Montgomery v. Allen
Court of Appeals of Kentucky
Case 53 — CONFLICT OF LIENS APPEAL PROM SCOTT CIRCUIR COURT. STATEMENT. Two corporations formed a scheme of consolidation involving an enlargement of their respective plants and the extinguishment of the outstanding stock by issuing bonds to the extent of $60,-000, out of which the stockholders of the old companies were to receive 25 per cent, of their holdings and the residue were to be used so far as they could be sold to pay for the improvements.
Read the full summary
Case 53 — CONFLICT OF LIENS APPEAL PROM SCOTT CIRCUIR COURT. STATEMENT. Two corporations formed a scheme of consolidation involving an enlargement of their respective plants and the extinguishment of the outstanding stock by issuing bonds to the extent of $60,-000, out of which the stockholders of the old companies were to receive 25 per cent, of their holdings and the residue were to be used so far as they could be sold to pay for the improvements. Contracts were made for the improvements. The consolidated company failed. This controversy arose over a contest between the contractors who had…
1Opinion of the Court
JUDGE HOBSON
delivered the opinion of the court.
The Georgetown Street Railroad Company was incorporated by an act of the General Assembly approved May 1, 1888 (see Session Acts 1887-88, volume 3, page 694). Under the charter the capital stock was not to exceed $10,000, but on the subscription of $2,000 the company might be organized. It was authorized to construct and operate a street railway in Georgetown, Ky. This it did.
The Georgetown Ice Company was incorporated under the General Statutes, March 19, 1890, for the purpose of ejecting- and operating in Georgetown a factory for the…
2Cases cited1 opinion
- Savings Bank v. McAllister's Adm'rCourt of Appeals of Kentucky · 1885
3Cited by4 opinions
- Guarantee Electric Co. v. Big Rivers Electric Corp.District Court, W.D. Kentucky · 1987
- Hoffman v. Continental Supply Co.Court of Appeals of Texas · 1938
- Walker v. Valley Plumbing, Inc.Court of Appeals of Kentucky · 1963
- Hoffman v. Continental Supply Co.Court of Appeals of Texas · 1938