Willamette Freighting Co. v. Stannus
Oregon Supreme Court
Appeal from Benton County. This action was instituted by the Willamette Freighting Company, a private corporation organized under the general incorporation law of this State, to recover from Samuel Stannus the aggregate amount of five separate assessments upon twenty shares, valued at one thousand dollars, of the capital stock -of the company, which shares Stannus subscribed for and agreed to take.
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Appeal from Benton County. This action was instituted by the Willamette Freighting Company, a private corporation organized under the general incorporation law of this State, to recover from Samuel Stannus the aggregate amount of five separate assessments upon twenty shares, valued at one thousand dollars, of the capital stock -of the company, which shares Stannus subscribed for and agreed to take. The complaint alleges that the respondent, who was plaintiff in the Court below, is a corporation, duly organized under the laws of this State on March 16, 1869. That the enterprise in which it…
1Opinion of the Court
By the Court,
McArthur, J.:
When the Willamette Freighting Company was organized the capital stock was fixed at thirty thousand dollars. No question is made but that, of this amount, fifteen thousand dollars were subscribed and taken before the Company increased its capital stock to fifty thousand dollars. We are led, therefore, to conclude that such was the fact, and it is alluded to at this time as it has an important bearing in considering the legality of the increase' of the capital stock. By virtue of the proviso in § 6 of the Act in relation to private corporations (Mis. Laws, ch. 7), it…
2Cases cited3 opinions
- Hamilton & Deansville Plank Road Co. v. RiceNew York Supreme Court · 1849
- Ohio & Mississippi Railroad v. McPhersonSupreme Court of Missouri · 1864
- Battershall v. DavisNew York Supreme Court · 1860
3Cited by6 opinions
- Temple Enterprises, Inc. v. CombsOregon Supreme Court · 1940
- Inverarity v. StowellOregon Supreme Court · 1882
- Budd v. Multnomah Street Railway Co.Oregon Supreme Court · 1887
- Graebner v. PostWisconsin Supreme Court · 1903
- A. & S. C. R. Co. v. HillOregon Supreme Court · 1890
1 more not listed; retrieve them via the Exa API.