Montgomery Iron Works v. Roman
Supreme Court of Alabama
Appeal from Montgomery City Court. Heard before Hon. A. I). Sayre. This was a bill filed by Sigmund Roman against tbe Montgomery Iron Works and certain stockholders thereof alleged to- be solvent, and not filed against certain other stockholders on account of their alleged insolvency.
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Appeal from Montgomery City Court. Heard before Hon. A. I). Sayre. This was a bill filed by Sigmund Roman against tbe Montgomery Iron Works and certain stockholders thereof alleged to- be solvent, and not filed against certain other stockholders on account of their alleged insolvency. The case made by the bill is the organization of the corporation, the fixing of the capital stock at $50,000, and the paying of said, stock by a delivery to the corporation of certain land, houses and machinery, alleged to be worth, then and now, not more than $25,000, and the issuance of bonds for $50,000,…
1Opinion of the CourtSimpson, J.
From an examination of the testimony we find that there is no controversy about the facts that the property of the Montgomery iron Works Company was purchased by the promoters of the new company for $25,000, with probably an-additional -agreement-to pay certain, debts of that -company, which-are stated to< be, $3,000 or $4,000; that said promoters had the amount of the consideration- stated -in the deed to them as $50,-000;. that said- promoters subscribed for $50,000 of the stock of the new- company, -and paid for the same by conveying said property, and as a part of the agreement were *438to…
2Cases cited14 opinions
- Rowell v. SmithWisconsin Supreme Court · 1905
- Gilbreath v. JonesSupreme Court of Alabama · 1880
- Tankersly v. PettisSupreme Court of Alabama · 1881
- Wood v. WoodSupreme Court of Alabama · 1901
- Randolph v. LittleSupreme Court of Alabama · 1878
9 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Hicks v. MeadowsSupreme Court of Alabama · 1915
- Terrell v. NelsonSupreme Court of Alabama · 1917
- Farley v. Alabama Terminal & Improvement Co.Supreme Court of Alabama · 1911
- Schillinger v. LearySupreme Court of Alabama · 1917
- Spencer v. AndersonCalifornia Supreme Court · 1924
6 more not listed; retrieve them via the Exa API.