Pennsylvania Railroad Company's Appeal
Supreme Court of Pennsylvania
Appeal from the decree of the Court of Common Pleas, No. 1, of Philadelphia county: Of January Term 1876, No. 202. In equity. Bill in equity filed by Mary Fearon, the executrix and legatee under the will of Samuel P. Fearon, deceased, against John V. Creeley, B. Schultz, and the Pennsylvania Railroad Company. Creeley was duly served, but made no answer to the bill, nor was he represented by counsel.
Read the full summary
Appeal from the decree of the Court of Common Pleas, No. 1, of Philadelphia county: Of January Term 1876, No. 202. In equity. Bill in equity filed by Mary Fearon, the executrix and legatee under the will of Samuel P. Fearon, deceased, against John V. Creeley, B. Schultz, and the Pennsylvania Railroad Company. Creeley was duly served, but made no answer to the bill, nor was he represented by counsel. The case was, however, proceeded with as if he had been present or represented. Schultz and the Railroad Company filed separate answers. It appeared that Samuel P. Fearon died in August 1865, at…
1Opinion of the CourtJustice Sharswood
There is no doubt that a corporation is a trustee of its stockholders, and is bound to proper vigilance and care that they may not be injured by unauthorized transfers of their stock: Bayard v. Bank, 2 P. F. Smith 232 ; and there is no doubt, we think also, that, had the certificates of stock, which are the subject of the controversy, been lost or stolen from the possession of the appellees, the appellants would have been responsible. Though the signature of Samuel P. Fearon to the powers to transfer was genuine, yet they had actually been revoked by his death, and, in fact, before; and the…
2Cited by33 opinions
- Kohn v. Sacramento Electric, Gas Ry. Co.California Supreme Court · 1914
- Geyser-Marion Gold-Min. Co. v. StarkCourt of Appeals for the Eighth Circuit · 1901
- Leff v. N. Kaufman's, Inc.Supreme Court of Pennsylvania · 1941
- Shattuck v. American Cement Co.Supreme Court of Pennsylvania · 1903
- King v. Mellon National BankSupreme Court of Pennsylvania · 1909
28 more not listed; retrieve them via the Exa API.