Price v. Holcomb
Supreme Court of Iowa
Appeal from Des Moines District Court. — Hon. James D. Smythe, Judge. The plaintiff, owner of one seventh, of the stock of the Iowa Rolling Mill Company, a corporation under the laws of Iowa, organized for the purpose of rolling and making iron at its works in Burlington, Iowa, prosécutes this action in equity to set aside a sale and conveyance of the works of said corporation to the defendant J. P. Holcomb in pursuance of certain resolutions adopted by the stockholders.
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Appeal from Des Moines District Court. — Hon. James D. Smythe, Judge. The plaintiff, owner of one seventh, of the stock of the Iowa Rolling Mill Company, a corporation under the laws of Iowa, organized for the purpose of rolling and making iron at its works in Burlington, Iowa, prosécutes this action in equity to set aside a sale and conveyance of the works of said corporation to the defendant J. P. Holcomb in pursuance of certain resolutions adopted by the stockholders. A decree was entered dismissing the plaintiff’s petition, from which decree he appeals.—
1Opinion of the CourtGiven, J.
Prior to 1887 the plaintiff and others, residents of Burlington, Iowa, organized a corporation known as the Burlington Rolling Mill Company, with a paid up capital of thirty-six thousand dollars, for the purpose of erecting and operating a rolling mill at Burlington for the manufacture of iron. The works were constructed and operated for a time at a loss. These parties being inexperienced in the business, and the company without sufficient capital, the defendant Richard Brown, of Youngstown, Ohio, a gentleman of experience in the iron business, and possessed of means, was solicited to take-…
2Cases cited2 opinions
- Buell v. Buckingham & Co.Supreme Court of Iowa · 1864
- Sawyer v. Dubuque Printing Co.Supreme Court of Iowa · 1889
3Cited by22 opinions
- Rath v. Rath Packing CompanySupreme Court of Iowa · 1965
- Des Moines Bank & Trust Co. v. George M. Bechtel & Co.Supreme Court of Iowa · 1952
- Smith v. StoneWyoming Supreme Court · 1912
- Noble v. Gadsden Land & Improvement Co.Supreme Court of Alabama · 1901
- Beidenkopf v. Des Moines Life InsuranceSupreme Court of Iowa · 1913
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