Lockwood Others, Trustees v. Mechanics Natl. Bank, C.
Supreme Court of Rhode Island
These were five actions of tbe case brought to recover damages of tbe defendants for their refusing to permit transfers to be made on their books, to the plaintiffs, of certain shares of their capital stock standing in the name of Resolved Waterman, and by him assigned to the plaintiffs. Jury trials having been waived, the five actions were tried together, and were argued to the court upon agreed statements of facts.
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These were five actions of tbe case brought to recover damages of tbe defendants for their refusing to permit transfers to be made on their books, to the plaintiffs, of certain shares of their capital stock standing in the name of Resolved Waterman, and by him assigned to the plaintiffs. Jury trials having been waived, the five actions were tried together, and were argued to the court upon agreed statements of facts. From these statements, it appeared that the defendant corporations were national banking associations, organized under the aet of Congress, entitled “ An act to provide a…
1Opinion of the Court
The by-laws of three of the banks contain provisions that the stock shall be transferable only on the books of the bank, and that no stockholder shall be allowed to transfer, while indebted, without consent of the directors. The by-laws of one other contain these provisions, and also a provision that the stock shall be held pledged and liable, and may be sold, etc. There is some diversity of language, but not enough to affect the present decision.
The by-laws of the Roger Williams Bank contains provisions that the stock shall be held pledged, liable, etc., and that an indebted shareholder…
2Cases cited6 opinions
- Edward's Lessee v. DarbySupreme Court of the United States · 1827
- Robert Y. Brent, Surviving of Robert Brent, Use of the United States v. The President and Directors of the Bank of WashingtonSupreme Court of the United States · 1836
- Union Bank of Georgetown v. LairdSupreme Court of the United States · 1817
- Vansands v. Middlesex County BankSupreme Court of Connecticut · 1857
- Helck v. . ReinheimerNew York Court of Appeals · 1887
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Blish v. Thompson Automatic Arms Corp.Supreme Court of Delaware · 1948
- Talbot v. TalbotSupreme Court of Rhode Island · 1911
- Driscoll v. . West Bradley C.M. Co.New York Court of Appeals · 1874