Fairview R. R. v. Spillman
Oregon Supreme Court
Multnomah County: E. D. Shattuck, Judge. Action by the Portland and Fairview Railroad Company against Thomas Spillman to recover two hundred dollars because of a subscription for that amount made by the defendant, as an original subscriber to the capital stock of the plaintiff company. The subscription was made before the organization of the corporation.
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Multnomah County: E. D. Shattuck, Judge. Action by the Portland and Fairview Railroad Company against Thomas Spillman to recover two hundred dollars because of a subscription for that amount made by the defendant, as an original subscriber to the capital stock of the plaintiff company. The subscription was made before the organization of the corporation. The defendant pleaded in abatement that the plaintiff was never legally organized, because at the time of the election of the board of directors one-half of the capital stock had not been subscribed. This was held good on demurrer, and, upon…
1Opinion of the CourtBean, J.
The amount of the capital stock of plaintiff, as provided in its articles of incorporation, is fifty thousand dollars. On June 29, 1891, the date of the attempted organization, the total amount of subscriptions for stock was twenty-nine thousand two hundred and sixty-five dollars, but five thousand dollars of this amount was upon the condition that the amount of stock subscribed, exclusive of this subscription, be not less than twenty-five thousand dollars; another five thousand dollars was on condition that a certain tract of land owned *589by the subscriber should have a five-cent fare; and…
2Cases cited12 opinions
- Shaw v. SpencerMassachusetts Supreme Judicial Court · 1868
- Swartwout v. Michigan Air Line RailroadMichigan Supreme Court · 1872
- Burke v. SmithSupreme Court of the United States · 1873
- Hoxie v. Home InsuranceSupreme Court of Connecticut · 1864
- Hager v. ClevelandCourt of Appeals of Maryland · 1872
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3Cited by9 opinions
- Iltz v. KriegerOregon Supreme Court · 1922
- Hansen v. Oregon Humane SocietyOregon Supreme Court · 1933
- National Refining Co. v. CommissionerUnited States Board of Tax Appeals · 1924
- Goodale Lumber Co. v. ShawOregon Supreme Court · 1902
- Nickum v. BurckhardtOregon Supreme Court · 1897
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