Glazier v. Jacobs
Glazier v. Jacobs
Opinion of the Court
Opinion by
A writ of attachment execution issued out of the Common Pleas of Huntingdon County directing the attachment of the “goods and chattels, debts, rights, credits, stocks, bonds, and all shares of the capital stock of the Broad Top Coal & Mineral Company, and moneys of R. W. Jacobs,” in satisfaction of a certain judgment recovered in said court against the said R. W. Jacobs for the sum of $10,000.00, with interest from 6th July, 1910, and costs. The writ contained the usual summons to the defendant in the judgment and the Broad Top Coal & Mineral Company, garnishee, to show cause why the said judgment should not be levied of the effects of said Jacobs in the hands of the said coal and mineral company, and was served 6th January, 1912. On 30th January, 1913, interrogatories were filed by the appellant here, to whom as assignee in trust for the creditors of the Huntingdon Bank the right in the judgment had passed. On the 17th February, 1913, the garnishee filed an answer in which it was admitted that at the time the writ was served R. W. Jacobs was the holder of 1,025 shares of the capital stock of the company, and that certificates for this number of shares had been issued in his name and were then outstanding. By supplemental answer filed 13th June, 1913, the garnishee further admitted that since the writ was served the garnishee had paid in cash to Jacobs $910.31 to reimburse him for money advanced by him at different times as an official of the company to pay current expenses of the company.
But now as to the judgment rendered on the verdict. As recorded it reads, “Now, September 18,1914, James S. Woods, Esq., pays the jury fee, and judgment is entered on the verdict. Cash in hand $910.31, 605 shares of stock at $2.00, $1,210. Total $2,120.31. Judgment, interest from May 20, 1914.” To the extent of $910.31 this judgment is correct, though the form in which it was returned as part of the verdict hardly conforms to legal
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- Practice, C. P. — Attachment execution — Garnishee—Debt accruing after service of writ — Capital stock — Judgment—Irregular judgment. 1. A writ of attachment execution duly served upon a garnishee will bind debts owing by the garnishee to the defendant, accruing after the service of the writ and prior to the filing of answers to interrogatories. 2. Where a garnishee in its answers to interrogatories admits that the defendant held a certain number of shares of stock in the garnishee company, which shares were then outstanding, the process issued arrests the stock in the hands of the garnishee to await levy and execution by the plaintiff, but a money judgment may not be entered for the value of the stock. The purpose of such process is only to clear the way for a subsequent fi. fa., by settling and determining in advance, whether the judgment debtor is in fact the real owner of the stock, or what his interest therein is, and whether the stock is subject to a charge of lien upon the title. 3. A writ of attachment issued out of a Common Pleas Court against defendants, summoned a coal and mineral company as garnishee. In its answers to interrogatories, the garnishee admitted that the defendant was the holder of certain shares of stock of the company and that certificates for such shares had been issued in his name and were still outstanding, and by supplemental answer admitted that since the service of the writ the garnishee had paid in cash to the judgment debtor $910.31, to reimburse him for money advanced at different times subséquent to the attachment, as an official of the company, to pay current expenses. After trial the attachment was sustained as to the cash paid by the garnishee, and as to 650 shares of the garnishee’s stock, which was found to be of the value of $2 a share, and judgment was entered against the garnishee for $910.31, and for the value of the stock $1,210. Held, the judgment was correct as to $910.31, but erroneous as to $1,210, and was modified so as to give the plaintiff a money judgment of $910.31, with the right to proceed to sell such of the shares of stock as might be necessary to satisfy his judgment against defendant.