President of the Grand Gulf Railroad & Banking Co. v. State
Mississippi Supreme Court
On appeal from the circuit court of Claiborne county; Hon. Stanhope Posey, judge. Elbridge G. Walker, Esq., the district attorney for the third judicial district, filed an information under the law of 1843, against the President, Directors and Company of the Grand Gulf Railroad and Banking Company. The writ was issued without any affidavit. Tire bank plead its charter.
Read the full summary
On appeal from the circuit court of Claiborne county; Hon. Stanhope Posey, judge. Elbridge G. Walker, Esq., the district attorney for the third judicial district, filed an information under the law of 1843, against the President, Directors and Company of the Grand Gulf Railroad and Banking Company. The writ was issued without any affidavit. Tire bank plead its charter. It is not deemed necessary to set out more of the plea than relates to the remedy retained by the legislature, in case of a violation of the corporate franchises. It is part of the amendatory act of 1840, and is as follows,…
1Opinion of the CourtJustice Clayton
This case is, in most respects, like the quo warranto cases heretofore determined in this court.
The remedy reserved to the legislature in this act of incorpo» ration, to repeal the charter to a limited extent, leaving power to the bank to wind up its affairs, must be regarded as cumulative. If not enforced by the legislature, the right to proceed by quo warranto is unimpaired.
Previous to the institution of the proceedings in this case, the bank had made a general assignment of its property and effects. Under the construction of the act of 1840, prohibiting assignments by the banks, heretofore…
2Cited by1 opinion
- Kennington-Saenger Theatres, Inc. v. State Ex Rel. Dist. Atty.Mississippi Supreme Court · 1944