914
- State ex rel. O'Briant v. Keokuk & Western RailroadSupreme Court of Missouri · 1899
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