Central Trust Co. v. Kneeland
Supreme Court of the United States
APPEAL FEOM THE CIRCUIT COURT OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF OHIO. The case, as stated by the court, was as follows : On the 17th of January, 1880, the Toledo, Delphos and Burlington Kailroad Company, a corporation organized by the consolidation of several constituent companies, executed a mortgage to the Central Trust Company of New York, by which it conveyed the following property : “ All and singular the line of railroad of the said party of the first…
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APPEAL FEOM THE CIRCUIT COURT OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF OHIO. The case, as stated by the court, was as follows : On the 17th of January, 1880, the Toledo, Delphos and Burlington Kailroad Company, a corporation organized by the consolidation of several constituent companies, executed a mortgage to the Central Trust Company of New York, by which it conveyed the following property : “ All and singular the line of railroad of the said party of the first part, as the same now is or may hereafter be constructed between Toledo, Lucas County, Ohio, through the counties of…
1Opinion of the CourtJustice Brewer
The first mortgage had the “ after-acquired property ” clause in it. It is settled that such a clause is valid, and that thereby the mortgage covers not only property then owned by the railroad company, but becomes a lien upon ail property subsequently acquired by it which comes within the description in the mortgage. Pennock v. Coe, 23 How. 117; Dunham, v. Cincinnati, Peru &c. Railway, 1 Wall. 254; Galveston Railroad v. Cowdrey, 11 Wall. 459; Thompson v. Valley Railroad Company, 132 U. S. 68. And this is true, not only as to property to which it acquires the legal title, but also as to that…
2Cases cited5 opinions
- Galveston Railroad v. CowdreySupreme Court of the United States · 1871
- Pennock v. CoeSupreme Court of the United States · 1860
- Toledo, Delphos & Burlington Railroad v. HamiltonSupreme Court of the United States · 1890
- Dunham v. Cincinnati, P., & CR Co.Supreme Court of the United States · 1864
- Thompson v. White Water Valley RailroadSupreme Court of the United States · 1889
3Cited by61 opinions
- Bear Lake & River Water Works & Irrigation Co. v. GarlandSupreme Court of the United States · 1896
- Farmers' Loan & Trust Co. v. Denver, L. & G. R.Court of Appeals for the Eighth Circuit · 1903
- Wood v. Holly Manufacturing Co.Supreme Court of Alabama · 1893
- Wade v. Chicago, Springfield & St. Louis RailroadSupreme Court of the United States · 1893
- Kendrick Coal & Dock Co. v. Com'r of Internal RevenueCourt of Appeals for the Eighth Circuit · 1928
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