Case ID: ill-app_184/html/0433-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Presiding Justice Graves", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Dudley A. Tyng, Appellee, v. United Mercantile Agency et al., Appellants.
    Gen. No. 18,376.
    (Not to be reported in full.)
    Abstract of the Decision.
    1. Corporations, § 71
      
      —when by-law governing transfer of certificates of stock not unreasonable. A by-law of a corporation requiring shares of the capital stock to be transferred by indorsement of the certificates to the secretary for cancellation, whereupon new certificates are to be issued to the transferee or to his written order, held not unreasonable.
    2. Corporations, § 156
      
      —when mandamus issues to compel transfer of stock on book of company. Before the transfer of capital stock in a corporation will be compelled by mandamus, every reasonable requirement of the by-laws must be shown to have been complied with.
    3. Mandamus, § 98
      
      —when issuance to compel transfer of shares of stock is error. Awarding a writ of mandamus to compel a corporation and its officers to transfer shares of capital stock on the books of the corporation, held error where petitioner failed to show compliance with a by-law requiring the certificate to be assigned to the secretary of the corporation.
    
      Appeal from the Superior Court of Cook county; the Hon. William Fenimore Cooper, Judge, presiding.
    Heard in the Branch Appellate Court at the March term, 1912.
    Reversed and remanded with directions.
    Opinion filed December 31, 1913.
    Statement of the Case.
    Petition by Dudley A. Tyng against United Mercantile Agency, a corporation, P. H. Early, president, and E. E. Hughes, secretary, for a writ of mandamus to compel defendants to transfer certain shares of capital stock on the books of the corporation. From a judgment awarding the writ, defendants appeal.
    Arthur O. Hoffmann, for appellants.
    Matthias B. Pittman, for appellee.
    
      
      See Illinois Notes Digest, Vols. XI to XV, same topic and section number.
    
   Mr. Presiding Justice Graves

delivered the opinion of the court.