Slee v. Bloom
New York Supreme Court
ON appeal from the Court of Chancery. The bill,, filed the 24th of April, 1819, stated, that the appellant, being possessed of a piece of land on Wappinger’s Creek, in Poughkeepsie, on which he had erected a cotton manufactory, with 912. spindles, and finding that the factory demanded greater funds than he could conveniently command, proposed to the respondent, George Bloom,, and others, to unite with him in a corporation, to be called “ The Dutchess Cotton Manufactorythe…
Read the full summary
ON appeal from the Court of Chancery. The bill,, filed the 24th of April, 1819, stated, that the appellant, being possessed of a piece of land on Wappinger’s Creek, in Poughkeepsie, on which he had erected a cotton manufactory, with 912. spindles, and finding that the factory demanded greater funds than he could conveniently command, proposed to the respondent, George Bloom,, and others, to unite with him in a corporation, to be called “ The Dutchess Cotton Manufactorythe stocks of which were to be divided into 600 shares of 100 dollars each. That this proposal being acceded to, the…
1Opinion of the Court
Spencer, Ch. J.
(after stating the facts in the case.) With the most profound and undissembled respect for the Chancellor, I am constrained to differ from the opinion held by him, that this corporation is not dissolved.
The object and intention of the legislature in authorizing the association of individuals for manufacturing purposes, was, in effect, to facilitate the formation of partnerships, without the risks ordinarily attending them, and to encourage internal manufactures. There is nothing of an exclusive nature in the statute ; but the benefits from associating and becoming incorporated,…
2Cited by88 opinions
- Sanger v. UptonSupreme Court of the United States · 1875
- United States Tr. Co. of New York v. . U.S. Fire Ins. Co.New York Court of Appeals · 1858
- Buell v. Buckingham & Co.Supreme Court of Iowa · 1864
- Lyons-Thomas Hardware Co. v. Perry Stove Manufacturing Co.Texas Supreme Court · 1893
- Toledo, St. L. & K. C. R. v. Continental Trust Co.Court of Appeals for the Sixth Circuit · 1899
83 more not listed; retrieve them via the Exa API.