State Inv. & Ins. Co. v. Superior Court of San Francisco

Application for writ of prohibition.

The State Investment and Insurance Company was incorporated under the laws of this state, December 1, 1871, with a capital stock of four hundred thousand dollars, for the purpose of doing a fire insurance business in the city and county of San Francisco, and very soon thereafter organized, with its capital stock fully paid, and commenced the transaction of business. June 1, *138 1893, certain creditors of the corporation, whose debts aggregated forty-nine thousand dollars, filed a petition in the superior court of the city and county of San Francisco, setting forth facts constituting acts of insolvency on the part of the corporation, and alleging that the said corporation was insolvent, and praying that it be adjudged an insolvent debtor. Upon filing this petition, the court made an order requiring the corporation to show cause before it, in Department No. Ten, on the 13th of June, why it should not be adjudged an insolvent debtor, arid, in its said order, forbade it from transferring any of its property until the further order of the court. This order was duly served upon the corporation, and, on the return day thereof, it appeared in court…