State v. Cook.
Citation | 174 Mo. 100,73 S.W. 489 |
Parties | STATE ex rel. JONES et al. v. COOK, Secretary of State. |
Decision Date | 20 March 1903 |
Court | United States State Supreme Court of Missouri |
1. Rev. St. 1899, § 1299, provides that no persons shall engage in the business of private bankers "without a paid-up capital of not less than $5000." Section 1278 provides that incorporated companies shall not engage in the business of banking in cities with a population of 150,000 or more with a less paid-up capital than $100,000, and section 1301 provides that all provisions of the article, so far as the same are applicable, apply to private bankers. Held, that individuals desiring to engage in the business of private banking in a city of over 150,000 inhabitants are not required to have a paid-up capital of over $5,000.
2. Rev. St. 1899, § 1299, declares that no person shall engage in the business of private banking without a paid-up capital of a certain sum, and section 1277 enacts that the Secretary of the State shall, before the banker does business, make an examination to ascertain whether the capital has been paid, and, if he shall find that the law has been complied with, he shall grant a certificate to him showing that the banker is authorized to transact business. Held, that where the proper amount of capital stock has been paid up, it is the duty of the Secretary of State to grant a certificate, notwithstanding the fact that the business is to be conducted in a department store conducted by the banker.
3. The duty of the Secretary of State in the premises being purely ministerial, mandamus lies to compel the Secretary to issue the certificate.
In Banc. Mandamus by the state, on the relation of Lawrence M. Jones and another, to compel Sam B. Cook, as Secretary of State, to grant to relators authority to carry on the business of private banking in Kansas City. Alternative writ made peremptory.
Proceeding by mandamus, on the relation of Lawrence M. and J. Logan Jones, to compel the Secretary of State to grant to them the state's authorization to carry on, as partners, the business of private banking in Kansas City.
The petition of relators, on which the alternative writ herein was issued, states a compliance on their part with all the requirements provided in section 1299, Rev. St. 1899; its request upon the Secretary of State that he make or cause to be made an examination to ascertain if said provision of the law had been complied with on the part of relators, and, if complied with, that he issue to them the state's authorization to engage in said business of private banking; and the refusal of the Secretary so to do.
To the alternative writ issued in obedience to the prayer of relators' petition, respondent filed the following return:
To this return relators replied:
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