Shickle v. Watts
Supreme Court of Missouri
Appeal from, St. Louis Q-ity Circuit Court. — How. A. M. Thayee, Judge. (1) The liability of a stockholder to a corporation for unpaid stock only exists where the stockholder has subscribed for a certain number of shares of its capital stock of a certain par value, or where a person has purchased shares which have been subscribed for and has had the same transferred to him.
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Appeal from, St. Louis Q-ity Circuit Court. — How. A. M. Thayee, Judge. (1) The liability of a stockholder to a corporation for unpaid stock only exists where the stockholder has subscribed for a certain number of shares of its capital stock of a certain par value, or where a person has purchased shares which have been subscribed for and has had the same transferred to him. In the above cases, tlie liability is to the corporation and is very different from that to the creditor created by the statute. The creditor cannot seek relief against the stockholder unless he first shows that he has…
1Opinion of the Court
_ Sherwood, J.
This is a suit in the nature of a ■creditor’s bill. The plaintiffs, Shickle, Harrison & Company, are judgment creditors of the East St. Louis Gas Light & Coke Company, a foreign corporation organized under the laws of Illinois. Watts is the sole appellant here. He and the plaintiffs are residents of the state of Missouri. Watts is the owner of twelve hundred shares of the capital stock of the foreign corporation mentioned. The basis of this proceeding is, that Watts is the owner of said stock; that the par value of the same has not been paid-in full, and the purpose of this…
2Cases cited12 opinions
- Upton v. TribilcockSupreme Court of the United States · 1875
- Webster v. UptonSupreme Court of the United States · 1876
- Blair v. Chicago & Alton RailroadSupreme Court of Missouri · 1886
- Boynton v. . HatchNew York Court of Appeals · 1872
- Osgood & Moss v. KingSupreme Court of Iowa · 1876
7 more not listed; retrieve them via the Exa API.
3Cited by44 opinions
- Van Cleve v. BerkeySupreme Court of Missouri · 1898
- Humphreys v. Atlantic Milling Co.Supreme Court of Missouri · 1889
- Carson v. SmithSupreme Court of Missouri · 1896
- Dorr Cattle Co. v. Des Moines National BankSupreme Court of Iowa · 1905
- Brockett v. Winkle Terra Cotta Co.Court of Appeals for the Eighth Circuit · 1936
39 more not listed; retrieve them via the Exa API.