Corn Exchange National Bank v. Kaiser
Wisconsin Supreme Court
Appeal from an order of the circuit court for Eau Claire county: James Wickham, Circuit Judge. This is an appeal from an order made pursuant to sec. 1752, Stats., ordering the appellant W. A. Kaiser, as secretary of the John H. Kaiser Lumber Company, to transfer upon the books of the company 100 shares of the preferred stock of the company from the South Muscatine Lumber Company to the Corn Exchange National Banlc.
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Appeal from an order of the circuit court for Eau Claire county: James Wickham, Circuit Judge. This is an appeal from an order made pursuant to sec. 1752, Stats., ordering the appellant W. A. Kaiser, as secretary of the John H. Kaiser Lumber Company, to transfer upon the books of the company 100 shares of the preferred stock of the company from the South Muscatine Lumber Company to the Corn Exchange National Banlc. It appeared by the affidavits on which the application was based that, immediately prior to the making of the application, the applicant presented to the appellant Kaiser,…
1Opinion of the Court
WiNsnow, O. J.
In this case it is held:
1. In transferring stock under sec. 1752, Stats., the secretary of a corporation is performing' merely a ministerial duty. He does not try or decide the question of ownership, and should not be ordered to make the transfer when a bona fide contest exists between rival claimants for the stock, which contest is already in the courts or about to be brought there. Holyoke v. Millmann, 151 Wis. 551, 139 N. W. 392.
2. In the present case,, it appearing that the petitioner has possession of the former certificates duly assigned, and that the assignees of the…
2Cases cited4 opinions
- California Bank v. KennedySupreme Court of the United States · 1897
- National Bank v. CaseSupreme Court of the United States · 1879
- First Nat. Bank of Charlotte v. National Exchange Bank of BaltimoreSupreme Court of the United States · 1876
- Holyoke v. MillmannWisconsin Supreme Court · 1913
3Cited by3 opinions
- First National Bank v. City of HartfordWisconsin Supreme Court · 1925
- North Avenue State Bank v. Excelsior Mutual Building & Loan Ass'nWisconsin Supreme Court · 1932
- Attorney General ex rel. Blied v. LevitanWisconsin Supreme Court · 1928