Quincy, Missouri & Pacific Railroad v. Humphreys
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES- FOR THE EASTERN DISTRICT OF MISSOURI. The court stated the case as follows : The Quincy, Missouri and Pacific Railroad Company of Missouri owned in 1879 about seventy-seven miles of road extending westward from West Quincy towards the Missouri River; had issued mortgage bonds to the amount of two million dollars; and owed, in addition to the principal of said bonds, a large amount of overdue interest accrued thereon.
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES- FOR THE EASTERN DISTRICT OF MISSOURI. The court stated the case as follows : The Quincy, Missouri and Pacific Railroad Company of Missouri owned in 1879 about seventy-seven miles of road extending westward from West Quincy towards the Missouri River; had issued mortgage bonds to the amount of two million dollars; and owed, in addition to the principal of said bonds, a large amount of overdue interest accrued thereon. By an indenture made August 21, 1879, the railroad of this company ivas leased to .the Wabash Railway Company for a period of…
1Opinion of the CourtChief Justice Fuller
delivered the opinion of the court..
When the receivers were appointed, the Wabash Company-consisted of a system controlling some thirty-six hundred miles' of road, made up by the consolidation and leasing of many different railroads, upon nearly every one of which, there existed one or more mortgages. The company was insolvent, its- preferential indebtedness amounted to nearly four and one-half millions, its credit' was gone, and many parts of the property were in a wretched condition. The bill was obviously framed upon the theory that an insolvent railroad cor-' poration has a standing in a,…
2Cases cited16 opinions
- Fosdick v. SchallSupreme Court of the United States · 1879
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- Booth v. ClarkSupreme Court of the United States · 1855
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Miltenberger v. Logansport Railway Co.Supreme Court of the United States · 1882
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3Cited by128 opinions
- Re Metropolitan Railway ReceivershipSupreme Court of the United States · 1908
- Pennsylvania Steel Co. v. New York City Ry. Co.Court of Appeals for the Second Circuit · 1912
- United States Trust Co. v. Wabash Western Railway Co.Supreme Court of the United States · 1893
- Great Western Mining & Manufacturing Co. v. HarrisSupreme Court of the United States · 1905
- First Nat. Bank of Cincinnati v. FlershemSupreme Court of the United States · 1934
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