11 Or. 158 | Or. | 1883
By the Court,
The respondent, Hughes, having recovered judgment against the Oregonian Navigation Company (Limited) for $8,800 and costs, in an action at law, instituted this proceeding against the appellant to obtain satisfaction thereof, alleging that it held in its possession a large sum of money belonging to the judgment debtor. The issues were tried by the court, and the findings of fact, upon which the judg
“Incorporated May 14, 1880.
“1,000 shares oí $100 each. No. 6.
“For 499. Portland, Oregon, April 3,1881. Oregonian Navigation Company, (Limited.) This is to certify that the Oregonian Eailway Company (Limited) is the owner and holder of 499 fully paid shares of the capital stock of the Oregonian Navigation Company, (Limited,) transferable only on the books of the company, at its office, in the city of Portland, Oregon, by indorsement hereon and surrender of this certificate. William Eeid, President.
Ellis G. Hughes, Secretary.”
That during all the times mentioned herein, William Eeid
We find no ground for- interfering with the judgment of the Circuit court. After all, the appellant was only a stockholder, and the legal title to the boats and funds realized from their sale was in the corporation, the Oregonian Navigation Company, (Limited.) Nor is the objection to the proceeding at law well taken. It cannot be inferred from the findings that the appellant received this money as a dividend on its shares of stock, and if it did not, it had no greater right to retain it against the judgment creditor than an entire stranger would have. It had no legal title, and simply had possession of funds belonging to the judgment debtor. (Hyatt v. Allen, 56 N. Y., 553; Minot v. Paine, 99 Mass., 101.)
The judgment is affirmed with costs.