Shurtz v. Schoolcraft & Three Rivers Railroad

Campbell J.:

Defendant was sued upon a subscription to tbe stock of plaintiffs, made December 18, 1855. It appears from tbe finding, that tbe company bad been previously organized, by an original subscription and filing of articles under tbe General Railroad Law, and that five commissioners were named in tbe articles to open books for further subscriptions under the statute. Tbe amount of capital stock, *271fixed by the articles of agreement, was $180,000, divided into 5200 shares of $25 each. The directors, by vote June 14, 1855 (which was during the same month when the organization took place),…