Osmer v. LeMay-Wegmann Brokerage Co.
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court. — Hon. George C. Hitchcock, Judge. (1) It is a well settled rule of construction of grants by the legislature to corporations, whether public or private, that only such powers and rights can be exercised under them as are clearly comprehended within the Avords of the act, or derived therefrom by necessary implication, regard being had to the object of the grant.
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Appeal from St. Louis City Circuit Court. — Hon. George C. Hitchcock, Judge. (1) It is a well settled rule of construction of grants by the legislature to corporations, whether public or private, that only such powers and rights can be exercised under them as are clearly comprehended within the Avords of the act, or derived therefrom by necessary implication, regard being had to the object of the grant. Any ambiguity or doubt arising out of the terms used by the legislature must be resolved in favor of the public. Fanning v. Gregorie, 16 How. (U. S.) 531; Minturn v. LaRue, 23 How (U. S.) 135;…
1Opinion of the CourtReynolds, P. J.
The appellant, LeMay-Wegmann Brokerage Company, was incorporated under article 9, chapter 12, of the Revised Statutes of 1899, *215relating to the incorporation of manufacturing and business companies, the certificate of incorporation issued by the Secretary 'of State bearing date 28th of March, 1906. It was capitalized at $25,000, the stock divided into shares, of the par value of $100 each. The incorporators and first board of directors named were George Wegmann, owner of fifty shares, Louis J. LeMay, 130 shares, and Henry Wegmann, Jr. seventy shares, it being stated'that all of the capital…
2Cases cited7 opinions
- Seymour v. Spring Forest Cemetery Ass'nNew York Court of Appeals · 1895
- First National Bank v. Guardian Trust Co.Supreme Court of Missouri · 1905
- Cass County v. Mercantile Town Mutual InsuranceSupreme Court of Missouri · 1905
- City of Goodland v. Bank of DarlingtonMissouri Court of Appeals · 1898
- Kansas City ex rel. Diamond Brick & Tile Co. v. SchroederSupreme Court of Missouri · 1906
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3Cited by4 opinions
- Joseph Schlitz Brewing Co. v. Missouri Poultry & Game Co.Supreme Court of Missouri · 1921
- United States v. SchuermannDistrict Court, E.D. Missouri · 1952
- Farmers & Merchants Bank of St. Clair v. Burns & Hood Motor Co.Missouri Court of Appeals · 1956
- Cantley v. Little River Drainage DistrictSupreme Court of Missouri · 1928