William R. Day

“ So in this case, notwithstanding the answer of the defendants justifying as agents of the Pioneer Iron Company, the bill made neither the company nor any agent of it as such a party to the proceedings. The mere fact that the claim is made that the Pioneer Iron Company will be concluded can have no effect upon it so long as it has not submitted its rights to adjudication by voluntary proceedings on its part, or been brought into court by proper process. It is true the defendants claim the charter of the company has been renewed, and that it is still a going corporation. ”

“ It is fundamental that no person can be deprived of property rights by any decree in a case wherein he is not a party. Not being made a party to the suit, the rights of the Pioneer Iron Company cannot be affected in any way by the decision of the court. ”

“ A constitutional amendment was adopted in 1889, authorizing the legislature to provide by general laws for one or more extensions of the term of such corporations, and also for the reorganization 'for a further period, not exceeding thirty years, of such corporations whose terms have expired by limitation, on the consent of not less than four fifths of the capital.' Pursuant to this authority the legislature in 1889 passed an act authorizing such reorganization. ”