Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 72

Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 72

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 edition. Excerpt: ... appellants. 1 John Howard, for the appellee. ALVEY, C. J., delivered the opinion of the Court. This is another of the many actions that have been brought by Glenn, trustee, against stockholders of the National Express and Transportation Company, a cor poration organized under the law of the State of Virginia, to recover calls made upon the shares of stock." As has been stated in other cases in this Court, the corporation becoming embarrassed in its affairs, it made a deed of assignment of all its assets for the benefit of its creditors, and the trustees in the deed failing to execute the trust, a creditors' bill was filed in the Chancery Court of the City of Richmond, in the State of Virginia, and a decree obtained, whereby the trustees in the deed were removed, and Glenn, the present plaintiff, was appointed trustee in the place and stead of the former trustees, with power and authority to sue for and collect any and all calls made by the Court upon the unpaid subscriptions to the capital stock of the corporation, for the purpose of paying the debts of the corporation, ascertained and ad judged to be paid by the decree. The decree was passed on the 14th of December, 1880, and it made a' call or assessment upon each share of the stock, of 30 per cent. of the par value thereof, the par value being $100, and there having been a previous call of 20 per cent. The call of 30 per cent. so made was directed to be paid to the trustee," the decree providing that "the said trustee is hereby authorised and directed to collect and receive the said call and assessment, and to take such prompt steps to that end, by suit or otherwise, and in such jurisdictions, as he may be advised; and if the amount realized from this call...
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Product details

  • Paperback | 216 pages
  • 189 x 246 x 12mm | 395g
  • United States
  • English
  • black & white illustrations
  • 1236970950
  • 9781236970954