Vernon's Estate
Supreme Court of Pennsylvania
Appeal, No. 291, Jan. T., 1908, by the Delaware County Trust, Safe Deposit & Title Insuranee Company, guardian of Mary W. Vernon et al., minors, from decree of O. C. Del. Co., dismissing exceptions to report of auditor in Estate of William G. Vernon, deceased. Exceptions to report of George B. Lindsay, Esq., auditor. Before Broomal, J. The facts are stated in the opinion of the Supreme Court. Errors assigned were in dismissing exceptions to auditor’s report.
1Opinion of the Court
Opinion by
Mr. Justice Potter,
It appears from the record in this case that at the time of his death, May 8, 1904, William G. Vernon owned 187 shares of the capital stock of the Philadelphia Lawn Mower Company of the par value of $100 per share. The market value of the stock was, however, regarded as being considerably more than the par value, provided the stock could be sold and transferred without restriction. It seems that a by-law of the corporation provides as follows: “Shares of capital stock may be transferred by indorsement on the certificate and its surrender to the secretary for…
2Cited by4 opinions
- Minichello EstateSupreme Court of Pennsylvania · 1951
- In Re Estate of ComiskeyAppellate Court of Illinois · 1960
- Widmyer TrustSupreme Court of Pennsylvania · 1948
- Williams' EstatePennsylvania Orphans' Court, Philadelphia County · 1942