Mechanics' Sav. Bank v. Fidelity Insurance, Trust & Safe Deposit Co.
U.S. Circuit Court for the District of Eastern Pennsylvania
This was an action at law by the Mechanics’ Savings Bank, a Rhode Island corporation, against the Fidelity Insurance, Trust & Safe-Deposit Company, a Pennsylvania corporation, as administrator d. b. n. c. t. a. of the estate of John CL Reading, deceased. Reading was a stockholder in the Davidson Investment Company, a corporation organized under the laws of Kansas, and the suit was brought to enforce the stock liability of his estate under the Kansas laws.
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This was an action at law by the Mechanics’ Savings Bank, a Rhode Island corporation, against the Fidelity Insurance, Trust & Safe-Deposit Company, a Pennsylvania corporation, as administrator d. b. n. c. t. a. of the estate of John CL Reading, deceased. Reading was a stockholder in the Davidson Investment Company, a corporation organized under the laws of Kansas, and the suit was brought to enforce the stock liability of his estate under the Kansas laws. Verdict was given for defendant, and the case is now heard on plaintiff’s motion for a new trial.
1Opinion of the Court
DALLAS, Circuit Judge.
Section 2 of article 12 of the constitution of the state of Kansas is as follows:
“Dues from corporations shall be secured by individual liability of the stockholders to an additional amount equal to the stock owned by each stockholder; and such other means as shall be provided by law; but such individual liabilities shall not apply to railroad corporations, nor corporations for religious or charitable purposes.”
Chapter 23, p. 221, of the Compiled Laws of Kansas comprises the following:
“Sec. 32. If any execution shall have been issued against the property or effects of a…
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