Randall v. Detroit & Northwestern Railway
Michigan Supreme Court
Appeal from Wayne; Rohnert, J. Bill by James A. Randall, trustee, against the Detroit & Northwestern Railway, the Detroit United Railway, the Preston National Bank, the Union Trust Company, William J. Hayes, Harry E. Hayes, and William L. Hayes, copartners as W. J. Hayes & Sons, Seymour Brownell, and Edward W. Voigt, for an accounting, and to enforce an alleged right of subrogation.
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Appeal from Wayne; Rohnert, J. Bill by James A. Randall, trustee, against the Detroit & Northwestern Railway, the Detroit United Railway, the Preston National Bank, the Union Trust Company, William J. Hayes, Harry E. Hayes, and William L. Hayes, copartners as W. J. Hayes & Sons, Seymour Brownell, and Edward W. Voigt, for an accounting, and to enforce an alleged right of subrogation. From an order sustaining the several demurrers of defendants bank, trust company, and Hayes & Sons, complainant appeals.
1Opinion of the CourtMontgomery, J.
The complainant and defendants Voigt and Brownell were the owners of all of the stock and *494assets of two street railways, — the, Grand River Electric Railroad and the Pontiac & Sylvan Lake Railway. Upon March 31, 1899, they sold all of the property and assets of both railway companies to the Detroit & Northwestern Railway, receiving in payment stock of the last-named company and $260,000 of its bonds of an issue of $900,000'; and $560,000 of bonds were issued to the Wolverine Construction Company, a company organized by the same parties for the purpose of building and constructing the Detroit…
2Cases cited4 opinions
- Pipp v. ReynoldsMichigan Supreme Court · 1870
- Nelson v. RogersSupreme Court of Minnesota · 1891
- Wheeler v. StewartMichigan Supreme Court · 1892
- Wilcox v. MuscheMichigan Supreme Court · 1878
3Cited by3 opinions
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- Voss v. StranahanMichigan Supreme Court · 1929