Foster v. Belcher's Sugar Refining Co.
Supreme Court of Missouri
Error to St. Louis City Circuit Court. — Hon. L. B. Yalliant, Judge. (1) The directors of a corporation occupy a fiduciary position.. They are trustees and agents of the corporation and stockholders. In general they are governed by the same rules as are applied to trustees. Angelí and Ames on Corporations [11 Ed.], sec. 312,pp. 344, 345; Patrick v. Gas Light Co., 17 Mo. App. 462; Chouteau v. Allen, 70 Mo. 338; Bent v. Priest, 86 Mo. 475; Brewster v. Stratman, 4 Mo.
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Error to St. Louis City Circuit Court. — Hon. L. B. Yalliant, Judge. (1) The directors of a corporation occupy a fiduciary position.. They are trustees and agents of the corporation and stockholders. In general they are governed by the same rules as are applied to trustees. Angelí and Ames on Corporations [11 Ed.], sec. 312,pp. 344, 345; Patrick v. Gas Light Co., 17 Mo. App. 462; Chouteau v. Allen, 70 Mo. 338; Bent v. Priest, 86 Mo. 475; Brewster v. Stratman, 4 Mo. App. 41; Bobinson v. Smith, 3 Paige, 233; 1 Morawetz on Private Corporations [2 Ed.], sec. 237. p. 231; Mallory v.…
1Opinion of the CourtGIantt, P. J.
The plaintiffs in error, two of the •stockholders of the Belcher’s Sugar Eefining Company, bring this action against said corporation, its board of directors, and certain of its stockholders. The general scope of the bill is to restrain the sale of the new sugar refinery of said company, in St. Louis, under a deed of trust executed by said corporation to secure the payment of its bonds to the amount of $750,000, with interest coupons attached, default in the payment of which having been made, the trustees had advertised '■the property for sale August 18, 1885.' The bill also *244prayed the…
2Cases cited10 opinions
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Richardson's v. GreenSupreme Court of the United States · 1890
- Foster v. Mullanphy Planing Mill Co.Supreme Court of Missouri · 1887
- Kitchen v. St. Louis, Kansas City & Northern Railway Co.Supreme Court of Missouri · 1878
- Liebke v. KnappSupreme Court of Missouri · 1883
5 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Kleinlein v. FoskinSupreme Court of Missouri · 1929
- New Memphis Gaslight Co.Tennessee Supreme Court · 1900
- Perrigo v. City of St. LouisSupreme Court of Missouri · 1904
- McClean v. BradleyDistrict Court, N.D. Ohio · 1922
- Standard Cotton Seed Oil Co. v. Excelsior Refining Co.Supreme Court of Louisiana · 1902
6 more not listed; retrieve them via the Exa API.