White v. Stevens

The trustee in bankruptcy of the East Ohio Hotel Company, an Ohio corporation, filed a bill in equity against defendants in error to recover an alleged unpaid balance of subscription for 500 shares of stock of the bankrupt corporation. The superior court of Cook county, after a hearing before the chancellor, dismissed the bill for want of equity, and on appeal to the Appellate Court by the trustee that court affirmed the decree. The case comes to this court upon petition for certiorari.

The 500 shares of stock were subscribed for by David Olmsted and were subsequently transferred and issued to…