KFLCC Kingdom Law 2nd Ed.

167

CAPITA

OAPITALIS

Mm upon his false plea, and the jury were troubled with the trial of it. Oro. Jac. 64.

government; the place where the legislative department holds its sessions, and where the chief offices of the executive are located. Affecting or relating to the head or life of a person; entailing the ultimate penalty. Thus, a capital crime is one punishable with death. Walker v. State, 28 Tex. App. 503, 13 S. W. 860; Ex parte McCrary, 22 Ala. 72; Ex parte Dusenberry, 97 Mo. 504,11 S. W. 217. Capital punishment is the punishment of death. Also principal; leading; chief; as "cap ital burgess." 10 Mod. 100. The common stock or fund of a corporation. The sum of money raised by the subscriptions of the stockhold ers, and divided into shares. It is said to be the sum upon which calls may be made upon the stockholders, and dividends are to be paid. Christensen v. Eno, 106 N. Y. 97, 12 N. E. 648, 60 Am. Rep. 429; People v. Com'rs, 23 N. Y 219; State v. Jones, 51 Ohio St. 492, 37 N. E. 945; Burrall v. Railroad Co., 75 N. Y. 216. Originally "the capital stock of the bank" was all the property of every kind, everything, which the bank possessed. And this "capital stock," all of it, in reality belonged t6 the contributors, it being intrusted to the bank to be used and traded with for their exclusive benefit; and thus the bank became the agent of the contributors, so that the transmutation of the money orig inally advanced by the subscribers into property of other kinds, though it altered the form of the investment, left its beneficial ownership unaf fected ; and every new acquisition of property, by exchange or otherwise, was an acquisition for the original subscribers or their representa tives, their respective interests in it all always continuing in the same proportion as in the ag gregate capital originally advanced. So that, whether in the form of money, bills of exchange, or any other property in possession or in ac tion into which the money originally contributed has been changed, or which it has produced, all is, as the original contribution was, the capital stock of the bank, held, as the original contribu tion was, for the exclusive benefit of the orig inal contributors and those who represent them. The original contributors and those who repre sent them are the stockholders. New Haven v. City Bank, 31 Conn. 109. Capital stock, as employed in acts of incorporation, is never used to indicate the value of the property of the com pany. It is very generally, if not universally, used to designate the amount of capital prescrib ed to be contributed at the outset by the stock holders, for the purposes of the corporation. The value of the corporate assets may be greatly increased by surplus profits, or be diminished by losses, but the amount of the capital stock re mains the same. The funds of the company may fluctuate; its capital stock remains invari able, unless changed by legislative authority. Canfield v. Fire Ass'n, 23 N. J. Daw, 195. CAPITAL, adj. CAPITAI, STOCK.

CAPITA. Heads, and, figuratively, en tire bodies, whether of persons or animals. Spelman. Persons individually considered, without relation to others, (polls;) as distinguished from stirpes or stocks of descent. The term in this sense, making part of the common phrases, in capita, per capita, is derived from the civil law. Inst. 3, 1, 6. — Capita, per. By heads; by the poll; as individuals. In the distribution of an intestate's personalty, the persons legally entitled to take are said to take per capita when they claim, each in his own right, as in equal degree of kin dred ; in contradistinction to claiming by right of representation, or per stirpes. CAPITAL, n. In political economy, that portion of the produce of industry existing in a country, which may be made directly available, either for the support of human existence, or the facilitating of production; but, in commerce, and as applied to individ uals, it is understood to mean the sum of money which a merchant, banker, or trader adventures in 'any undertaking, or which he contributes to the common stock of a part nership. Also the fund of a trading com pany or corporation, in which sense the word "stock" is generally added to it. Pearce v. Augusta, 37 Ga. 599; People v. Feitner, 56 App. Div.'280, 67 N. Y. Supp 893; Webb v. Armistead (C. C.) 26 Fed. 70. The actual estate, whether in money or property, which is owned by an individual or a corporation. In reference to a corporation, it is the aggregate of the sum subscribed and paid in, or secured to be paid in, by the shareholders, with the addition of all gains or profits realized in the use and investment of those sums, or, if losses have been in curred, then it is the residue after deducting such losses. See CAPITAL STOCK. When used with respect to the property of a corporation or association, the term has a set tled meaning. It applies only to the property or means contributed by the stockholders as the fund or basis for the business or enterprise for which the corporation or association was form ed. As to them the term does not embrace tem porary loans, though the moneys borrowed be directly appropriated in their business or under takings. And, when used with respect to the property of individuals in any particular busi ness, the term has substantially the same im port ; it then means the property taken from other investments o* uses and set apart for and invested in the special business, and in the in crease, proceeds, or earnings of which property beyond expenditures incurred in its use consist the profits made in the business. It does not, any more than when used with respect to corpo rations, embrace temporary loans made in the regular course of business. Bailey v. Clark, 21 Wall. 286, 22 L. Ed. 651. The principal sum of a fund of money; money invested at interest. Also the political and governmental me tropolis of a state or country; the seat of

CAPITATE.

A thing which is stolen, or

the value of it. Blount.

CAPITALE

VrVENS.

Live

cattle.

Blount.

CAPITALIS.

In old English law. Chief,

principal; at the head.

A term applied to