Foster v. Posson
Wisconsin Supreme Court
Appeal from an order of the circuit court for Ashland county: JohN K. Paeish, Circuit Judge. Certain persons holding claims against the Nimikon Iron Mining Company, for which the stockholders of such company were personally liable under sec. 1769, R. S. 1878, commenced an action against such corporation and all its stockholders to enforce such liability.
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Appeal from an order of the circuit court for Ashland county: JohN K. Paeish, Circuit Judge. Certain persons holding claims against the Nimikon Iron Mining Company, for which the stockholders of such company were personally liable under sec. 1769, R. S. 1878, commenced an action against such corporation and all its stockholders to enforce such liability. Such proceedings were duly had that on the 6th day of February, 1897, a judgment was rendered decreeing that there was due to the creditors represented, as plaintiffs, $14,581.13 damages and costs; that certain stockholders, naming them, were…
1Opinion of the CourtMarshall, J.
Sec. 1769, E. S. 1878, provides that the stockholders of every corporation other than railroad corporations shall be personally liable to an amount equal to the amount of stock owned by them respectively in such corporation for all debts which may be due and owing to its clerks, servants, and laborers for services performed for such corporation, but not exceeding six months’ services in any one case. The nature of such stockholders’ liability is precisely the same as the stockholders’ liability to general creditors under sec. 47 of the banking act (subsec. 47, p. 1537, Stats. 1898). In the…
2Cases cited13 opinions
- Cromwell v. County of SacSupreme Court of the United States · 1877
- Nesbit v. Riverside Independent DistrictSupreme Court of the United States · 1892
- Grunert v. SpaldingWisconsin Supreme Court · 1899
- Wentworth v. Racine CountyWisconsin Supreme Court · 1898
- Gager v. MarsdenWisconsin Supreme Court · 1899
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3Cited by11 opinions
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- Williams v. BrewsterWisconsin Supreme Court · 1903
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