Ebert-Hicken Co. Inc. v. Scott-Bevier Iron Min. Co.

Taylor, C.

An application for an assessment upon the stockholders of the defendant corporation to pay the debts of the corporation was denied on the sole ground that the corporation is within the class of corporations whose stockholders are exempt from the liability imposed by art. 10, § 3, of the constitution, which reads:

“Each stockholder in any corporation, excepting those organized for the purpose of carrying on any kind of manufacturing or mechanical business, shall be liable to the amount of stock held or owned by liim.”

It is settled by a long line of decisions that the stockholders of a…