Illinois Steel Co. v. Putnam
Court of Appeals for the Fifth Circuit
Appeal from the Circuit Court of the United States for the Eastern District of Texas. This was a petition by C. M. Putnam and Sam Lazarus, receivers of the Texas, Louisiana & Eastern Eailway Company, against the Illinois Steel Company, to recover from it certain steel rails and other property which were purchased of it by the railroad company, with other rails and materials, but which had been surrendered to it by the managers of the railroad company under an agreement for…
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Appeal from the Circuit Court of the United States for the Eastern District of Texas. This was a petition by C. M. Putnam and Sam Lazarus, receivers of the Texas, Louisiana & Eastern Eailway Company, against the Illinois Steel Company, to recover from it certain steel rails and other property which were purchased of it by the railroad company, with other rails and materials, but which had been surrendered to it by the managers of the railroad company under an agreement for the partial extinguishment of the purchase price. The circuit court held — confirming the report of a special master —…
1Opinion of the Court
McCOEMICK, Circuit Judge.
In April, 1893, the Texas, Louisiana & Eastern Eailroad Company purchased of the appellant, the Illinois Steel Company, about 700 tons of steel rails, with sufficient and suitable fastenings for placing the rails in its railroad track. These rails were delivered to the railroad company, and about 400 tons of them were placed in its track before November' 29, 1893. On that day the president and manager of the railroad company, in the name of the company, gave to the appellant a chattel mortgage on the rails not yet laid in the track, but piled on the right of way of…
2Cases cited1 opinion
- Adams v. Mercantile Trust Co.Court of Appeals for the Fifth Circuit · 1895
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