Carlisle v. Saginaw Valley & St. Louis Railroad

Carlisle, the plaintiff in error, is sued as a stockholder for' assessments on stock, and defends on two grounds: first, that he never became a stockholder; and, second, that by an arrangement with another company, the defendant in error made stipulations depriving itself of the power' of putting its terminus in East Saginaw, where it was to have been placed by its articles, and so destroying the chief consideration for the subscriptions made in that city.

The agreement in question was made with the Jackson, Lansiug & Saginaw railroad, for the use of the track of the latter company from the…