Pugh v. Fairmount Gold & Silver Mining Co.
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OE THE UNITED STATES FOR THE DISTRICT OP COLORADO. This was a bill filed on November 26,1875, by Thomas Hare and Jonathan H. Pugh, trustees, to foreclose a mortgage executed to them on August 22, 1870, by the Fairmount Gold and Silver Mining Company, to secure the bond of the company for $17,000. It appears from the record that at the date of the mortgage the mining company was indebted to various persons, who held its promissory notes- or…
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APPEAL FROM THE CIRCUIT COURT OE THE UNITED STATES FOR THE DISTRICT OP COLORADO. This was a bill filed on November 26,1875, by Thomas Hare and Jonathan H. Pugh, trustees, to foreclose a mortgage executed to them on August 22, 1870, by the Fairmount Gold and Silver Mining Company, to secure the bond of the company for $17,000. It appears from the record that at the date of the mortgage the mining company was indebted to various persons, who held its promissory notes- or certificates of indebtedness, given and bearing date between August 1, 1868, and May 20, 1870, and amounting in the aggregate…
1Opinion of the CourtJustice Woods
He stated the facts in the foregoing language, and continued:
It is clear that the complainant was entitled to a decree of foreclosure unless the grounds of defence alleged by the respondent Reed were well taken.
The first of these was, that the directors of the mining'company, who executed the bond and mortgage, did so without authority, and the bond and mortgage were therefore null and void. It is a sufficient reply to the defence to say that no issue is taken by the answer upon the averment of the bill that the bond and mortgage were executed and delivered by the proper officers of the…
2Cases cited3 opinions
- Powell v. WilliamsSupreme Court of Alabama · 1848
- Linville v. BellIndiana Supreme Court · 1874
- Waller v. TateCourt of Appeals of Kentucky · 1844
3Cited by4 opinions
- Sheffield & B. Coal, Iron & Railway Co. v. NewmanCourt of Appeals for the Fifth Circuit · 1896
- Hammett v. Ruby Lee Minar, Inc.Court of Appeals for the D.C. Circuit · 1931
- Fed. Sec. L. Rep. P 95,392 Lawrence R. Barnett v. Don KirshnerCourt of Appeals for the Second Circuit · 1975
- Mancourt-Winters Coal Co. v. St. Clair Paper Co.District Court, E.D. Michigan · 1919