Turnbull v. Payson
95 U.S. 418 (1877)

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U.S. Supreme Court

Turnbull v. Payson, 95 U.S. 418 (1877)

Turnbull v. Payson

95 U.S. 418

Syllabus

1. The court again decides that where a corporation is adjudged a bankrupt, the proper district court of the United States, in order to provide means for the payment of the debts of the corporation, may direct an assessment upon the unpaid balance due on stock held by the several stockholders.

2. A person is presumed to be the owner of stock when his name appears on the books of a company as a stockholder, and when he is sued as such, the burden of disproving that presumption is cast upon him.

3. The record of a district court of the United States is not within the Act of Congress approved May 29, 1790, 1 Stat. 122, prescribing the mode in which the records and judicial proceedings of the state courts shall be authenticated, but is, when duly certified by the clerk under its seal, admissible as evidence in every other court of the United States.

The facts are stated in the opinion of the Court.

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