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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 357   View pdf image (33K)
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COHEN VS. GWYNN. 357
He will then correct his statement of the claim of the state
of Maryland, according to the treasurer's statement, No. 1,
filed on the 16th instant, and will also credit the judgments
against Green, Welch and Brown, in conformity with the agree-
ment of the counsel, filed on the 22d instant.
The residue of the proceeds of the mortgaged real estate,
after deducting and appropriating to the bank the value of the
contingent dower interest will be applied to the payment of the
claims of the state, founded upon its judgments of October
term, 1836, and April term, 1837, and any balance which may
remain of said proceeds after satisfying those judgments will
be applied to the payment of the judgment of Nicholas J. Wat-
kins, of April term, 1837.
All exceptions at variance with this order are overruled.
[No appeal was taken in this case.]
BOYLE, for the State.
A. RANDALL, for the Farmers Bank.
THOS. S. ALEXANDER, for Defendants.
JACOB I. COHEN ET AL
vs. DECEMBER TERM, 1848.
WILLIAM GWYNN ET AL. J
[TRANSFER OF STOCK—NOTICE.]
THE stockholders of a theatre appointed six persons trustees for its manage-
ment by whom the transfer books were kept, and in 1841, two shares stand-
ing in the name of one of the stockholders was transferred by the firm of
which he was a member to a bona fide purchaser for value without notice,
in whose name they remained until 1848, (he in the mean time having trans-
ferred them to parties who retransferred them to him,) when objection was
made by the other stockholders to the title of such purchaser. HELD—
That the trustees, were the trustees of the stockholders, and if they suffered the
stock to be transferred to a bona fide purchaser without notice, by a person
not having authority to make the transfer, the loss, in a contest between
such purchaser and the stockholders, must fall upon the latter.
A memorandum made on the transfer book after the purchase of the stock by
a bona Jide purchaser, showing the arrangement under which certain of the
stock was transferred, cannot effect such purchaser with notice of this ar-
rangement.
VOL. IV.—80

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 357   View pdf image (33K)
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