Ohio Valley Trust Co. v. Stewart

Citations

• 251 Pa. 544
• 96 A. 1098
• 1916 Pa. LEXIS 502

Syllabus

<p>Corporations — Mismanagement■ — -Losses — Bill for accounting against treasurer — Dismissal of till — Equity.</p> <p>Where'in a suit in equity brought by the receiver of a corporation to compel the former treasurer to account for money and property -which had come into his hands, it appeared that under the by-laws, the directors, not the treasurer, controlled the business of the company, that defendant’s accounts were accurately kept, and that the losses complained of resulted from the acts of employees, not under defendant’s supervision, but under that of the board of directors; and the evidence failed to show that defendant had failed to account for any moneys which had come into his custody or that he had improperly disbursed any of such money, the bill was properly dismissed.</p>