Cable v. McCune
Supreme Court of Missouri
Error to St. Louis Court of Common Pleas. The object of this action, which was commenced August 21, 1854, is to subject the defendants to personal liability as stockholders of a corporation called “ The St. Louis Marine Railway and Dock Company, established and organized under an act of the general assembly, approved January 18, 1849.” (See Sess.
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Error to St. Louis Court of Common Pleas. The object of this action, which was commenced August 21, 1854, is to subject the defendants to personal liability as stockholders of a corporation called “ The St. Louis Marine Railway and Dock Company, established and organized under an act of the general assembly, approved January 18, 1849.” (See Sess. Acts, 1849, p. 144.) The petition sets forth substantially that in and prior to August, 1851, the defendants were, and thenceforward continued to be, stockholders in The St. Louis Marine Kailway & Dock Company, a corporation created by an act of the…
1Opinion of the CourtNapton, Judge
Our opinion in this case is based entirely upon the penal character of the statute we are called upon to construe.
The corporation is required to publish an annual statement of their condition for the information of the public, and a failure to do so renders the stockholders responsible for a specified class of demands existing prior to or at the time of such publication. The object is to inform the public, who expect to have dealings with such corporations, of their probable responsibility. This liability, in the event of there being no required publication, does not depend upon the actual…
2Cases cited4 opinions
- Heacock v. ShermanNew York Supreme Court · 1835
- Carver v. Braintree Manuf'g Co.U.S. Circuit Court for the District of Massachusetts · 1843
- Acks v. BallSupreme Court of Missouri · 1851
- McDonald v. ForsythSupreme Court of Missouri · 1850
3Cited by23 opinions
- McDonnell v. Alabama Gold Life InsuranceSupreme Court of Alabama · 1888
- Swanson v. City of OttumwaSupreme Court of Iowa · 1902
- Globe Publishing Co. v. State BankNebraska Supreme Court · 1894
- Savage v. ShawMassachusetts Supreme Judicial Court · 1907
- Child v. Boston & Fairhaven Iron WorksMassachusetts Supreme Judicial Court · 1884
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