William Firth Co. v. South Carolina Loan & Trust Co.
Court of Appeals for the Fourth Circuit
Appeal from the District Court of the United States for the District of South Carolina, in Bankruptcy. There was in the county of Laurens, in the state of South Carolina, a mercantile firm composed of J. S. Blalock and L. W. C. Blalock, father and son, doing business under the name of the Goldville Manufacturing Company. In 1900 the firm enlarged its business, erected cotton gins and cotton oil machinery, and contemplated erecting a cotton mill.
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Appeal from the District Court of the United States for the District of South Carolina, in Bankruptcy. There was in the county of Laurens, in the state of South Carolina, a mercantile firm composed of J. S. Blalock and L. W. C. Blalock, father and son, doing business under the name of the Goldville Manufacturing Company. In 1900 the firm enlarged its business, erected cotton gins and cotton oil machinery, and contemplated erecting a cotton mill. These gins and cotton oil machinery were upon a tract of land owned by the copartners. The cotton mill was to be erected on the same land. Carrying…
1Opinion of the CourtSimonton, Circuit Judge
(after stating the facts). The first assignment of error is that all the money received from the sale of the *573■'bonds was not used for the purchase of machinery or other corporate purposes. Literally this is true. The record shows that no bonds were sold; that an effort was made to make sale of them, but this ■could not be effected, except at a large discount. The plan of borrowing the money on hypothecation was adopted, and all the money so obtained was devoted to paying for machinery contracted for. The bonds not so used were placed as security for other purchases of the same character.…
2Cases cited20 opinions
- Marbury v. MadisonSupreme Court of the United States · 1803
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Memphis & Little Rock Railroad v. DowSupreme Court of the United States · 1887
- Railroad Co. v. HowardSupreme Court of the United States · 1869
- Voorhis v. FreemanSupreme Court of Pennsylvania · 1841
15 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Curtis G. Testerman Co. v. BuckCourt of Appeals of Maryland · 1995
- Scott v. AbbottCourt of Appeals for the Eighth Circuit · 1908
- Kemmerer v. St. Louis Blast Furnace Co.Court of Appeals for the Eighth Circuit · 1914
- Granite Brick Co. v. TitusCourt of Appeals for the Fourth Circuit · 1915
- In re Goldville Mfg. Co.District Court, D. South Carolina · 1903
14 more not listed; retrieve them via the Exa API.