Freeman v. Watson
Court of Appeals for the Third Circuit
Appeal from the District Court of the United States for the Western District of Pennsylvania; James S. Young, Judge. Foreclosure suit by the Fidelity Trust Company, trustee, against the Conneaut & Erie Traction Company. From a decree confirming a master’s report and distributing the proceeds of the sale, Albert Edgar Freeman and others, bondholders, appeal.
1Opinion of the Court
J. B. McPHERSON, Circuit Judge.
This appeal is from a decree distributing a fund produced by a master’s sale of the property of the Conneaut & Erie Traction Company. The sale was made in reorganization proceedings, under a decree foreclosing a first mortgage, and the three appellants represent bonds amounting to $14,000 that did not assent to the reorganization agreement. There is little dispute about the facts, and in the following summary we have made free use of the briefs of counsel:
[11 In 1902 the traction cotfipany issued $800,000 of bonds,'secured by a "first mortgage upon all of its…
2Cases cited2 opinions
- Central Trust Co. of New York v. Cincinnati, J. & M. Ry. Co.U.S. Circuit Court for the District of Northern Ohio · 1892
- McEwen v. Harriman Land Co.Court of Appeals for the Sixth Circuit · 1905