Brinkerhoff-Farris Trust & Savings Co. v. Home Lumber Co.
Supreme Court of Missouri
Appeal from Vernon Circuit Court. — Hon. D. P„ Stratton, Judge. (1) The defendant’s by-law, making all transfers of stock subject to the.lien of the company for indebtedness of the holder, was valid as a proper restriction upon the transfer. Spurlock v. Railroad, 61 Mo. 319, and cases cited; 25 Mo. App. 642; Ins.
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Appeal from Vernon Circuit Court. — Hon. D. P„ Stratton, Judge. (1) The defendant’s by-law, making all transfers of stock subject to the.lien of the company for indebtedness of the holder, was valid as a proper restriction upon the transfer. Spurlock v. Railroad, 61 Mo. 319, and cases cited; 25 Mo. App. 642; Ins. Co. v. Goodfellow, 9 Mo. 49; Bank v. Bank,. 45 Mo. 513. (2) Certificates of stock in a corporation are not negotiable paper, and a mere assignment without. a full transfer on the books of. the company, while good between the parties, does not make the assignee an innocent bona fide…
1Opinion of the CourtGantt, P. J.
In February, 1888, the BrinkerhofE-Farris Trust and Savings Company loaned J. "W. Oleland $13,000 and accepted as collateral security, two certificates of stock in the Home Lumber Company, each certificate calling for fifty shares, of the par value of $100 per share. One certificate was numbered 40 and bore the date of May 1, 1885, and the other was dated April 12, 1886.
The certificates were in the following form and were alike, save as to the number and date:
“CERTIFICATE OF STOCK.
“State oe Missouri.
“Home Lumber Company.
“No. 40. 50 Shares.
“This is to certify that J. ‘W. Oleland is proprietor…
2Cases cited23 opinions
- Bank v. LanierSupreme Court of the United States · 1871
- Webster v. UptonSupreme Court of the United States · 1876
- Johnston v. LaflinSupreme Court of the United States · 1881
- Wilson v. St. Louis & San Francisco Railway Co.Supreme Court of Missouri · 1891
- Alexander v. RelfeSupreme Court of Missouri · 1881
18 more not listed; retrieve them via the Exa API.
3Cited by47 opinions
- Estate of Reynolds v. CommissionerUnited States Tax Court · 1970
- Non-Royalty Shoe Co. v. Phoenix Assurance Co.Supreme Court of Missouri · 1919
- Loth v. LothSupreme Court of Minnesota · 1949
- Tevis v. RyanArizona Supreme Court · 1910
- Moffitt v. HerefordSupreme Court of Missouri · 1896
42 more not listed; retrieve them via the Exa API.