Sarles v. Scandinavian American Bank
North Dakota Supreme Court
Appeal from tbe District Court of Grand Forks County, Cooley, J. Tbe plaintiff, a minority stockholder in tbe corporations, defendants, bas tbe right to maintain this action and to tbe in junctional relief asked. 10 Cyc. 968, 985, 986; 2 High, Inj. §§ 1203 — 1205, 1207; 3 Pom. Eq. Jur. 3d ed. 1093; 2 Clark & M. Corp. 539, pp. 1667 — 1673; 4 Tbomp. Corp. § 4502; 5 Thoinp. Corp. § 5693; Stewart v. Erie & W. Transp.
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Appeal from tbe District Court of Grand Forks County, Cooley, J. Tbe plaintiff, a minority stockholder in tbe corporations, defendants, bas tbe right to maintain this action and to tbe in junctional relief asked. 10 Cyc. 968, 985, 986; 2 High, Inj. §§ 1203 — 1205, 1207; 3 Pom. Eq. Jur. 3d ed. 1093; 2 Clark & M. Corp. 539, pp. 1667 — 1673; 4 Tbomp. Corp. § 4502; 5 Thoinp. Corp. § 5693; Stewart v. Erie & W. Transp. Co. 17 Minn. 372, Gil. 375; Dodge v. Woolsey, 18 How. 331, 341, 15 L. ed. 401, 404; Manderson y. Commercial Bank, 28 Pa. 379; Dunbar v. American Telepb. & Teleg. Co. 224 111. 9, 115…
1Opinion of the CourtBurke, J.
The Scandinavian American Bank and the Northwestern Trust Company are financial institutions organized under the state laws, and located at Grand Forks. Upon their organization they were affiliated in the following manner: The shareholders are identical, each owning stock in the proportion of one share in the trust company and two shares in the bank. The plaintiff owns 8f per cent of the stock of *44each corporation. In the spring of 1912 the directors had decided upon the erection of a five-story fire-proof building, 90' x 100', and had purchased a suitable lot. In 1914 th© directors adopted…
2Cases cited6 opinions
- Gibbons v. MahonSupreme Court of the United States · 1890
- Minot v. PaineMassachusetts Supreme Judicial Court · 1868
- Williams v. . Western Union Telegraph Co.New York Court of Appeals · 1883
- Noble State Bank v. HaskellSupreme Court of Oklahoma · 1909
- Brown v. SchleierCourt of Appeals for the Eighth Circuit · 1902
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Richard Jaynes and Veda J. Jaynes v. The First National Bank of Ketchikan, Alaska, a CorporationCourt of Appeals for the First Circuit · 1956
- Wehrhane v. PeytonSupreme Court of Connecticut · 1947
- Morrison v. State Bank of WheatlandWyoming Supreme Court · 1942