Knickerbocker Trust Co. v. Tarrytown, White Plains & Mamaroneck Railway Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, the Knickerbocker Trust Company,. from an order of the Supreme Court, made at the Westchester Special Term and entered in the office of the clerk of the county of Westchester on the 19th day of February, 1909, authorizing an issue of receiver’s certificates in an aggregate sum not to exceed $50,000.
1Opinion of the Court
Burr, J.:
This action is brought for the foreclosure of a mortgage upon the property and franchises of the defendant railroad company. On the 13th day of January, 1909, ,J. Addison Young was appointed as-receiver in this action. On the eighteenth day of February, upon his petition, he was authorized to issue certificates amounting to the sum of $50,000, which should be a lien upon the rights, franchises, property and assets of the said' railroad company prior to the lien of the plaintiff’s mortgage, and which, in the event of a sale, should be first paid out of the proceeds thereof. By said…
2Cases cited13 opinions
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Morgan's Louisiana & Texas Railroad & Steamship Co. v. Texas Central Railway Co.Supreme Court of the United States · 1890
- Gregg v. Metropolitan Trust Co.Supreme Court of the United States · 1905
- Meyer v. Johnston & StewartSupreme Court of Alabama · 1875
- Herring v. . N.Y., L.E. W.R.R. Co.New York Court of Appeals · 1887
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3Cited by2 opinions
- In re Clemente Bros.New York Supreme Court · 1959
- Archinal v. ReussNew York Supreme Court · 1965