New York Supreme Court October 15, 1841 (Herkimer Manufacturing & Hydraulic Co. v. Small)

By the Court,

Cowen, J.

The principle of this plea was considered, 21 Wendell, 273, on demurrer to a general plea of the forfeiture. We there treated the two subscriptions as making but one debt of $2100, which, under the provisions of the act of incorporation, was paid so far as the *129cash value of the stock would reach towards the debts subscribed and the interest.