Holton v. Wallace
Court of Appeals for the Third Circuit
Appeal from the Circuit Court of the United States for the Western District of Pennsylvania. This was a suit in equity by Forbes Holton, as a stockholder of the Newcastle Northern Railway Company, “on behalf of himself and other stockholders of said company,” against O. $. Wallace and several other individuals, to enforce alleged rights of the corporation. The circuit court dismissed the bill, with costs (66 Fed. 409), and the complainant has appealed.
1Opinion of the Court
BUTLER, District Judge.
After a. careful examination of the several errors assigned, we are unable to sustain any of them. The opinion of the circuit court is a sufficient vindication of its action in dismissing the bill. The causes of suit set up are not vested in the plaintiff, but in the corporation, or the receivers of its property, appointed by the court, and the plaintiff has not shown himself qualified to sue on the rights of either. What the circuit court has said in this respect so fully expresses our views that we adopt it, and decide the case accordingly. The decree is affirmed,…
2Cited by2 opinions
- Hutton v. Joseph Bancroft & Sons Co.U.S. Circuit Court for the District of Delaware · 1897
- Bimber v. Calivada Colonization Co.U.S. Circuit Court for the District of Western Pennsylvania · 1901