Page:Federal Reporter, 1st Series, Volume 6.djvu/644

 632 FSDEBAL BEPOBTEB. �for his wages as master. The debts of the boat (exclusive of his claims) far exceed the fund for distribution. They were contracted in the building, equipping, and running of the boat, and are liens under the local law. For the most part they were incurred upon the orders of the exceptant as superintendent and master. The exceptant is an original stockholder of the Six-Mile Ferry Company, holding stock to the amount of $300 at the par value. But no part of his stock has been paid up. He testifies, indeed, that there -waa an understanding between himself and the company that he ■was to pay nothing, as he "was poor and had no money to pay for it." He adds, however, that it was his calculation to pay for his stock out of his share of the profits. Now, the capital stock of a corporation is a fund for the payment of its debts, (Sanger v. Upton, 91 U. S. 56,) and the corporation cannot grant to an original stockholder an immunity from liability to stock payments to the prejudice of the creditorsof the corporation. Upton v. TriUlcock, 91 U. S. 45. If, then, there was an agreement, such as alleged, that the exceptant was not to pay for his stock, it was fraudulent in law, and void as against the creditors whom the exceptant is now op- posing; and if he is too poor to pay his share of the capital stock he should not be permitted to diminish the scanty fund now for distribution, for, so far as appears, the corporation has no other property. ���The Schoonbe Niantio. �(District Court, D. ConriecUcut. March 25, 1881.) �WHABP — LiABILITT OF OWNEB. �Where a vessel voluntarily takes her own berth partly at the wharf of the consignee and partly upon the unwharfed outland of a third person, and neither makes a request for a berth nor inquiry for in- formation, and the consignee does not know of her presence at the wharf, the latter is not liable because information was not furnished the master of the cbanged condition of the bottom in that neighbor- hood since the vessel had last lainat that wharf. — [Ed. ��� �