Thomas Jones, Respondent v. Samuel L. M. Barlow, Appellants

Summary

The Court held that trustees of a corporation organized under the General Manufacturing Act are liable only for debts actually due at the time an action is commenced and that the statute of limitations for such actions runs from the accrual of the cause of action, not from the failure to file the required report. Accordingly, the judgment against the trustees was reversed and the case remanded for a new trial, with a possible reduction of the recovery to the amount due at the filing of the action. Justice Folger dissented, arguing that the filing requirement should not excuse the trustees' liability.