Wallace & Sons v. Walsh

Ruger, Ch. J.

action was brought against the defendants, as trustees of the “ Syracuse Stove Company,” to recover an indebtedness owing to the plaintiff by that corporation, upon the ground that such trustees had become personally liable therefor by reason of their neglect to make and publish the annual reports for the years 1887 and 1888 of the financial condition of the corporation as required by .statute. Section 12, chap. 40, Laws of 1848. The company was incorporated under the law of 1848 as a manufacturing corporation, and the language of the statute imposing the duty of making reports,…