Palmer v. Ridge Mining Co.
Supreme Court of Pennsylvania
Error to the District Court of Allegheny county. These were two actions of aslumpsit by the Ridge Mining Company, of Michigan, against Walterman Palmer, to recover the amount of certain unpaid instalments on stock in the said company, owned by the defendant.
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Error to the District Court of Allegheny county. These were two actions of aslumpsit by the Ridge Mining Company, of Michigan, against Walterman Palmer, to recover the amount of certain unpaid instalments on stock in the said company, owned by the defendant. The defendant became the owner, by transfer from other parties, in all, of 763 shares of the stock of the Ridge Mining Company, subject to the unpaid assessments thereon; and subsequently to his thus becoming the owner of these shares, four assessments were called for by the company, of which he was duly notified. The third section of the…
1Opinion of the Court
The opinion of the court was delivered by
Lowkie, C. J.
The ease of Long v. Penn Insurance Company, 6 Barr 421, has no bearing on this question. The question there was, whether the defendant was really a stockholder, having pur*290chased stock as trustee; and not one about the liability of stockholders to an action for unpaid calls ; for the act of incorporation in that case (P. L. 1841, page 416), expressly made “ any subscriber or stockholder” so liable.
The case which rules these, is Canal Company v. Sansom, 1 Binn. 70, and that is direct, whether the purchase was made expressly subject to unpaid…
2Cases cited1 opinion
- President of the Delaware v. SansomSupreme Court of Pennsylvania · 1803
3Cited by1 opinion
- Allegheny Valley Camp Meeting Ass'n v. KountzSuperior Court of Pennsylvania · 1905