National Bank v. Wilmington, New Castle & Southern Railway Co.
Court of Chancery of Delaware
Petition of Receivers for Instructions as to Disposition of Certain Property. On August 1st, 1896, the Wilmington and New Castle Electric Railway Company, under authority of the Act of the Legislature by which it was incorporated, mortgaged its railway, equipment, corporate rights and franchises to secure bonds issued in order to construct its railway.
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Petition of Receivers for Instructions as to Disposition of Certain Property. On August 1st, 1896, the Wilmington and New Castle Electric Railway Company, under authority of the Act of the Legislature by which it was incorporated, mortgaged its railway, equipment, corporate rights and franchises to secure bonds issued in order to construct its railway. On April 2nd, 1904, the company was merged and consolidated with the New Castle and Delaware City Railway Company into the Wilmington, New Castle and Southern Railway Company. On May 23rd, 1907, receivers were appointed for the last named…
1Opinion of the Court
The Chief Justice:
This case is before the Court upon an agreed statement of facts, which will sufficiently appear in the following opinion. The important question to be determined, is whether a certain freight car which was bought by the receivers of the Wilmington, New Castle and Southern Railway Company was covered by the lien of a mortgage exe*260cutcd by the Wilmington and New Castle Electric Railway Company dated August 1st, 1896 and recently foreclosed by the order of this Court. In 1904, and several years subsequent to the execution of said mortgage, the said Wilmington and New Castle…
2Cases cited12 opinions
- Pulllman's Palace Car Co. v. Missouri Pacific Railway Co.Supreme Court of the United States · 1885
- Wabash, St. Louis & Pacific Railway Co. v. HamSupreme Court of the United States · 1885
- Central Railroad & Banking Co. v. GeorgiaSupreme Court of the United States · 1876
- Hoyle v. Plattsburgh & Montreal RailroadNew York Court of Appeals · 1873
- Hinchman v. Point Defiance Railway Co.Washington Supreme Court · 1896
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3Cited by1 opinion
- In Re New York, S. & W. R. Co.Court of Appeals for the Third Circuit · 1940