Sedalia, Warsaw & Southern Railway Co. v. Abell
Missouri Court of Appeals
Appeal from Pettis 'County Circuit Court, Hon. John P. Strother, Judge. The facts are sufficiently stated in the opinion of the-court.
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Appeal from Pettis 'County Circuit Court, Hon. John P. Strother, Judge. The facts are sufficiently stated in the opinion of the-court. I. It is a well settled principle, that unless expressly authorized by the statute, the taking up of the entire capital stock, as fixed by charter or by statute, is a condition precedent to the liability of subscribers to pay assessments for the general purposes of the corporation.— Pierce on Railroads (2 ed.) p. 52 and cases cited; Allman v. Havana & G. A. A. Go., 88 Illinois 521; Field on Corp’n, 95; Brice’s Ultra Tires, 105, 72; Taggart v. Western H. Y. A.…
1Opinion of the Court
Opinion by
Hall J.
The plaintiff is a railroad corporation organized under the Revised Statutes of this state, in the year 1879. The ■defendant is one of the subscribers to the articles of association for two shares of the capital stock of $100 per share, and this action is brought to recover the amount of such subscription. Judgment was rendered by the ■circuit court in favor of plaintiff, and the defendant has .appealed therefrom to this court. The only questions presented for our determination are questions arising by reason of the action of the circuit court in striking out, on motion of…
2Cases cited5 opinions
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- Lake Ontario, Auburn & New-York Railroad v. MasonNew York Court of Appeals · 1857
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- Home Stock Insurance v. SherwoodSupreme Court of Missouri · 1880
- Hannibal, Ralls County & Paris Plank Road Co. v. MenefeeSupreme Court of Missouri · 1857
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