Baines

Baines v. West Coast Lumber Co.

Good Law
104 Cal. 1·1894 Cal. LEXIS 846·37 P. 767
Supreme Court of CaliforniaSeptember 4, 1894No. 19352California1,820 words

Opinion

lead Opinion

Vanclief, J.

As indicated by the title, the controversy here is solely between the alleged intervenors and two of the defendants in the action as originally commenced. The action, as originally commenced against Babcock, Story, San Diego Street Car Company et al., was of the nature of a creditor’s bill in equity to subject equitable assets of the street-car company (a corporation) to the satisfaction of a judgment against it in favor of the plaintiff. It was averred in the complaint that Babcock and Story and certain other defendants were the owners and holders of a large number of shares of stock of the street-car corporation, on which shares they had paid only fifty per cent of their par value, and that they were indebted to that corporation for the unpaid balance on their subscription for said stock. After the averment of other facts necessary *3 to constitute a cause of action, the prayer was in substance that so much of said indebtedness of each of the defendants to the street-car company as might be necessary for that purpose be applied to the payment of plaintiff’s said judgment against the street-car company, and that plaintiff have execution therefor against said stockholders. The…

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