St. Paul Trust Co. v. Wampach Manufacturing Co.
Supreme Court of Minnesota
Appeal by defendant, the Wampach Manufacturing Company, from a judgment of the District Court of Scott county, Gadwell, J., entered June 27, 1891. The defendant was a corporation organized under Laws 1873, ch. 11, and was engaged in the manufacture of wagons and other vehicles at Shakopee, Minn. On June 23, 1887,'it insured its property to the extent of f 2,500 for five years, against loss by fire, in the North Star Mutual Insurance Company.
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Appeal by defendant, the Wampach Manufacturing Company, from a judgment of the District Court of Scott county, Gadwell, J., entered June 27, 1891. The defendant was a corporation organized under Laws 1873, ch. 11, and was engaged in the manufacture of wagons and other vehicles at Shakopee, Minn. On June 23, 1887,'it insured its property to the extent of f 2,500 for five years, against loss by fire, in the North Star Mutual Insurance Company. In consideration of the insurance, it gave the Insurance Company its note for $468.75, payable in installments, and at such times, as the directors of…
1Opinion of the CourtGilfillan, C. J.
The only question in this case is, can a manufacturing corporation- organized under the laws of this state take insurance on its property in a corporation organized under Laws 1881, ch. 91, being “An act authorizing the formation of millers’ and manufacturers’ mutual insurance companies, ” so that its premium note given on such insurance may be enforced?
The only provision of statute claimed to be a prohibition of such insurance is the clause in 1878 G. S. eh. 34, § 122, that “ it shall not be lawful for said corporation to direct its operations or appropriate its funds to any other purpose ”…
2Cases cited1 opinion
- Miller v. LathropSupreme Court of Minnesota · 1892
3Cited by1 opinion
- Miller v. LathropSupreme Court of Minnesota · 1892