Veigel v. Minneapolis Stone Co.

This appeal by certain stockholders from an order assessing them because of their constitutional “double liability” raises the single question whether, under art. 10, § 3, of the state constitution, the Minneapolis Stone Company, a Minnesota corporation, was organized exclusively for the carrying on of “any kind of manufacturing or mechanical business.” If it was not, applicants are subject to assessment.

The question must be answered by consideration, not of what was actually done by the corporation, but of what it was authorized to do. The general purpose clause of its certificate of…