...Justice Swayne thus stated the doctrine: "The capital stock of an incorporated compa'.yisa fund set apart for the payment of its debts. It is a substitute for the personal liability which subsists in private copartnerships. When debts are incurred, a contract arises with the creditors...

...S. 56, 23 L. Ed. 220, U was said: "The capital stock of an incorporated company is a fund set apart for the payment of its debts. It is a substitute for the personal liability which subsists in private copartnerships. When debts are incurred, a contract arises with the creditors...

...insolvency of the company, and before many of the debts to the other creditors were incurred. It is true that the capital stock of a corporation Is a trust fund for the security and payment of creditors, and that stockholders as such cannot withdraw or diminish any part...

...obligation which is founded in no statute, but exists by force of the consideration that the capital-stock of a corporation is a trust fund for the payment of its debts, and upon the happening of the insolvency of the corporation and the exhaustion of its assets, its unpaid...

...statute of limitations." Whereupon plaintiff took this writ. Henninger & Dewalt, for plaintiff in error. The capital stock of a corporation is a trust fund for the benefit of creditors. Магмпдге Sav. Bank v. Bastion, 10 Wkly. Notes Gas. 71; Upton v. Tribilcock,...

...the difference. Upon a rehearing, it seems that this decision was reversed, chiefly on the "ground that the capital stock of a corporation is a trust fund for its creditors, which the corporation cannot diminish to their prejudice." But no such reason obtains...

...all the creditors of the corporation. (Hodges V. Silver Hill Min. Co. 9 Oreg. 200.) But the unpaid stock of a corporation is a trust fund for the payment of the debts of the corporation. (Union Mutual Life Ins. Co. v. Frear Stone Manuf. Co. 97 111. 537; Sawyer...

...is not a statutory 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...

...condition of the affairs of the bank cannot have the talismanic effect of vitalizing the note. The doctrine that the capital stock of a corporation is a trust fund for the payment of its debts — particularly so after its Insolvency — contributed, as an element, to the conclusion declared...

...not to be binding upon 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...