Union Trust Co. v. Detroit & River St. Clair Railway
Michigan Supreme Court
Cross-appeals from St. Clair; Vance, J. Bill by the Union Trust Company against the Detroit & River St. Clair Railway, impleaded with Henry J. Robeson, to foreclose a trust mortgage. From the decree rendered, both parties appeal. The bill in this case was filed to foreclose a trust mortgage, of "which the complainant was trustee. The mortgage was executed by the Detroit & River St. Clair Railway.
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Cross-appeals from St. Clair; Vance, J. Bill by the Union Trust Company against the Detroit & River St. Clair Railway, impleaded with Henry J. Robeson, to foreclose a trust mortgage. From the decree rendered, both parties appeal. The bill in this case was filed to foreclose a trust mortgage, of "which the complainant was trustee. The mortgage was executed by the Detroit & River St. Clair Railway. The bonds mentioned in the mortgage amounted to $350,000, of which only 130 were in fact issued, amounting to $65,000. All but $26,000 of that issue had been taken up before this case was heard in ‘…
1Opinion of the CourtGrant, J.
(after stating the facts). 1. We think the facts found by tho learned circuit judge are fully sustained by the evidence. It is apparent that the decree is eminently just and equitable in so protecting the rights of all parties that each loses nothing, and obtains full compensation for all labor performed, materials furnished, and moneys invested in the construction of this road. Manifestly, such a decree ought to be sustained, unless it' is in conflict with inflexible rules which control courts of equity as well as of law.
The entire trouble has arisen from the fact that the promoters, the…
2Cases cited5 opinions
- Shields v. BarrowSupreme Court of the United States · 1855
- Ex parte PrintupSupreme Court of Alabama · 1888
- Renfro Bros. v. Goetter, Weil & Co.Supreme Court of Alabama · 1884
- Harper v. Union Manufacturing Co.Illinois Supreme Court · 1881
- Coleman v. MartinU.S. Circuit Court for the District of Southern New York · 1868
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- Brockhoeft v. Life Insurance Co. of VirginiaLouisiana Court of Appeal · 1919