Swearingen v. Sewickley Dairy Co.
Supreme Court of Pennsylvania
Appeal, No. 57, Oct. T., 1899, by A. M. Byers, from decree of O. P. No. 1., Allegheny Co., Sept. T., 1899, No. 17, on bill in equity in case of T. Brent Swearingen, Assignee of Fleming Brothers and such others as may become parties hereto, v. The Sewickley Dairy Company, A. M. Byers et al., Stockholders. Bill in equity by creditors against a corporation and its stockholders to enforce the payment of an alleged balance due on stock subscriptions. See next case.
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Appeal, No. 57, Oct. T., 1899, by A. M. Byers, from decree of O. P. No. 1., Allegheny Co., Sept. T., 1899, No. 17, on bill in equity in case of T. Brent Swearingen, Assignee of Fleming Brothers and such others as may become parties hereto, v. The Sewickley Dairy Company, A. M. Byers et al., Stockholders. Bill in equity by creditors against a corporation and its stockholders to enforce the payment of an alleged balance due on stock subscriptions. See next case. The facts appear by the opinion of the Supreme Court. The court entered the following decree: 1. That the defendants hereinafter named…
1Opinion of the Court
Opinion by
Mr. Justice Mitchell,
The dairy company on June 11, 1889, authorized a call for *71twenty-five per cent of the subscription to stock, payable on July 1, in order to pay for a right of way contracted to be purchased from one Fleming, as specified in the resolution. Under arrangement with Fleming, the company, instead of collecting the twenty-five per cent and paying it to Fleming, issued the stock itself directly to him, credited with a payment of twenty-five per cent. The contract was not carried out, however, and the right of way was never conveyed by Fleming to the company. Between…
2Cases cited19 opinions
- Terry v. AndersonSupreme Court of the United States · 1877
- Sanger v. UptonSupreme Court of the United States · 1875
- Sawyer v. HoagSupreme Court of the United States · 1873
- Hatch v. DanaSupreme Court of the United States · 1880
- Bunn's AppealSupreme Court of Pennsylvania · 1884
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3Cited by31 opinions
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- Aarons v. Pub. Ser. B. L. Assn.Supreme Court of Pennsylvania · 1935
- Cook v. CarpenterSupreme Court of Pennsylvania · 1905
- Harrigan v. BergdollSupreme Court of the United States · 1926
- Dominion Trust Co. v. HildnerSupreme Court of Pennsylvania · 1914
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