<p>Successive Failures to File Annual Reports by Trustees of Manufacturing Corporation.—Statute of Limitations.—Pleadings.</p> <p>If the trustees of a manufacturing corporation fail, during successive years, to file the annual report required by statute, the right of action is barred by the statute of limitations when three years have elapsed since the first default, and the continuance of the default does not create a new liability.</p> <p>It is not necessary, in order to render this rule applicable, that it appear expressly from the pleading that the same persons were trustees during the several years, if enough is stated to raise an implication that they were.</p>
¶1[After stating that the case was governed by the decision in Losee v. Bullard, 79 N. Y. 404, and that Nimmins v. Tappan, 2 Sweeny, 652, so far as it holds differently, must be deemed overruled.)*—Although it does not in words appear that the trustees, in office when the default in 1874 occurred, continued still to hold office, as such, during the subsequent years, and until 1877, yet there is enough stated to raise the implication that they were the same. That being so, their liability was fully fixed by the failure to file a report in 1874, when the debt existed.
¶2I do not consider the subsequent case in the court of appeals (Duckworth v. Roach,ϯ not yet reported, but a memorandum of which has been handed up) as disturbing the rule laid down in Losee v. Bullard. In this latter case the omission to file reports in previous years did not, as it does here, appear by the pleadings.
¶3This disposition of the second ground of demurrer adversely to the plaintiff, as it upholds the plea of the statute of limitations which is an answer to the action, *277renders ifc unnecessary to consider the other ground of demurrer.
¶4There should be judgment for the defendant on the demurrer, with costs.
¶5 But see Anderson v. Speers, 8 Abb. New Cas. 382.
