Stephenson v. Parker Stationery Co.

43 S.W. 380, 142 Mo. 13, 1897 Mo. LEXIS 368
CourtSupreme Court of Missouri
DecidedDecember 7, 1897
StatusPublished
Cited by2 cases

This text of 43 S.W. 380 (Stephenson v. Parker Stationery Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Stephenson v. Parker Stationery Co., 43 S.W. 380, 142 Mo. 13, 1897 Mo. LEXIS 368 (Mo. 1897).

Opinion

Robinson, J.

At this suit of the plaintiff Lloyd B. Stephenson a writ of attachment was issued against the Parker Stationery Company, a corporation, and all of its goods, effects and accounts and evidences of debt, [16]*16etc., were levied upon by the sheriff. Plaintiff’s claim was for $9,619.26, evidenced by fifteen notes and a small account of $50 for money loaned. Subsequently the Third National Bank of St. Louis filed its action in the same court against the same defendant, on an indebtedness aggregating $8,174.79, and caused a levy to be made upon the same property levied upon by the plaintiff Stephenson. The property so levied upon was sold by the sheriff for the sum of $7,216. The cost of sale and labor claims allowed amounted to $481.52, leaving to apply on the attachments a balance of $6,734.48. Afterward, on the twenty-third day of January, 1895, the Third National Bank filed in the case of Lloyd B. Stephenson against the Parker Stationery Company the following notice to postpone Stephenson’s attachment to the extent of $4,500 in favor of the bank:

“Now comes the Third National Bank of Saint Louis, a corporation duly organized and existing according to law, and represents to this court that heretofore, to wit, on the 31st day of December, 1894, it commenced in this court a certain action against the defendant herein, the Parker Stationery Company, for the recovery of a large amount of money, to wit, $8,174.79, which action is numbered 172, to the February term, 1895, and in said action caused a writ of attachment to issue, which was duly levied upon the goods, wares, merchandise and chattels and property of the said defendant; that said levy was made upon the same goods, wares, merchandise, chattels and property that had prior thereto been attached in this action by this plaintiff, L. B. Stephenson, and the said Third National Bank now moves the court that the court inquire into the priority, validity, good faith, force and effect of said attachment in this cause, and that such attachment and the lien thereof to the extent [17]*17of forty-five hundred dollars be postponed in favor of said Third National Bank and for grounds of this its motion alleges:
“1- That heretofore, to wit, on the 10th day of March, 1894, the said L. B. Stephenson represented to this plaintiff that he, the said Stephenson, was about to become a stockholder in the Parker Stationery Company, and was about to pay into the capital stock of said Company the sum of forty-five hundred dollars for which the said. corporation would issue to him shares of stock to that amount, and was about to become treasurer of said company.
“2. That at the same time said J. A. Parker and E. S. Parker concurred with said Stephenson in the foregoing representations, and likewise represented that said Stephenson was about to become a stockholder and pay into the capital stock of said Parker Stationery Company the sum of forty-five hundred dollars and become treasurer thereof.
“3. That J. A. Parker is, and was at the time aforesaid, president, and E. S. Parker, secretary and treasurer, of said corporation, and were the holders and owners of nearly the entire capital stock of said corporation.
“4. That said representations were made with the express purpose and intent of obtaining from this plaintiff the loan of a large sum of money, to wit, seventy-six hundred and ninety dollars and twenty-one cents ($7,690.21).
“5. That this plaintiff relied upon such representations, and in consequence thereof renewed a certain loan then due from said corporation to the plaintiff to the amount of seventy-six hundred and ninety dollars ■ and twenty-one cents, and received from said corporation the two notes described in the first and second [18]*18counts of this, plaintiff’s amended petition, as evidence of such renewal.
“6. That said Stephenson, in fulfillment of said representations, did pay into the capital stock of said corporation the sum of forty-five hundred dollars, and became treasurer of said corporation and remained such until November, 1894.
“7. That a large part of the alleged indebtedness of said corporation to said Stephenson, to wit, forty-five hundred dollars, consists of this sum so paid into the capital stock of said corporation.
“8. That said corporation does not owe said Stephenson the full amount in said Stephenson’s petition alleged, but forty-five hundred dollars less than therein alleged.
“9. That said Stephenson, with intent to hinder, delay and defraud this plaintiff and other creditors of. said corporation, procured certain promissory notes, payable on demand, to represent said forty-five hundred dollars, with the purpose and intent of fraudulently exercising the rights of a creditor of said corporation as to the said forty-five hundred dollars.”

On April 8, following, the plaintiff Stephenson obtained judgment against the Parker Stationery Company for the aggregate sum of $9,989.14, and the defendant having failed to file a plea in abatement, judgment on the same day was rendered for plaintiff on the attachment.

On May 4, .1895, when the bank’s motion came up for hearing, the counsel for the plaintiff Stephenson objected to the introduction of any testimony to sustain any but the eighth and ninth specifications of the motion, for the reason that if true they would not authorize the postponement of plaintiff’s claim or any part thereof in favor of the bank. The objection was overruled. No testimony, however, was offered that [19]*19proved or tended to prove the allegations of specifications 8 and 9 of the motion. ' Nothing was shown that proved or tended to prove that as between Stephenson and the stationery company the claim sued upon and that was afterward reduced to judgment was for more than it should have been, that the stationery company did not in fact owe to Stephenson the amount indicated by the judgment, but the bank by this proceeding seeks to have postponed Stephenson’s prior attachment to the amount of $4,500 to its judgment, on account of a conversation that took place just a few days prior to the tenth of March, 1894, between the president of the bank, Stephenson, and one of the Parker brothers, who owned the principal part of the stock of the stationery company, which it is alleged resulted to the detriment of the bank in the collection of its claims, on account of the extension which it was induced to give to the stationery company on its notes that were then about due. The president of the bank testified that a few days prior to March 10, 1894, Mr. Stephenson and one of the Parker brothers came into his bank, and while there Mr.

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Bluebook (online)
43 S.W. 380, 142 Mo. 13, 1897 Mo. LEXIS 368, Counsel Stack Legal Research, https://law.counselstack.com/opinion/stephenson-v-parker-stationery-co-mo-1897.