Scovill v. Thayer
Supreme Court of the United States
Error to the Circuit Court of the United- States for the District of Massachusetts- On Nov. 25, 1870, the Fort Scott Coal and Mining Company' was organized as a corporate body under the General Laws of the State of Kansas, with a capital stock of $100,000.. According to the' laws of that State, any corporation might increase its capital stock to any amount- pot - exceeding double its authorized capital.
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Error to the Circuit Court of the United- States for the District of Massachusetts- On Nov. 25, 1870, the Fort Scott Coal and Mining Company' was organized as a corporate body under the General Laws of the State of Kansas, with a capital stock of $100,000.. According to the' laws of that State, any corporation might increase its capital stock to any amount- pot - exceeding double its authorized capital. Under the provision of this law the corporation, on April 19, 1871, increased its capital stock from $100,000 to $200,000. On Oct. 16, 1872, the corporation, attempted, by taking the -steps…
1Opinion of the Court
•Mr. Justice Woods,
after stating the casé, delivered the opinion of the court.
The averments made in the. declaration were substantially supported by the agreed statement, and there should have been judgment thereon for the plaintiffs, . unless, upon the .facts as disclosed, they were shown not to be entitled to a recovery on the merits, or unless the Statute of Limitations was a bar to the action.
The defendant insists, first, that the third and fourth issues of stock, which wére made after the limit had been reached, within which the amount of capital stock of the company was restricted by…
2Cases cited16 opinions
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3Cited by303 opinions
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