Torrey v. Toledo Portland Cement Co.
Michigan Supreme Court
Appeal from Washtenaw; Kinne, J. Bill by Orlando L. Torrey and others against the Toledo Portland Cement Company, William Watts, and others, for the appointment of a receiver of defendant corporation, for an accounting, and for general relief. From an order overruling the demurrer of defendant Watts, he appeals.
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Appeal from Washtenaw; Kinne, J. Bill by Orlando L. Torrey and others against the Toledo Portland Cement Company, William Watts, and others, for the appointment of a receiver of defendant corporation, for an accounting, and for general relief. From an order overruling the demurrer of defendant Watts, he appeals. The complainants-in this case, 35 in number, allege that they are stockholders of the Toledo Portland Cement Company; that they are residents of Washtenaw county; that said company is organized under the laws of this State; that its capital stock was $500,000; its place of business at…
1Opinion of the CourtGrant, J.
(after stating the facts). Many of the material allegations in the bill are upon information and belief. They could not well be otherwise, because complainants have been denied all access to the books and records of the company.
The statute under which the corporation was organized (2 Comp. Laws, chap. 188) requires that 10 per cent, of the capital stock shall be paid in (§ 7038, subd. 6); that its secretary and treasurer shall reside, have their place of business and keep the books of said corporation within this State (§ 7042); that the books of said corporation shall be kept at the office…
2Cases cited2 opinions
- Miner v. Belle Isle Ice Co.Michigan Supreme Court · 1893
- Edwards v. Michigan Tontine Investment Co.Michigan Supreme Court · 1902
3Cited by11 opinions
- Madugula v. TaubMichigan Supreme Court · 2014
- Freeman v. MitchellMichigan Supreme Court · 1917
- Robinson v. De Luxe Motor Car Co. of New JerseyMichigan Supreme Court · 1912
- Torrey v. Toledo Portland Cement Co.Michigan Supreme Court · 1909
- German Corp. v. Negaunee German Aid SocietyMichigan Supreme Court · 1912
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