Wabash, St. Louis & Pacific Railway Co. v. Ham
Supreme Court of the United States
APPEAL PROM THE CIRCUIT COURT OF THE UNITED STATES FOE THE DISTRICT OF INDIANA. This was an appeal from a decree- in equity, declaring certain bonds issued by the Toledo- and Wabash Railway Company -to be a lien upon property formerly owned by that company, and since transferred by it to the Toledo, Wabash and Western Railway Company, a corporation created by its consolidation with three other railroad corporations. 11 Bissell, 510. The material facts appearing by the record…
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APPEAL PROM THE CIRCUIT COURT OF THE UNITED STATES FOE THE DISTRICT OF INDIANA. This was an appeal from a decree- in equity, declaring certain bonds issued by the Toledo- and Wabash Railway Company -to be a lien upon property formerly owned by that company, and since transferred by it to the Toledo, Wabash and Western Railway Company, a corporation created by its consolidation with three other railroad corporations. 11 Bissell, 510. The material facts appearing by the record were as follows : The Toledo and Wabash Railway Company, a corporation organized under the.laws of the States of Ohio…
1Opinion of the CourtJustice Gbay
The claim of the holders of the equipment bonds to a lien on the property of the Toledo, Wabash and Western Railway Company was asserted upon several grounds.
1. It was contended that the property of the Toledo and Wabash Railway Company was a trust fund for all its creditors, and that upon the consolidation the Toledo, Wabash and Western Railway. Company took the property of the Toledo and Wabash Railway Company charged with the payment of all its debts.
The property of a corporation is doubtless a trust fund for the payment of its debts, in the sense that when the corporation is lawfully…
2Cases cited7 opinions
- Graham v. Railroad Co.Supreme Court of the United States · 1880
- Curran v. ArkansasSupreme Court of the United States · 1853
- Shields v. OhioSupreme Court of the United States · 1877
- Williams v. McMillanOhio Supreme Court · 1849
- Railroad Co. v. GeorgiaSupreme Court of the United States · 1879
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3Cited by92 opinions
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- Hospes v. Northwestern Manuf'g & Car Co.Supreme Court of Minnesota · 1892
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