Allen v. Walsh
Supreme Court of Minnesota
Plaintiff brought this action in the district court for Eamsey county, in October, 1877, alleging in his complaint that ever since January 1,1876, the Marine Bank of St. Paul has been and is a corporation duly organized and existing under and pursuant to the laws of the state relative to banking corporations, and carried on a general banking business until November 13, 1876, when, being insolvent, it made a general assignment of all its property, for the benefit of its…
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Plaintiff brought this action in the district court for Eamsey county, in October, 1877, alleging in his complaint that ever since January 1,1876, the Marine Bank of St. Paul has been and is a corporation duly organized and existing under and pursuant to the laws of the state relative to banking corporations, and carried on a general banking business until November 13, 1876, when, being insolvent, it made a general assignment of all its property, for the benefit of its creditors; that the assignee accepted the trust, and wound up the affairs of the bank, the dividend to the creditors being…
1Opinion of the CourtCornell, J.
The demurrer to the complaint admits that ever since the first day of January, 1876, the Marine Bank *550of St. Paul has been a banking corporation duly created and organized under the laws of the state relating to banking corporations, to wit, Gen. St. c. 33, concerning banks and banking, and that the defendant during all that time has been and still is a stockholder therein. The action is sought to be maintained upon section 21 of that chapter, which, among other things, provides “that the stockholders in each bank” formed pursuant to its provisions “shall be individually liable in an amount…
2Cases cited1 opinion
- City of Faribault v. MisenerSupreme Court of Minnesota · 1874
3Cited by35 opinions
- Willis v. MabonSupreme Court of Minnesota · 1892
- Marshall v. . ShermanNew York Court of Appeals · 1895
- Harper v. CarrollSupreme Court of Minnesota · 1896
- Foster v. RowMichigan Supreme Court · 1899
- Eau Claire National Bank v. BensonWisconsin Supreme Court · 1900
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