Terry v. Wisconsin Marine & Fire Insurance
Wisconsin Supreme Court
APPEAL from the Circuit Court for Milwaulcee County. The grounds upon which the plaintiff claimed a judgment against the defendant as garnishee for the city of Milwaukee, are stated by the court. The circuit court denied the motion for such a judgment, and the plaintiff appealed.
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APPEAL from the Circuit Court for Milwaulcee County. The grounds upon which the plaintiff claimed a judgment against the defendant as garnishee for the city of Milwaukee, are stated by the court. The circuit court denied the motion for such a judgment, and the plaintiff appealed. Sec. 1, oh. 80, Laws of 1861, declares that “ the commissioners of the public debt [of Milwaukee], with the approval of the mayor and common council of said city, may sell, assign, exchange or otherwise dispose of any and all stocks, bonds, mortgages or other securities or property whatever, which said city now hath…
1Opinion of the Court
By the Court,
Paine, J.
Tbe city of Milwaukee issued its bonds to tbe amount of $166,000 in aid of tbe Milwaukee & Horicon Railroad. It received a second mortgage on tbe road and tbe bond of tbe company as security. Tbe road was afterwards sold on the first mortgage in pursuance of an arrangement among those interested, and a surplus of over $90, 000 came into tbe bands of tbe commissioners of the public debt of tbe city of Mitwaukee, as applicable to tbe security of tbe city as second mortgagee. In was deposited by them with the bank which is defendant in this proceeding. And tbe plaintiff, a…
2Cases cited2 opinions
- People v. JohnsonIllinois Supreme Court · 1853
- Briggs v. BlockSupreme Court of Missouri · 1853