Puget Sound National Bank v. Mather
Supreme Court of Minnesota
Action by Puget Sound National Bank of Everett, Washington, against John Mather and others as defendants, and Minneapolis Trust Company as garnishee. From an order of the district court for Bamsey county, Egan, J., denying a motion for the discharge of the garnishee, the garnishee appealed. The facts are stated in the opinion.
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Action by Puget Sound National Bank of Everett, Washington, against John Mather and others as defendants, and Minneapolis Trust Company as garnishee. From an order of the district court for Bamsey county, Egan, J., denying a motion for the discharge of the garnishee, the garnishee appealed. The facts are stated in the opinion. At common law, stock in corporations was not subject to levy by execution or attachment; and liens upon it by process of the courts' can be acquired only in accordance with statute. Van Norman v. Jackson Circuit Judge, 45 Mich. 204, 7 N. W. 796; Cook, Stock, § 480;…
1Opinion of the CourtCollins, J.
At the time of the service of the garnishee summons in this action, the party garnished had in its possession, as collateral to the payment of a debt incurred by defendants, a large number of certificates of stock in a foreign corporation organized and doing business in the state of Washington. The garnishee (appellant) contends that these certificates are not subject to garnishment under the statutes of our state, and there is no other question in the case. These instruments were in the usual form, it being certified that a certain party is the owner of a specified number of shares of the…
2Cases cited2 opinions
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