Pittsburgh & Connelsville Railroad v. Clarke & Thaw
Supreme Court of Pennsylvania
Error to the District Court of Allegheny county. This was an action of assumpsit by The Pittsburgh and Connelsville Railroad Company against Clarke & Thaw, to recover the balance due upon a subscription of one hundred shares to the eapital stock of the company.
Read the full summary
Error to the District Court of Allegheny county. This was an action of assumpsit by The Pittsburgh and Connelsville Railroad Company against Clarke & Thaw, to recover the balance due upon a subscription of one hundred shares to the eapital stock of the company. On the 24th March, 1849, an Act of Assembly was approved, authorizing commissioners to open books, receive subscriptions, and organize a company, subject to all the provisions of the general railroad law, approved on the 19th February of the same year, the capital stock to consist of sixteen thousand shares of §50 each. Under this act…
1Opinion of the Court
The opinion of the court was delivered by
Lewis, C. J.
This is an action to recover the instalments due on a subscription to the stock of the Pittsburgh and Steubenville Railroad Company. The plea of payment admits the original liability of the defendants, but the defence is that eighty shares of the number originally subscribed, were transferred to Edwin M. Stanton, on the 25th May, 1852., It is not necessary, in this case, to decide the general question whether a transfer of stock will relieve an original subscriber from his express engagement to pay the instalments, when required by the…
2Cases cited4 opinions
- Head & Amory v. Providence Ins. Co.Supreme Court of the United States · 1804
- Marlborough Manufacturing Co. v. SmithSupreme Court of Connecticut · 1818
- Northrop v. Newtown & Bridgeport Turnpike Co.Supreme Court of Connecticut · 1821
- Oxford Turnpike Co. v. BunnelSupreme Court of Connecticut · 1827
3Cited by2 opinions
- National Bank v. Rochester Tumbler Co.Supreme Court of Pennsylvania · 1896
- Commonwealth v. Lehigh Ave. Ry. Co.Supreme Court of Pennsylvania · 1889