Appeal of Powell
Superior Court of Pennsylvania
Appeal, No. 23, April T., 1897, by F. H. Powell, Administrator of James H. Davis, deceased, from the definitive decree of C. P. Crawford Co., Feb. T., 1894, No. 156, distributing money in the hands of J. W. Smith, assignee for benefit of creditors of the Meadville Savings Bank. Exceptions to report of Wesley B. Best and Frank J. Thomas, auditors, to make distribution of the balance in the hands of the assignee as shown by partial account.
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Appeal, No. 23, April T., 1897, by F. H. Powell, Administrator of James H. Davis, deceased, from the definitive decree of C. P. Crawford Co., Feb. T., 1894, No. 156, distributing money in the hands of J. W. Smith, assignee for benefit of creditors of the Meadville Savings Bank. Exceptions to report of Wesley B. Best and Frank J. Thomas, auditors, to make distribution of the balance in the hands of the assignee as shown by partial account. The auditors’ report was, inter alia, as follows: FINDING- OF FACTS. 1. The Meadville Savings Bank was a copartnership organized in March, A. D. 1867, and…
1Opinion of the Court
Opinion by
Rice, P. J.,
In the year 1867, a number of persons organized a partnership association, under the name of the Meadville Savings Bank, for the purpose of dealing in exchange, bills, notes and other securities, and carrying on a general banking business. Somewhat later, articles of association were prepared and signed, wherein it was provided that the capital stock of $50,000 (after-wards reduced to $30,000) should be divided into shares of $100 each; that such shares should be always deemed hypothecated for any indebtedness or liability of the holder to the partnership;- that the…
2Cases cited7 opinions
- Adams v. KuehnSupreme Court of Pennsylvania · 1888
- Delp v. Bartholomay Brewing Co.Supreme Court of Pennsylvania · 1888
- Kountz v. HolthouseSupreme Court of Pennsylvania · 1877
- Baker's AppealSupreme Court of Pennsylvania · 1853
- Shamburg v. AbbottSupreme Court of Pennsylvania · 1886
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3Cited by1 opinion
- Gwinn v. LeeSuperior Court of Pennsylvania · 1898