Dozier v. Arkadelphia Cotton Mills
Supreme Court of Arkansas
Appeal from Clark Circuit Court. Joel D. Conway, Judge. McNutt stands in the attitude of a trustee for the benefit of creditors, under a general assignment. 53 Ark. 567; 67 Ark. 346; 68 Ark. 75. *
1Opinion of the CourtBattle, J.
On the 24th of November, 1892, the Arkadelphia Cotton Mills, a domestic corporation, by a resolution adopted by its stockholders, ordered its board of directors to sell its property and appropriate the proceeds of the sale to the payment of its debts, so far as they would extend. The board did so, and appropriated the proceeds toothe satisfaction of part of the debts. On the 19th of April, 1897, M. B. Dozier, as administrator of J. S. Massey, deceased, and C. K. Boswell instituted a suit in behalf of themselves and all other creditors of the Arkadelphia Cotton Mills against the Arkadelphia…
2Cases cited1 opinion
- Dozier v. Arkadelphia Cotton MillsSupreme Court of Arkansas · 1899