In re Interborough Consolidated Corp.
District Court, S.D. New York
In Bankruptcy. In the matter of the Interborough Consolidated Corporation, bankrupt. On claim of Agnes M. Th Reilly to recover dividends on preferred stock of a consolidated corporation as a preferred claim.
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In Bankruptcy. In the matter of the Interborough Consolidated Corporation, bankrupt. On claim of Agnes M. Th Reilly to recover dividends on preferred stock of a consolidated corporation as a preferred claim. For brevity, Interborough-Metropoliian Company will be referred to as Tutor-Met.; Finance & Holding Corporation, as F. & H. Co.; tbe bankrupt, as Consolidated Co. The claimant, acquired 300 shares of preferred stock of Inlor-Met. in 1906. Inter-Met. was organized under the Business Corporations Law of the state of New York in 1906. At the time of the organization of the Corporation, and…
1Opinion of the CourtMayer, Circuit Judge
(after stating the facts as above). In the case at bar, claimant acquired her stock after the statute authorizing consolidation of corporations had been enacted. She thus held her stock with the advantages and the burdens of the statute, and the statute was read into the contract between her and the corporation. The difference in status between one who acquires slock-prior to the existence of such a statute and one who acquires stock subsequent to its enactment is well illustrated in Clearwater v. Meredith, 1 Wall. 25, 40, 17 L. Ed. 604. and Nugent v. Supervisors of Putnam Co., 19 Wall. 242,…
2Cases cited12 opinions
- Clearwater v. MeredithSupreme Court of the United States · 1864
- Nugent v. the SupervisorsSupreme Court of the United States · 1874
- Winfree v. Riverside Cotton MillsSupreme Court of Virginia · 1912
- Barnett v. Philadelphia Market Co.Supreme Court of Pennsylvania · 1907
- Colby v. Equitable Trust Co.Appellate Division of the Supreme Court of the State of New York · 1908
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3Cited by6 opinions
- Anderson v. International Minerals & Chemical Corp.New York Court of Appeals · 1946
- Johnson v. Bradley Knitting Co.Wisconsin Supreme Court · 1938
- Haggard v. Lexington Utilities Co.Court of Appeals of Kentucky (pre-1976) · 1935
- Zobel v. American Locomotive Co.New York Supreme Court · 1943
- Pearson v. Clam Falls Cooperative Dairy Ass'nWisconsin Supreme Court · 1943
1 more not listed; retrieve them via the Exa API.