94 Ga. 510 | Ga. | 1894
The railway company (which was chartered under the general law) sued Russell upon a promissory note for $500, payable to the plaintiff, as the amount of his subscription to its capital stock. He filed a number of special pleas which were stricken on demurrer. The nature of them is indicated by the head-notes. They set up, in brief: (1) Failure of consideration and fraud in the procurement of the note, in that the vice-president and other general officers of the railroad company came to Bainbridge for the express purpose of inducing the people of Decatur county to take stock in the enterprise, called a meeting of the citizens, and made to them statements which were false; among others, that the money subscribed to the railway company could not be lost to the subscriber, because the railway was to be built by the Alabama Terminal and Improvement Company ; that the subscriber would receive two thirds of his subscription in the common stock of the railway company and one third in the terminal company; that owing to the advantageous terms on which the terminal