German National Bank v. Young
Supreme Court of Arkansas
Appeal from Sebastian Chancery Court; J. V. Bourland, Chancellor; STATEMENT BY THE COURT. In April, 1909, the Hiawatha Smokeless Coal Company, operating a coal mine in Scott County, was by the chancery court on the application of some of its stockholders, the company being insolvent, placed in the hands of a receiver to be wound up and its assets distributed.
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Appeal from Sebastian Chancery Court; J. V. Bourland, Chancellor; STATEMENT BY THE COURT. In April, 1909, the Hiawatha Smokeless Coal Company, operating a coal mine in Scott County, was by the chancery court on the application of some of its stockholders, the company being insolvent, placed in the hands of a receiver to be wound up and its assets distributed. The complaint prayed that the same be managed under the orders and direction of the court, and that the receiver be ordered to borrow as much money as was necessary to protect the property; and one June 21, R. A. Young was appointed…
1Opinion of the Court
Kirby, J.,
(after stating the facts). This appeal is from a decree overruling exceptions to a report of a receiver and ordering distribution of assets in his hands.
The first contention noted is the allowance of $2,-034.65 to ithe receiver as expenses, which was in fact moneys used directly by the receiver as follows:
“December 21, 1909, a check for $1,700 used to pay off his personal note. Another check is on April 25,1910, for the same purpose for $636.37. Another for $413.21. He purchased for himself one mule at the mine, agreeing to pay therefor $100, and from this amount, $2,849.58, it was…
2Cases cited1 opinion
- Buster v. MannSupreme Court of Arkansas · 1900
3Cited by2 opinions
- Twist v. GraySupreme Court of Arkansas · 1941
- First National Bank v. MyersSupreme Court of Arkansas · 1935