Germania Iron Mining Co. v. King
Wisconsin Supreme Court
Appeal from an order of the circuit court for Iron county: John K. Parish, Circuit Judge. , Action to recover a fifth instalment of ten per cent, of the subscription for sixty-five shares of the capital stock of the plaintiff company, amounting to $650. The complaint shows that four previous calls for instalments on the subscription had been made and paid, and alleges that October 12,1892, a further instalment of $10 per share on the stock of the company was duly called in…
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Appeal from an order of the circuit court for Iron county: John K. Parish, Circuit Judge. , Action to recover a fifth instalment of ten per cent, of the subscription for sixty-five shares of the capital stock of the plaintiff company, amounting to $650. The complaint shows that four previous calls for instalments on the subscription had been made and paid, and alleges that October 12,1892, a further instalment of $10 per share on the stock of the company was duly called in by the board of directors, the resolutions calling in the same being attached to and made a part of the complaint, and…
1Opinion of the CourtPinney, J.
The defendant’s contention is that the provisions of R. S. sec. 1754, by which, “ unless otherwise expressly provided by law, or the articles of organization, the directors of any corporation may call in the subscriptions to’ *441the capital stock by instalments, in such proportion and at such times as they shall think proper, by giving such notice thereof as the by-laws shall prescribe,” etc., are mandatory, and that such notice could not be given until a by-law-had been adopted prescribing the substance and manner of giving such notice. The subscription of the defendant, it would seem, was not,…
2Cases cited3 opinions
- People ex rel. Muir v. ThroopNew York Supreme Court · 1834
- Great Western Telegraph Co. v. BurnhamWisconsin Supreme Court · 1891
- Pike v. Bangor & Calais Shore Line RailroadSupreme Judicial Court of Maine · 1878
3Cited by5 opinions
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- La Crosse Brown Harvester Co. v. GoddardWisconsin Supreme Court · 1902
- Columbus Institute of Milwaukee v. ConohanWisconsin Supreme Court · 1916