Blacks Law Dict. 1st ed

STOUTHRIEFF

1126

STOCK

STOCK-NOTE. The term "stock-note" has no technical meaning, and may as well apply to a note given on the sale of stock which the bank had purchased or taken in the payment of doubtful debts as to a note given on account of an original subscription to stock. 12 111. 402. STOCKHOLDER. A person who owns shares of stock in a corporation or joint-stock company. The owners of shares in a corporation which has a capital stock are called "stock holders." If a corporation has no capital stock, the corporators and their successors are called "members." Civil Code Dak. § 392. STOCKS. A machine consisting of two pieces of timber, arranged to be fastened to gether, and holding fast the legs of a person placed in it. This was an ancient method of punishment. STOP ORDER. The name of an order grantable in English chancery practice, to prevent drawing out a fund in court to the prejudice of an assignee or lienholder. STOPPAGE. In the civil law. Compen sation or set-off. STOPPAGE IN TRANSITU. The act by which the unpaid vendor of goods stops their progress and resumes possession of them, while they are in course of transit from him to the purchaser, and not yet actually deliv ered to the latter. The right of stoppage in transitu is that which the vendor has, when he sells goods on credit to another, of resuming the possession of the goods while they are in the possession of a carrier or middle-man, in the transit to the consignee or ven dee, and before they arrive into his actual posses sion, or the destination he has appointed for them on his becoming bankrupt and insolvent. 2 Kent. Comm. 702. Stoppage in transitu is the right which arises to an unpaid vendor to resume the possession, with which he has parted, of goods sold upon credit, before they come into the possession of a buyer who has become insolvent, bankrupt, or pe cuniarily embarrassed. 57 N. H. 454. STORE. Storing is the keeping morchan dise for safe custody, to be delivered in the same condition as when received, where the safe-keeping is the principal object of depos it, and not the consumption or sale. 3 N. Y. 122; 16 Barb. 119. STORES. The supplies of different arti cles provided for the subsistence and accom modation of a ship's crew and passengers. STOUTHRIEFF. In Scotch law. For merly this woid included every species of

in opposition to taking in one's own right, or as a principal, which is termed "taking per capita. " STOCK. In mercantile law. The goods and wares of a merchant or trades man, kept for sale and traffic. In a larger sense. The capital of a merchant or other person, including his mer chandise, money, and credits, or, in other words, the entire property employed in busi ness. 2 Wis. 42, 56, 57. In corporation law. A right to partake, according to the amount of the party's sub scription, of the surplus profits obtained from the use and disposal of the capital stock of the company. Ang. & A. Corp. § 557. The capital stock of a corporation is that money or property which is put into a fund by those who by subscription therefor be come members of the corporate body. 75 1ST. Y. 216. When the word "stock," as used in reference to a corporation, means anything else than the cap ital of the company, it cannot refer to anything else than the interests of the shareholders or indi viduals. Such interests are called "stock;" and the sum total of them is appropriately enough called the "stock" of a corporation. 23 N. Y. 192, 220. The funded indebtedness of a state or gov ernment, also, is often represented by stocks, shares of which are held by its creditors at interest. In the law of descent. The term is used, metaphorically, to denote the original progenitor of a family, or the ancestor from whom the persons in question are all descend ed; such descendants being called "branch es. " STOCK ASSOCIATION. A joint-stock company, (q. «.) STOCK-BROKER. One who buys and sells stock as the agent of others. STOCK-EXCHANGE. A voluntary as sociation of persons (not usually a corpora tion) who, for convenience in the transaction of business with each other, have associated themselves to provide a common place for the tiansaction of their business; an association of stock-brokers. Dos Passos, Stock-Brok. 14. The building or room used by an associa tion of stock-brokers for meeting for the transaction of their common business. STOCK-JOBBER. A dealer in stock; one who buys and sells stock on his own ac count on speculation.

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