Stearns v. Sopris
Colorado Court of Appeals
Appeal from, the District Court of Pueblo County. This controversy grows out of an attempt by a creditor of the Trinidad Rolling Mills and Iron Company to collect his debt by proceeding against a subscriber to the stock of the company to compel him to pay his subscription. Early in 1888, divers people devised the scheme of raising a company to build and operate a rolling mill near the city of Trinidad, in Colorado.
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Appeal from, the District Court of Pueblo County. This controversy grows out of an attempt by a creditor of the Trinidad Rolling Mills and Iron Company to collect his debt by proceeding against a subscriber to the stock of the company to compel him to pay his subscription. Early in 1888, divers people devised the scheme of raising a company to build and operate a rolling mill near the city of Trinidad, in Colorado. The promoters did not subscribe for any very large proportion of the stock, but it was evidently their plan to obtain subscriptions from the citizens of that city sufficient to…
1Opinion of the CourtBissell, P. J.
The most troublesome of the many questions which this record presents will be left unsolved, for the decision can be safely rested on the application of a well established principle. To prevent any possible misconstruction, and to rebut any possible inference on this matter, the court desires expressly to state that it has not considered, and does not determine, the sufficiency and legality of the present proceedings to enforce the supposed liability of a stockholder upon his unpaid subscription. As is well understood by the profession, the remedy in these cases has been a matter of much…
2Cases cited7 opinions
- Livesey v. Omaha Hotel Co.Nebraska Supreme Court · 1876
- Peoria & Rock Island R. R. v. PrestonSupreme Court of Iowa · 1872
- Temple v. LemonIllinois Supreme Court · 1884
- Ridgefield & New York Railroad v. ReynoldsSupreme Court of Connecticut · 1878
- Skowhegan & Athens Railroad v. KinsmanSupreme Judicial Court of Maine · 1885
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3Cited by2 opinions
- Alderman v. ThimganSupreme Court of Colorado · 1924
- Holliday v. PersonsCourt of Appeals of Georgia · 1923