Lackawanna Trust & Safe Deposit Co. v. Gomeringer
Supreme Court of Pennsylvania
Appeal, No. 32, Jan. T., 1912, by plaintiffs from order of C. P. Lackawanna Co., Nov. T., 1911, No. 54, making absolute rule for subrogation in case of Lackawanna Trust & Safe Deposit Company, Assigned to Carl Lorenz, Frederick Glatz and W. W. Leroy v. Christian Gomeringer and Adolph Haefner, a partnership doing business as the Standard Knitting-Works. Rule for subrogation.
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Appeal, No. 32, Jan. T., 1912, by plaintiffs from order of C. P. Lackawanna Co., Nov. T., 1911, No. 54, making absolute rule for subrogation in case of Lackawanna Trust & Safe Deposit Company, Assigned to Carl Lorenz, Frederick Glatz and W. W. Leroy v. Christian Gomeringer and Adolph Haefner, a partnership doing business as the Standard Knitting-Works. Rule for subrogation. Newcomb, J., filed the following opinion: This motion arises out of a controversy between the Standard Knitting Works, a corporation, hereinafter called the defendant company, and its minority stockholders — three in…
1Opinion of the Court
Opinion by
Mr. Justice Stewart,
The record shows these facts. Gomeringer and Haefner, partners, with a view to establishing thereon a manufacturing plant, purchased from the Lackawanna Trust & Safe Deposit Company a lot of ground in the city of Scranton, giving in part payment therefor their bond in the sum of $3,250, secured by mortgage on the premises. Subsequently a corporation was formed under the name of the Standard Knitting Works, of which Gomeringer and Haefner were the principal promoters, to which they conveyed the lot of ground above mentioned, subject to the payment of the mortgage…
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