People v. New York Building-Loan Banking Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the petitioner, Peter J. Montague, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 23d day of August, 1904, denying the petitioner’s motion for an order directing certain moneys to be paid to him by the respondent. The facts, as well as the conclusions upon which the order was based, are clearly stated in the opinion of the learned judge at Special Term (44 Mise.
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Appeal by the petitioner, Peter J. Montague, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 23d day of August, 1904, denying the petitioner’s motion for an order directing certain moneys to be paid to him by the respondent. The facts, as well as the conclusions upon which the order was based, are clearly stated in the opinion of the learned judge at Special Term (44 Mise. Rep. 296) as follows : “ The defendant, the New York Building Loan-Banking Company, is insolvent and in the hands of a permanent…
1Opinion of the Court
O’Brien, J.:
We think the application was premature, and that the prescribing of any fixed rule at the present time is unnecessary, and may in the end embarrass rather than aid in the final distribution of the assets of this insolvent corporation. Thus with regard to-the subject of dues, which were in substance payments upon the shares held by the-petitioner, the conclusion of the Special Term that this amount should be credited to the petitioner and should serve “ as a basis for the fixing of his pro rata share of the net assets as a stockholder ” is undoubtedly correct. In regard to the…
2Cases cited10 opinions
- Post v. Building & Loan Ass'nTennessee Supreme Court · 1896
- Rogers v. RainsCourt of Appeals of Kentucky · 1896
- Choisser v. YoungAppellate Court of Illinois · 1897
- Hall v. StowellAppellate Division of the Supreme Court of the State of New York · 1902
- Rochester Savings Bank v. WhitmoreAppellate Division of the Supreme Court of the State of New York · 1898
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3Cited by2 opinions
- Groover v. Pacific Coast Sav. SocietyCalifornia Supreme Court · 1912
- People v. New York Building-Loan Banking Co.Appellate Division of the Supreme Court of the State of New York · 1905