Smith v. Baltimore & Ohio Railroad

11 Ohio N.P. (n.s.) 65
CourtLicking County Court of Common Pleas
DecidedJuly 1, 1909
StatusPublished

This text of 11 Ohio N.P. (n.s.) 65 (Smith v. Baltimore & Ohio Railroad) is published on Counsel Stack Legal Research, covering Licking County Court of Common Pleas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Smith v. Baltimore & Ohio Railroad, 11 Ohio N.P. (n.s.) 65 (Ohio Super. Ct. 1909).

Opinion

Wickham, J.

The amended and supplemental petition in this case recites the following facts:

“The said plaintiffs in this amended and supplemental petition say, for cause of action, that on or about the 22d day of December, A. D. 1881, the said, plaintiffs, James H. Smith, by his attorneys, the plaintiffs, George B. Smythe and Jerome Buckingham, began a civil action in said court on behalf of himself and others, as creditors of the Newark, Somerset & Straitsville Railroad - Company, then an insolvent corporation, organized uiider the laws of Ohio, against said insolvent company and the Railroad Company, then an insolvent corporation, organized holders of the said insolvent company, to establish the validity of certain promissory notes made by said insolvent corapany and [66]*66owned by said Smith, and to enforce the ratable statutory liability of" the stockholders, for the payment thereof.
“That at a term of said court of September, 1892, in said action the said James IT. Smith recovered a judgment against the said The Baltimore & Ohio Railroad Company, as such a stockholder, upon .the- claim aforesaid, for the sum of one hundred and fifty-three thousand, five hundred and forty-six dollars and fifty-nine cents; that thereupon said last named company gave notice of its intention to appeal from sai.d judgment to the circuit court of said county, which notice was at the same- time' duly entered upon the journal 'of said first named-court; that afterwards, on the 18th day of Novémber, A. D. 1892, and within thirty days from the rising of said first named court at said term, the said, the Baltimore & Ohio Railroad Company,: and the defendants, Orland Smith, James H. Collins, John C. Larwill, David Lee, Charles IT. Kibler and James Herdman as its sureties, in order to perfect the said appeal, gave to said James. H. Smith an undertaking signed and sealed by them, of which the following is a copy, to-wit:
,.“ ‘Know All Men By These Presents, That the Baltimore & Ohio Railroad Company, and Orland Smith, John C. Larwill, David Lee, Charles IT. Kibler, J. IT. Collins, James Herdman are held and firmly bound unto James IT. Smith in the penal sum of three hundred and seven thousand and ninety-three and 18-100 dollars, to the payment of which well and truly to be made, the said Baltimore & Ohio Railroad Company and the above other obligors do hereby jointly and severally bind itself and ourselves, our heirs, successors, executors and administrators. Signed by. the Baltimore & Ohio Railroad Company, by Thomas M: King, its vice-president, and attested by its corporate seal and signed by us and -dated this seventh day of November, A. D. 1892. ...
‘The condition of the above obligation is such that, whereas the said the Baltimore & Ohio Railroad Company has taken an appeal from a certain decree or judgment rendered against, it in the above entitled action, (which title is, James H. Smith v. the Newark, Somerset & Straitsville Railroad Company, and others, defendants, in the court of common pleas) in favor of' the said James II. Smith, in the court of common pleas within and for the county of Licking, in the. state of Ohio, at the Sep'.tember term, A. D. 1892,'•for the sum of one hundred and fifty-three thousand five hundred and forty-six 59-100. dollars, to the circuit court within and for the county aforesaid. Now, if the said, the Baltimore & Ohio. Railroad .Company shall abide and perform the order and judgment of said circuit court, and shall [67]*67pay all moneys, costs and damages which may be required, of, or awarded against it by said circuit court, then this obligation to-be void, otherwise to remain in full force and virtue in law [a-copy of which undertaking is hereto attached]. ’
‘ ‘ That the said undertaking was filed in said court of' common' pleas and it and the sureties thereon accepted by the clerk -there-' of on said eighteenth day of November, A. D. 1892. ■
“The plaintiffs herein further say, that on or shortly before the said 22d day of December, 1881, being the time when the said original action'was begun, the said George B. Smythe and Buckingham were attorneys at law, practicing as such' in the1; courts of Ohio, and it -was then agreed by and between.them and said James IT. Smith that the said Symthe and Buckingham, as attorneys for said Smith, should begin an action for him, and. such other creditors of said insolvent corporation as might par-', ticipate therein in said court of common pleas, for the purposes hereinbefore stated (being the action also hereinbefore first mentioned), and prosecute the same, in that court and other courts to which it might be taken, to final judgment and -collection, and that said Smythe and Buckingham should have, for compensation for their said services, three-tenths of the amount collected on said notes, one-half of it to -belong to said Smythe and the other half to said Buckingham; and, for the purpose' of carrying the said agreement into effect, the said Smith then delivered the said promissory notes to said Smythe and Buckingham, who ever since then have had possession thereof; that pursuant to said agreement the said action was begun and prosecuted as hereinbefore stated, the said Smythe and - Buckingham conducting the same as the only attorneys for said Smith, except as to the aid of the said Jones as here stated, namely: that on or about .the 18th day of June, 1891, it was agreed between the said Smith and Smythe, Buckingham and Jones, that said Jones should be employed to assist as an attorney for Smith in the, further prosecution of said action, and should have for his com-' pensation a reasonable sum to 'be paid one-half from the share. of said Smythe and one-half from that of said Buckingham, and the said claims of said Smith, and the money so to be collected thereon, were then again pledged and assigned to said Smythe, Buckingham and Jones to secure to them said three-tenths as aforesaid, and by reason of said matters they became and ever since have' been the owners of said claims and money to the extent of their said compensation, and in equity have an ownership and lien prior and superior to any claim, interest, lien-or right of any'of the said defendants herein.
[68]*68■“Plaintiffs further say that on or about the sixteenth day of July, 1896, it was agreed between said Smythe, Buckingham and Jones that the compensation of the said Jones should be three thousand dollars, one-half to be paid out of the share of Smythe, and one-half out of the share of said Buckingham, and at the same time said Smythe assigned to said Jones his interest and title in said three-tenths to the amount of fifteen hundred-dollars.”

The petition recites that certain assignments were made, and proceeds as follows:

‘ “That said assignments made to said Shawnee Valley Coal & Iron Company, John C. Hamilton, Jay O. Moss, were so made to secure pre-existing debts, and were without any valuable consideration paid or received for them. The said Shawnee Valley Co. and the Franklin Bank Co. are corporations organized under the laws of Ohio, having their chief offices in said Licking county, and the Moss National Bank is a corporation under, the laws of the United States, having its place of business in Erie county, Ohio.

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Cite This Page — Counsel Stack

Bluebook (online)
11 Ohio N.P. (n.s.) 65, Counsel Stack Legal Research, https://law.counselstack.com/opinion/smith-v-baltimore-ohio-railroad-ohctcompllickin-1909.