Central Trust Co. v. Wabash, St. L. & P. Ry. Co.
U.S. Circuit Court for the District of Eastern Missouri
In Equity. • Petition of the Central Trust Company and James Cheney, trustees under the general mortgage of the Wabash, St. Louis & Pacific Railway Company, asking for an order on the receivers to pay the expenses of certain negotiations between the general mortgage and collateral trust bondholders of said railway company, having for their object the sale of the mortgaged property to the best advantage when the final decree of sale is made, and a reorganization of said…
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In Equity. • Petition of the Central Trust Company and James Cheney, trustees under the general mortgage of the Wabash, St. Louis & Pacific Railway Company, asking for an order on the receivers to pay the expenses of certain negotiations between the general mortgage and collateral trust bondholders of said railway company, having for their object the sale of the mortgaged property to the best advantage when the final decree of sale is made, and a reorganization of said company. The- negotiations have resulted in an agreement which has been signed or assented to by holders of general mortgage…
1Opinion of the Court
Brewer, J.,
(orally.) The petition of the Central Trust Company in the Wabash Railroad Case for an order on the receivers to pay the expenses of certain negotiations, and of the preparation of certain, certificates, etc., is denied. I doubt not that if this arrangement, which is contemplated, shall be carried out, and the sale and purchase made in pursuance thereof, these expenses will be a proper charge against the property, and to be paid out of the proceeds of the sale. If there was any surplus money in the hands of the receivers, perhaps there would be no impropriety in advancing the money…
2Cited by1 opinion
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