Crandall v. Lincoln
Supreme Court of Connecticut
Bill iet equity brought by the plaintiffs as receivers of the Willimantic Trust Company, a corporation, against a large number of former stockholders of the company who had sold their shares of stock to the company and been paid for the same from its capital. The suit was brought to the Superior Court in Windham county.
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Bill iet equity brought by the plaintiffs as receivers of the Willimantic Trust Company, a corporation, against a large number of former stockholders of the company who had sold their shares of stock to the company and been paid for the same from its capital. The suit was brought to the Superior Court in Windham county. The several defendants filed separate answers, and upon the hearing the following facts were found by the court: The Willimantic Trust Company, of Willimantie, in this state, was incorporated by the General Assembly at its May session, 1871. The following are the portions of…
1Opinion of the CourtCarpenter, J.
The Willimantic Trust Company, a corporation by special charter, being insolvent, went into the hands of receivers in April, 1878. The assets of the company are not sufficient to pay its liabilities, the deficit being about $85,000. Prior to its failure the affairs of the company were managed by a board of fifteen trustees. The by-laws required the trustees to appoint from their number an executive committee of five. The duties of the executive committee, so far as material, are found in the fifth section of the by-laws, as follows:—“ The executive committee shall superintend and direct with…
2Cases cited4 opinions
- Wood v. DummerU.S. Circuit Court for the District of Maine · 1824
- Adler v. Milwaukee Patent Brick Manufacturing Co.Wisconsin Supreme Court · 1860
- Catlin v. Eagle Bank of New-HavenSupreme Court of Connecticut · 1826
- Nathan v. WhitlockNew York Court of Chancery · 1841
3Cited by41 opinions
- In re Fechheimer Fisher Co.Court of Appeals for the Second Circuit · 1914
- McDonald v. Hartford Trust Co.Supreme Court of Connecticut · 1926
- Fitzpatrick v. McGregorSupreme Court of Georgia · 1909
- Canfield v. GregorySupreme Court of Connecticut · 1895
- Porter v. Plymouth Gold Mining Co.Montana Supreme Court · 1904
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