First National Bank v. Illinois Steel Co.
Illinois Supreme Court
Appeal from the Appellate Court for the Second District;—heard in that court on appeal from the Circuit Court of Will county; the Hon. Dorrance Dibell, Judge, presiding. This was a bill in the nature of a creditor’s bill, filed December 26, 1893, by the First National Bank of Joliet, the appellant, against the Ashley Wire Company, a corporation in Joliet, Will county, Illinois, which for many years had been engaged in the manufacture of barbed fence wire, wire nails, étc.
Read the full summary
Appeal from the Appellate Court for the Second District;—heard in that court on appeal from the Circuit Court of Will county; the Hon. Dorrance Dibell, Judge, presiding. This was a bill in the nature of a creditor’s bill, filed December 26, 1893, by the First National Bank of Joliet, the appellant, against the Ashley Wire Company, a corporation in Joliet, Will county, Illinois, which for many years had been engaged in the manufacture of barbed fence wire, wire nails, étc. The bill alleged the recovery of a judgment by said First National Bank of Joliet on the 14th day of December, 1893, for…
1Opinion of the CourtJustice Craig
It is first contended by appellant that the Illinois Steel Company, the mortgagee, having obtained its decree of foreclosure and sale and applied the proceeds, the mortgage has accomplished its purpose and is functus oficio,—that no further rights or equities can be enforced by the Illinois Steel Company. The claim of appellee is, that the provision in the mortgage authorized the appointment of a receiver by the court to collect the rents and profits during the period of redemption, and, as the sale under the foreclosure decree did not pay the debt, to apply them in payment of the deficiency.
¡…
2Cases cited5 opinions
- Haas v. Chicago Building SocietyIllinois Supreme Court · 1878
- Armstrong v. CooperIllinois Supreme Court · 1850
- Seligman v. LaubheimerIllinois Supreme Court · 1871
- Smith v. KimballIllinois Supreme Court · 1889
- Oakford v. RobinsonAppellate Court of Illinois · 1892
3Cited by61 opinions
- Carolina Portland Cement Co. v. BaumgartnerSupreme Court of Florida · 1930
- In the Matter of Wheaton Oaks Office Partners Limited Partnership, Debtor-AppellantCourt of Appeals for the Seventh Circuit · 1994
- Bagley v. Illinois Trust & Savings BankIllinois Supreme Court · 1902
- In Re WakeyCourt of Appeals for the Seventh Circuit · 1931
- Owsley v. NeevesAppellate Court of Illinois · 1913
56 more not listed; retrieve them via the Exa API.