Firehammer v. Interstate Securities Co.

Appeal by the receiver in a sequestration proceeding froin an order denying Ms petition for an assessment of the stockholders upon a super-added liability claimed to have been imposed by charter.

The corporation is the Interstate Securities Company, organized under the laws of South Dakota to do business, it is said, exclusively in Minnesota. For the purpose of this decision, we assume that to be the fact and that by reason of peculiar charter provisions a super-added liability exists as against some of the stockholders, notwithstanding the statute of South Dakota. (Rev. Code 1919, § 8761), to…