127 Mich. 338 | Mich. | 1901
The Ferguson Hardware Company did business in Sault Ste. Marie for many years. In 1896 it was succeeded by the Ferguson Hardware Company, Limited. The property replevied was originally purchased by the Ferguson Hardware Company, Limited, in the usual course of its business. Subsequently, and in 1898, it gave a chattel mortgage upon the same to George E. C. Seaman, as trustee for its creditors, and in April, 1899, he
The findings of fact show the foregoing facts, and, further, that Chesbrough and Church’ organized the Ferguson Hardware Company, Limited. In April, 1899, Chesbrough, who had acquired the interest of Church in the Ferguson Hardware Company, Limited, caused the trust mortgage to be foreclosed. The principal owners of the stock of these companies were Chesbrough and Church, some others, holding small interests, being associated with them; but there have at all times been some stockholders of the plaintiff company who were not stockholders in the Ferguson Company. Chesbrough had no ownership of any of this property, except such as the ownership of his shares of stock gave him.