Stevens v. New York & O. M. R.
U.S. Circuit Court for the District of Southern New York
[This was a bill in equity by John G. Stevens and others, trustees, against the New York & Oswego Midland Railroad Company and others, to foreclose a certain mortgage. The receivers applied for injunctions to restrain the tax collectors from proceeding to interfere with the property, by selling it. under warrants to satisfy certain state taxes. The applications were denied. Case No. 12.405. The cause is now heard on motion for an order of distribution. See, also, Id. 6,443.]
1Opinion of the Court
BLATCHFORD, District Judge.
In deciding, in March last, various questions raised in this case, I held that the coupons due July 1st, 1873, were not paid by the company or extinguished, and that they are valid in the hands of those who hold them (as between such holders and the holders of others of the bonds and coupons) to the extent of the sums for which they hold them as collateral security, if less than the face of the coupons, and, if greater, to the extent of the face of the coupons. Further consideration has confirmed me in the foregoing conclusion.
I further held that unpaid coupons or…
2Cases cited2 opinions
- Miller v. Rutland & Washington RailroadSupreme Court of Vermont · 1867
- Sewall v. BrainerdSupreme Court of Vermont · 1865
3Cited by1 opinion
- Low v. BlackfordCourt of Appeals for the Fourth Circuit · 1898