...value. Further facts appear in the opinion of the court. Opinion by BROWN-, DJ That the capital stock of a corporation is a trust fund for the payment of its debts, and that the law implies a promise by the subscribers of stock to pay its par value, which in this instance...

...Subscription to Capital Stock—Trust Fund For Creditors—Practice.—1. The capital stock of a moneyed corporation is a trust fund for the payment of Its debts; and upon its insolvency, creditors may-compel, by bill in equity, the payment of the unpaid subscriptions to...

...Subscribers for Stock at less than par value, Invalid when. — The stock subscribed in the capital of a corporation is a trust fund for the payment of its debts; therefore the creditors of a corporation have a right to insist that it shall be paid for in full,...

...obligation at all, but an obligation in equity arising out of the consideration that the capital stock of a corporation is a trust fund for the payment of its debts. Only so much of the unpaid capital as is necessary for the payment of the debts can be called in, and...

...obligation at all, but an obligation in equity arising out of the consideration that the capital stock of a corporation is a trust fund for the payment of its debts. Only so much of the unpaid capital as is necessary for the payment of the debts can be called in, and...

...its creditors." And in the same case the court said: "The wholesome doctrine that the capital stock of a corporation is a trust fund for the payment of its debts, rests upon the idea that the creditors have a right to rely upon the fact that the subscribers to such...

...deserves, careful consideration. It is certainly an acknowledged principle that the entire capital stock of a corporation is a trust fund for the payment of its debts: Wood v. Dummer, 3 Mason, 308; Mann v. Pentz, 3 NY 422. The unpaid subscriptions to its stock are a...

...Insurance Company formed part of its capital stock, nor can there be any question that the capital stock of a corporation is a trust fund for the payment of its creditors. This has been uniformly held. Bartlett v. Drew, 57 NY 587 ; Hastings v. Drew, 76 NY 9 ;...

...existence. It is disallowed when it militates against the well-established doctrine that the capital stock of a corporation is a trust fund for the payment of its creditors. We know of no case however which goes to the extent that in a suit by a corporation to enforce...

...Railroad Company have such relief as may be equitable. Mr. James Carr for appellant. The capital stock of a corporation is a trust fund for the payment of its creditors. Saioyer v. Hoag, 17 Wall. 610; Upton v. Tribilcock, 91 US 45 ; Sawyer v. Upton, Assignee,...