Lowden Savings Bank v. Neiting
Supreme Court of Iowa
Appeal from Cedar District Court. — Hon. M. P. Smith, Judge. This is an action against defendants as stockholders in the Cedar County Lumber & Manufacturing Company, to recover amounts alleged to be due to the plaintiff from said company on a promissory note and on account of an overdraft. The defendants denied their liability as stockholders, and also denied the existence of the indebtedness from the company to the plaintiff.
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Appeal from Cedar District Court. — Hon. M. P. Smith, Judge. This is an action against defendants as stockholders in the Cedar County Lumber & Manufacturing Company, to recover amounts alleged to be due to the plaintiff from said company on a promissory note and on account of an overdraft. The defendants denied their liability as stockholders, and also denied the existence of the indebtedness from the company to the plaintiff. At the conclusion of the evidence on both sides, the court, on motion of the defendants, directed a verdict in their favor, and from judgment on such verdict the…
1Opinion of the CourtMcClain, J.
In June, 1902, II. J. Brownell and J. II. Brownell organized in the town of Lowden a joint-stock company, known as the Cedar County Lumber & Manufacturing Company, to engage in the business of manufacturing sash, doors .and blinds. The capital 'stock of the company consisted of $25,000, a considerable portion of which was, subscribed by citizens of the town. The certificate of the Secretary of State authorizing the corporation to do business was issued on June 16, 1902; but, as contended by plaintiff, there was no proper publication of notice, as required in Code, section- 1613, and it is…
2Cases cited1 opinion
- Clinton Novelty Iron Works v. NeitingSupreme Court of Iowa · 1907