Dow v. Memphis & Little Rock Railroad
Supreme Court of the United States
APPEAL PROM THE CIRCÜIT COURT OP THE UNITED STATES POR THE EASTERN DISTRICT OP ARKANSAS. The facts on which this case rested were these : Robert K. Dow, Watson Matthews, and Charles Moran are the trustees in two mortgages executed by the Memphis and Little Rock Railroad Company as reorganized, one on the first and the other on the second of May, 1877, to secure two separate issues of bonds.
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APPEAL PROM THE CIRCÜIT COURT OP THE UNITED STATES POR THE EASTERN DISTRICT OP ARKANSAS. The facts on which this case rested were these : Robert K. Dow, Watson Matthews, and Charles Moran are the trustees in two mortgages executed by the Memphis and Little Rock Railroad Company as reorganized, one on the first and the other on the second of May, 1877, to secure two separate issues of bonds. Each of the mortgages covered, among other things, “ all the incomes, rents, issues, tolls, profits, receipts, rights, benefits and advantages had, received or derived by the party of-the first part from…
1Opinion of the Court
Mk. Chief Justice "Waite,
after stating the case, delivered the opinion of the court.
It is well settled that the mortgagor of a railroad, even though the mortgage ' covers income, cannot be required to account to the mortgagee for earnings, while the property remains in his possession, until a demand has been made on him therefor, or for a surrender of the possession under the provisions of the mortgage. That is the effect of what was decided by this court in Galveston Railroad v. Cowdrey, 11 Wall. 459, 483.
In the present case a demand was made for the possession by the bringing of this suit,…
2Cases cited1 opinion
- Galveston Railroad v. CowdreySupreme Court of the United States · 1871
3Cited by47 opinions
- Freedman's Saving & Trust Co. v. ShepherdSupreme Court of the United States · 1888
- United States Trust Co. v. Wabash Western Railway Co.Supreme Court of the United States · 1893
- Sage v. Memphis & Little Rock RailroadSupreme Court of the United States · 1888
- St. Louis, Alton & Terre Haute Railroad v. Cleveland, Columbus, Cincinnati, & Indianapolis Railway Co.Supreme Court of the United States · 1888
- Union Trust Co. v. MorrisonSupreme Court of the United States · 1888
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