Jessup v. Bridge
Supreme Court of Iowa
Appeal from Dubuque District Court. Dependants obtained a judgment against the D. & P. R. R. Company, and issued an execution and levied the same by garnishment upon the treasurer, freight agent and conductor of the company. This execution the plaintiffs enjoined. A motion to dissolve the injunction was overruled, and the defendants appeal.
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Appeal from Dubuque District Court. Dependants obtained a judgment against the D. & P. R. R. Company, and issued an execution and levied the same by garnishment upon the treasurer, freight agent and conductor of the company. This execution the plaintiffs enjoined. A motion to dissolve the injunction was overruled, and the defendants appeal. I. Can a railroad company mortgage its entire effects, including the cash in'hand and the future earnings of the road, and including property not yet acquired, to secure bonds not yet issued, and will such mortgage operate as a lien for advances made, or…
1Opinion of the CourtLowe, C. J.
The motion to dissolve was based upon the want of equity in the bill, which presents in substance the following facts, in addition to those above stated : That the nett earnings of the said road are mortgaged to them, as trustees,- to secure the payment of certain bonds, $2,000,000 of which had been sold for the purpose of constructing said road, all dated the 1st of April, 1857, with interest payable semi-annually, a great part of which was due and unpaid; that a large quantity of land granted by Congress to aid in the construction of said road was included,in said deed of trust; that the…
2Cases cited1 opinion
- Coe v. PennockU.S. Circuit Court for the District of Northern Ohio · 1857
3Cited by5 opinions
- Sandwich Manufacturing Co. v. RobinsonSupreme Court of Iowa · 1891
- Dunham v. IsettSupreme Court of Iowa · 1863
- Consolidated Tank Line Co. v. Collier, Robertson & HambletonIllinois Supreme Court · 1893
- In re BurrowsDistrict Court, D. Indiana · 1877
- Riddle v. DowSupreme Court of Iowa · 1896