People ex rel. Peabody, Houghteling & Co. v. Goldfogle

Dowling, J.:

The relator is a New York corporation, organized to carry on business of an investment company, with powers as defined in the Banking Law, in addition to powers conferred by the General Corporation Law and the Stock Corporation Law, exclusive, however, of powers stated in subdivisions 4 and 5 of section 293 of the Banking Law, and without power to receive deposits or to issue its own debenture bonds or notes secured by deed or deeds of trust.

The relator was conducting its business at 366 Madison avenue, New York city, such business consisting solely of (1) purchasing *711with its own…