The resolution also provided, that all unpaid subscription after the due dates of both calls would be subject to 12 per cent interest per annum. By said resolution, it was agreed upon by the stockholders present to call the balance of all unpaid subscribed capital stock as of July 23, 1946, the first 50 per cent payable within 60 days beginnning August 1, 1946, and the remaining 50 per cent payable within 60 days beginning October 1, 1946. On July 23, 1946, a majority of the stockholders of the corporation, among them the herein defendant, held a meeting and adopted stockholders' resolution No. After incorporation, the defendant made further payments on account of his subscription, leaving a balance of P18,500 unpaid for, which amount, the plaintiff now claims in this action. The defendant, Irineo Baltazar appears to have subscribed for 600 shares on account of which he had paid upon the organization of the corporation the sum of P15,000. The plaintiff, Lingayen Gulf Electric Power Company is a domestic corporation with an authorized capital stock of P300,000 divided into 3,000 shares with a par value of P100 per share. The main facts of the case are not disputed, and we are reproducing and making our own the relation of facts contained in the decision appealed from. By a resolution of that appellate tribunal, the appeal was certified to this court pursuant to section 17, (5) and (6) of the Judiciary Act of 1948, and is now listed here under G.R. Defendant Irineo Baltazar appealed to the Court of Appeals. appealed directly to this court under G.R. From the trial court's decision, plaintiff Lingayen Gulf Electric Power Company, Inc. 10944 of the Court of First Instance of Pangasinan. These two cases here on appeal stem from the same case, that of civil case No. IRINEO BALTAZAR, defendant and appellant. LINGAYEN GULF ELECTRIC POWER COMPANY, INC., plaintiff-appellee, LINGAYEN GULF ELECTRIC POWER COMPANY, INC., plaintiff-appellant,
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