Reed v. Richmond Street Railroad

This was an action by the appellee against the appellant, to recover the amount of a subscription to the capital stock of the company. The subscription was made to an instrument purporting to be articles of association, and containing also an agreement to pay for the shares subscribed.

By a demurrer to the complaint, and also to the answer, the question is presented as to the proper construction of the following section of the act relating to the incorporation of street railway companies:

“ That any number of persons, not less than five, being subscribers to the stock of any contemplated street…