Alberger v. National Bank of Commerce
Supreme Court of Missouri
Appeal from Jackson Circuit Court. (1) It was declared by this court at an early day that “the law may be considered as settled that a corporation may convey its property in trust to pay its debts, and, like an individual, may prefer one creditor over another.” St. Louis v. Alexander, 23 Mo. 483, 524; _Foster v. Mill Co., 92 Mo. 79; Hutchinson v. Creen, 91 Mo, 367; Bank v. Iron.
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Appeal from Jackson Circuit Court. (1) It was declared by this court at an early day that “the law may be considered as settled that a corporation may convey its property in trust to pay its debts, and, like an individual, may prefer one creditor over another.” St. Louis v. Alexander, 23 Mo. 483, 524; _Foster v. Mill Co., 92 Mo. 79; Hutchinson v. Creen, 91 Mo, 367; Bank v. Iron. Co., 97 Mo. 38; Coates v. Donnell, 94 N. Y. 168. (2) “If there be no legislative prohibition against a transfer of corporate property, or its use in preferring creditors after insolvency, no reasons can be given why…
1Opinion of the CourtBarclay, J.
— This is a suit to set aside a preference and for the appointment of a receiver, etc.
It is not necessary to state the pleadings.
The facts are admitted.
In February, 1891, the Krull Tailoring Company of Kansas City became financially embarrassed. Being threatened with attachments, it turned over its merchandise, fixtures and book accounts to the National Bank of Commerce, and delivered immediate possession of the same to the latter to secure a debt of about $3,200, then due to the bank, evidenced by the note of the company.
In January, 1891, the stock of the company had been invoiced at about…
2Cases cited14 opinions
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- Union Bank of Chicago v. Kansas City BankSupreme Court of the United States · 1890
- Lyons-Thomas Hardware Co. v. Perry Stove Manufacturing Co.Texas Supreme Court · 1893
- Fogg v. BlairSupreme Court of the United States · 1890
- City of St. Louis v. AlexanderSupreme Court of Missouri · 1856
9 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Schufeldt v. SmithSupreme Court of Missouri · 1895
- Waggoner-Gates Milling Co. v. Ziegler-Zaiss Commission Co.Supreme Court of Missouri · 1895
- State ex rel. Grimm v. Manhattan Rubber Manufacturing Co.Supreme Court of Missouri · 1899
- Corey v. WadsworthSupreme Court of Alabama · 1897
- American Exch. Nat. Bank of New York City v. WardCourt of Appeals for the Eighth Circuit · 1901
21 more not listed; retrieve them via the Exa API.