Anheuser-Busch Brewing Ass'n v. Park Novelty Co.
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court.--Now. Wm. M. Kinsey, Judge. (1) It devolves on plaintiff creditor to establish affirmatively that the capital stock of the Park Novelty Company was not in fact full paid. The stock on its face purporting to be full paid, there is no obligation on defendant stockholders to show that it was so full paid. The burden rests on the party alleging it to be not full paid. Bruce v. Driggs, 25 How.
Read the full summary
Appeal from St. Louis City Circuit Court.--Now. Wm. M. Kinsey, Judge. (1) It devolves on plaintiff creditor to establish affirmatively that the capital stock of the Park Novelty Company was not in fact full paid. The stock on its face purporting to be full paid, there is no obligation on defendant stockholders to show that it was so full paid. The burden rests on the party alleging it to be not full paid. Bruce v. Driggs, 25 How. Prac. 71; Chase v. Lord, 77 New York 1, 6 Abb. N. C. 258; Wellington v. Const. .& Imp. Co., 52 Hun 408, 5 N. Y. Supp. 587; Taylor v. Mining Co., 86 Mass. (4 Allen)…
1Opinion of the CourtGoode, J.
Plaintiff haying obtained a judgment against the Park Novelty Company, a corporation, caused an execution to issue thereon, which was returned nulla bona. Thereupon plaintiff filed a motion for execution against the defendants Kilgen and Rule, stockholders of the corporation and each holding twenty-four shares of stock on which the motion alleged there remained unpaid sixty per cent of the par value. The answer to the motion for execution stated as reasons why the execution should not issue against the defendants that the shares of the capital stock of the corporation purported to be fully…
2Cases cited2 opinions
- Van Cleve v. BerkeySupreme Court of Missouri · 1898
- McClure v. Paducah Iron Co.Missouri Court of Appeals · 1901
3Cited by2 opinions
- Raleigh Investment Co. v. BunkerSupreme Court of Missouri · 1920
- Schneider v. JohnsonMissouri Court of Appeals · 1911