Hancock National Bank v. Farnum

The facts of this case are these: The plaintiff in error, plaintiff below, a creditor of the Commonwealth Loan & Trust Company, a corporation duly organized under the laws of the state of Kansas, recovered a judgment on December 8, 1893, in the circuit court of the United States for the district of Kansas against the corporation for the sum of $16,136.76 debt, and $28.45 costs of suit. Thereafter, on April 27, 1894, an execution was issued on the judgment, and after due search and diligence no property of the corporation could be found to be taken in satisfaction thereof, and it was returned wholly unsatisfied. The corporation was not a railway, religious, or charitable corporation. The defendant is a stockholder in that corporation, holding ten shares of the capital stock of the par value of $100 each, and appearing as such stockholder on the books of the corporation. Setting forth these facts with further detail of the provisions of the Kansas Constitution and statutes, the plaintiff filed its declaration in the common pleas division of the supreme court of Rhode Island to recover a judgment for a sum equal to the amount of defendant's stock. To this declaration a demurrer was filed and sustained and judgment entered for the defendant (20 R. I. 466, —L. R. A. --, 40 Atl. 341), to reverse which judgment the plaintiff sued out this writ of error.

Messrs. William Reed Bigelow, H. J. Jaquith, William J. Cronin, and John E. Conley for plaintiff in error.

Messrs. Walter F. Angell, Stephen O. Edwards, Seeber Edwards, and Albert Gerald for defendant in error.

Mr. Justice Brewer delivered the opinion of the court: