Union City Lumber Co. v. Traverse City, Leelanau & Manistique Railroad
Michigan Supreme Court
Appeal from Kent; McDonald, J. Bill by the Union City Lumber Company against the Traverse City, Leelanau & Manistique Railroad Company and others for the enforcement of liability of certain stockholders. From a decree in favor of part of defendants, complainant appeals.
1Opinion of the CourtOstrander, J.
In addition to the facts stated in the opinion of Mr. Justice Bird, I think the following should also be stated: Metheany and Kaufman, the promoters of the Traverse City, Leelanau & Manistique Railroad Company, in their scheme for financing the proposed road, arranged with the defendant Union Trust Company for the sale of its bonds. As appears by the correspondence, the letter of the defendant Union Trust Company of November 19, 1901, was addressed to these gentlemen, is in reply to theirs of November 15th, refers to the underwriting of $300,000 of 5 percent, gold bonds of the proposed…
2Cases cited15 opinions
- Upton v. TribilcockSupreme Court of the United States · 1875
- Handley v. StutzSupreme Court of the United States · 1891
- Mitchell v. BeckmanCalifornia Supreme Court · 1883
- Gillett v. Chicago Title & Trust Co.Illinois Supreme Court · 1907
- Adler v. Milwaukee Patent Brick Manufacturing Co.Wisconsin Supreme Court · 1860
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3Cited by2 opinions
- Rare Earth, Inc. v. HoorelbekeDistrict Court, S.D. New York · 1975
- Campbell v. RavenMichigan Supreme Court · 1913