Johns v. Coffee
Washington Supreme Court
Appeal from a judgment of the superior court for Pierce county, Card, J., entered October 2.8, 1912, upon findings in favor of the defendants, in an action on unpaid stock subscriptions.
1Opinion of the CourtFullerton, J.
— In February, 1909, the Pioneer Fire Insurance Company was incorporated under the laws of the state of Washington as a domestic fire insurance company. Its articles of incorporation located its principal place of business at Seattle, Washington, and fixed the amount of its capital stock at $200,000. On May 25, of the same year, and before it attempted to transact any insurance business, it filed supplemental articles of incorporation increasing its capital stock to $1,000,000; the stock being divided into 10,-000 shares, of the par value of $100' each. Of these shares, the incorporators…
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