Penn Mutual Life Insurance v. Heiss
Illinois Supreme Court
Appeal from the Circuit Court of Marion county; the Hon. B. R. Bubboughs, Judge, presiding. The Jacksonville Southeastern Railway Company was organized under the statute of Illinois, in the year 1879, and was empowered to construct, build and own a line of railway from the city of Jacksonville to Centralia.
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Appeal from the Circuit Court of Marion county; the Hon. B. R. Bubboughs, Judge, presiding. The Jacksonville Southeastern Railway Company was organized under the statute of Illinois, in the year 1879, and was empowered to construct, build and own a line of railway from the city of Jacksonville to Centralia. It acquired title to the line of railway then existing from Jacksonville to Yirden, and on July 1, 1880, it executed a mortgage on the latter line of road and its contemplated line from Yirden to Litchfield, and issued three hundred bonds, of $1000 each, secured by said mortgage, and…
1Opinion of the CourtJustice Shope
The principal question presented in this case is, whether the judgments in favor of appellees, severally, were entitled to priority of payment out of the funds produced by the sale of the railroad in the foreclosure proceeding instituted by appellants, or was the lien of the mortgage of July 1, 1882, paramount, and entitled to priority of payment as against those judgments. The court below decreed that the judgments, aggregating $11,205, were entitled to priority, and directed the master to pay the same out of the proceeds of the sale.
The Jacksonville Southeastern Railway Company was…
2Cases cited16 opinions
- Rigney v. City of ChicagoIllinois Supreme Court · 1881
- Bloodgood v. Mohawk & Hudson RailroadNew York Supreme Court · 1837
- Chicago & Eastern Illinois Railroad v. LoebIllinois Supreme Court · 1884
- Drury v. Midland RailroadMassachusetts Supreme Judicial Court · 1879
- Ohio & Mississippi Railway Co. v. WachterIllinois Supreme Court · 1888
11 more not listed; retrieve them via the Exa API.
3Cited by43 opinions
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- Chicago, Rock Island & Pacific Railway Co. v. O'NeillNebraska Supreme Court · 1899
- South Park Commissioners v. S. Karpen & Bros.Illinois Supreme Court · 1910
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