Duquesne Bond Corp. v. American Surety Co.

Citations

• 264 Pa. 203
• 107 A. 759
• 1919 Pa. LEXIS 619

Syllabus

<p>Attachment execution — Stock of corporation — Stipulation on appeal — Interpleader proceedings — Bes adjudícala — Parties.</p> <p>1. An attachment execution was issued against a railway company to attach shares of stock standing in the name of the defendant in the execution. After judgment against the garnishee, an appeal was taken, and, in lieu of bail on appeal, a stipulation was entered into by the plaintiff and defendant in the attachment proceedings, and a corporation and others claiming ownership of the stock, by which it was agreed that the shares should be deposited with the prothonotary of the lower court, that the garnishee might prosecute its appeal, that the appeal should not be a supersedeas, that the plaintiff might proceed by interpleader proceedings, by serving the claimants with an appropriate writ; that the alleged owners should have the right to file a claim for the stock alleged to be owned by them, and that the question of the ownership' of the shares should be determined in the proceedings in the manner provided by the Sheriff’s Interpleader Act of 1897. The garnishee did not prosecute its appeal; but the defendant instituted the interpleader proceedings, as soon as an attempt was made physically to take the stock in execution. The corporation claimant of the stock was not a party in the attachment proceedings, was not served therein, did not intervene, and had no notice of them, other than the knowledge of certain of its officers acquired when they were not acting for the claimant. Meld, (1) that the claim of the corporation 'alleging ownership of the stock was not res adjudieata by the attachment proceedings; (2) that the corporation could under the stipulation establish its ownership of the stock in the interpleader proceedings; (3) that the fact that the appeal of the garnishee was not pressed, was immaterial.</p> <p>2. The Act of June 16, 1836, Section 34, P. L. 761, 767, does not compel, but permits, a claimant of stock to become a par