Anchor Investment Co. v. Columbia Electric Co.
Supreme Court of Minnesota
Appeal by one of defendants from an order of the district court for Ramsey county, Kelly, J., overruling a demurrer to the complaint. This action is unauthorized by G. S. 1878, c. 76, for the reason that defendant corporation was not a moneyed corporation.
Read the full summary
Appeal by one of defendants from an order of the district court for Ramsey county, Kelly, J., overruling a demurrer to the complaint. This action is unauthorized by G. S. 1878, c. 76, for the reason that defendant corporation was not a moneyed corporation. In the •case of McKusick v. Seymour, Sabin & Co., 48 Minn. 158, 50 N. W. 1114, which decided the same point, the attention of the court was mot called to G. S. 1866, c. 121, § 9, which provides that "the provisions of the General Statutes, so far as they are the same as those of existing laws, shall be construed as a continuation of such…
1Opinion of the CourtCanty, J.
Plaintiff recovered a judgment against the Columbia Electric Company, a corporation organized and created under the laws of this state. Execution was returned unsatisfied, and thereupon this action was commenced, under G-. S. 1878, c. 76, by the plaintiff on behalf of himself and all other creditors, against the corporation and its stockholders, for the appointment of a receiver of the corporate assets, and the enforcement of the constitutional liability of the defendant stockholders. Five of the defendants, who it is alleged are stockholders, demurred to the complaint, on the ground that…
2Cases cited2 opinions
- McKusick v. Seymour, Sabin & Co.Supreme Court of Minnesota · 1892
- First National Bank v. Winona Plow Co.Supreme Court of Minnesota · 1894
3Cited by1 opinion
- St. Paul Barrel Co. v. Minneapolis Distilling Co.Supreme Court of Minnesota · 1895