Lane v. Morris
Supreme Court of Georgia
Debt, in Muscogee Superior Court. Tried before Judge Alexander, May Term, 1850. This was an action by Richard A. Lane, as a holder of bank bills .of the Planters & Mechanics’ Bank of Columbus, against Thomas Morris, a stockholder in said Bank, to recover on liis^ro rata liability for the payment of the bills, under the following section of the charter. “Sec. xi.
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Debt, in Muscogee Superior Court. Tried before Judge Alexander, May Term, 1850. This was an action by Richard A. Lane, as a holder of bank bills .of the Planters & Mechanics’ Bank of Columbus, against Thomas Morris, a stockholder in said Bank, to recover on liis^ro rata liability for the payment of the bills, under the following section of the charter. “Sec. xi. The persons and property of the stockholders, shall be pledged and held bound in proportion to the amount of shares, and the value thereof, that each individual or company may hold in said bank, for the ultimate redemption of the…
1Opinion of the Court
By the Court.
Lumiucin, J.
delivering the opinion.
This was an action of debt brought by Richard A. Lane, as the holder and owner of the bills of the Planters & Mechanics’ Bank of Columbus, to the amount of #925, against Thomas Morris, as a stockholder in said bank, of one hundred and sixty-nine shares of the capital stock thereof, and seeking to make the defendant liable to the plaintiff (the bank being insolvent,) for such a proportion of his said debt, as the number of shares, so held by the said defendant, bears to the whole capital stock of said bank, which is a million of dollars.
[1.] The…
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