Oliphint v. Bank of Commerce
Supreme Court of Arkansas
Appeal from Pulaski Circuit Court. Robert J. Lea, Judge. STATEMENT BY THE COURT. This is a proceeding by mandamus by the appellants to compel the appellee, a joint stock corporation, to transfer to them 200 shares of its stock, and issue them a certificate thereof.
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Appeal from Pulaski Circuit Court. Robert J. Lea, Judge. STATEMENT BY THE COURT. This is a proceeding by mandamus by the appellants to compel the appellee, a joint stock corporation, to transfer to them 200 shares of its stock, and issue them a certificate thereof. The complaint alleged in substance that the Bank of Commerce, who was defendant .in the cause, was a corporation duly organised under the laws of Arkansas ; that in the year 1893 Louis Reinman and Charles M. Simons were each the owner in his individual right of 100 shares of stock in said bank ; that one Pisher obtained a judgment…
1Opinion of the Court
Hughes, J.,
(after stating the facts.) It appears that Simons and Reinman owned the shares of the stock; that they owed the bank; that the bank had a lien, given by statute, upon their shares of stock, to secure payment of their indebtedness to the bank ; that the bank did not claim to own the stock, but claimed only a right to satisfaction of their lien out of it. The bank’s lien existed before the execution lien under which the appellants bought. The only right they acquired by the purchase of the stock was subsequent and subject to the right of the bank to satisfaction of its lien upon the…
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