Dempster Manufacturing Co. v. Downs
Supreme Court of Iowa
Appeal from Polk District Qourt.— lion. W. H. McHeNry, Judge. Aqtion on note and account against E. S. Downs, with prayer that amount found due be enforced as a lien against his stock in the plaintiff company.
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Appeal from Polk District Qourt.— lion. W. H. McHeNry, Judge. Aqtion on note and account against E. S. Downs, with prayer that amount found due be enforced as a lien against his stock in the plaintiff company. This stock was assigned to the defendant Mullen as security for some loans, and he resisted the establishment of any lien in favor of plaintiff, and prayed that its officers; who were made parties, be compelled to transfer the stock to said Mullen on the books of the company. Judgment was entered against Downs as prayed, and the relief sought by plaintiff granted. Mullen appeals.—
1Opinion of the Court
Ladd, J.—
The Dempster Manufacturing Company was incorporated September 1, 189 Y, with a capital stock of $100,000, divided into shares of $100 each. Of these, 10 shares were issued to the defendant E. S. Downs. The certificates were to the effect that the shares were “ fully paid and nonassessable, transferable, only on the books of the corporation in person or by attorney on surrender of the certificate,” and the eighth article of incorporation reads, “ The corporation shall have a lien upon the stock of any holder thereof for the amount of his liability to the corporation, and this lien…
2Cases cited10 opinions
- Union Bank of Georgetown v. LairdSupreme Court of the United States · 1817
- Thompson v. LambertSupreme Court of Iowa · 1876
- Leggett v. . the Bank of Sing SingNew York Court of Appeals · 1862
- Farmers' & Merchants' Bank v. WassonSupreme Court of Iowa · 1878
- Farmers' & Traders' Bank v. HaneySupreme Court of Iowa · 1893
5 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Longyear v. HardmanMassachusetts Supreme Judicial Court · 1914
- United States & Canada Land Co. v. SullivanSupreme Court of Minnesota · 1910
- McDonald v. Farley & Loetscher Manufacturing Co.Supreme Court of Iowa · 1939
- Mason v. Mallard Telephone Co.Supreme Court of Iowa · 1932
- Newberry v. Barth, Inc.Supreme Court of Iowa · 1977
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