Bath Savings Institution v. Sagadahoc National Bank
Supreme Judicial Court of Maine
On Report. The case appears in the opinion. Tbe reports abound in cases relative to transfer of stock, but almost invariably they involve tbe question of equities as between two alleged transferees, third parties to tbe corporation, or tbe right .of tbe bolder of an unrecorded certificate either to be admitted to tbe corporation as a stockholder on tbe books, or to recover damages for a refusal to make a transfer of record.
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On Report. The case appears in the opinion. Tbe reports abound in cases relative to transfer of stock, but almost invariably they involve tbe question of equities as between two alleged transferees, third parties to tbe corporation, or tbe right .of tbe bolder of an unrecorded certificate either to be admitted to tbe corporation as a stockholder on tbe books, or to recover damages for a refusal to make a transfer of record. Diligent search fails to disclose any case where it is a question of tbe rights of the bolder for value of an unrecorded certificate as against tbe corporation in…
1Opinion of the CourtHaskell, J.
The shareholders of the defendant bank on April 11, 1894, voted voluntary liquidation, and appointed a committee with power to accomplish that result. The committee voted to pay liquidation dividend No. 1 May 1, 1894, of four dollars per share. That and various subsequent similar dividends amount to $103 a share. To recover these dividends on ten shares amounting to $1030 this action is brought.
Prior to the vote of liquidation the plaintiff bank acquired ten shares in defendant bank, recorded in the name of one Weeks, as collateral security for a loan, and still holds the same, the loan being…
2Cases cited9 opinions
- Merchants' Bank v. State BankSupreme Court of the United States · 1871
- Bank v. LanierSupreme Court of the United States · 1871
- Union Bank of Georgetown v. LairdSupreme Court of the United States · 1817
- Johnston v. LaflinSupreme Court of the United States · 1881
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
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3Cited by3 opinions
- First National Bank v. StriblingSupreme Court of Oklahoma · 1905
- McClelland v. Merchants & Miners National BankSupreme Court of Colorado · 1925
- New England Merchants National Bank v. Old Colony Trust Co.Massachusetts Appeals Court · 1981