Minneapolis & St. Louis Railway Co. v. Gardner

Citations

• 177 U.S. 332
• 20 S. Ct. 656
• 44 L. Ed. 793
• 1900 U.S. LEXIS 1802

Syllabus

<p>There is no substantial difference between the Federal question in this case raised in the Supreme Court of Minnesota, and that raised in it here.</p> <p>The act of Minnesota of March 2,1881, c. 113, authorizing the consolidation of several railroad companies Created a new corporation, upon which it conferred the franchises, exemptions and immunities of the constituent companies; but that did not include an exemption of stockholders in the old companies from the payment of corporate debts, dr their liability to pay them.</p> <p>In a State having a constitutional provision imposing liability on stockholders, if the legislature intended those of a new corporation created by it should be exempt, it would express the intention directly, and not commit it to disputable inference from provisions which apply by name to the corporation!</p>