International Trust Co. v. United Coal Co.
Supreme Court of Colorado
Appeal from the District Court of Arapahoe County. In the year 1891 the United Coal Company was organized under the laws of this state for the purpose of acquiring coal lands and mining and selling coal.
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Appeal from the District Court of Arapahoe County. In the year 1891 the United Coal Company was organized under the laws of this state for the purpose of acquiring coal lands and mining and selling coal. On July 1, 1892, it borrowed $500,000 evidenced by 500 of its negotiable bonds in the sum of $1,000 each, and to secure their payment executed a mortgage to the International Trust Company, as trustee, upon the properties which it then owned in Boulder county, Colorado, which are designated in the record as the northern mines or properties. Between the 18th of July, 1892, and the end of that…
1Opinion of the CourtChief Justice Campbell
The immediate and principal question for our determination is whether the lien of the receivers’ certificates is senior or junior to the lien of the prior recorded mortgage. The discussion of that question, however, will be simplified by-considering briefly the nature of the action brought by the German National Bank.
Though the bank held as collateral security for its loan to the United Coal Company some first mortgage bonds of the latter, the action which it instituted was not for the purpose of foreclosing the mortgage, or protecting its interests as a bondholder. Fairly considered, the…
2Cases cited17 opinions
- Barton v. BarbourSupreme Court of the United States · 1881
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Miltenberger v. Logansport Railway Co.Supreme Court of the United States · 1882
- Burnham v. BowenSupreme Court of the United States · 1884
12 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- First Nat. Bank of Chicago v. Prima Co.Court of Appeals for the Seventh Circuit · 1937
- Oldroyd v. McCreaUtah Supreme Court · 1925
- International Trust Co. v. Decker Bros.Court of Appeals for the Ninth Circuit · 1907
- National Surety Corp. v. SharpeSupreme Court of North Carolina · 1952
- Van Valkenburgh v. FordCourt of Appeals of Texas · 1918
26 more not listed; retrieve them via the Exa API.