Contracting & Building Co. v. Continental Trust Co.
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Western Division of the Northern District of Ohio. The appellant is a creditor of the Toledo, St. Louis & Kansas Oity Railroad Company, holding six notes, for §10,000 each, which matured in May and .(uno, 1893, and are renewals of notes originally made January 6, 1892, payable to the order of S. H. Kneeland, and indorsed by him.
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Appeal from the Circuit Court of the United States for the Western Division of the Northern District of Ohio. The appellant is a creditor of the Toledo, St. Louis & Kansas Oity Railroad Company, holding six notes, for §10,000 each, which matured in May and .(uno, 1893, and are renewals of notes originally made January 6, 1892, payable to the order of S. H. Kneeland, and indorsed by him. The railroad company became insolvent, and in May, 1898, a receiver was appointed by the court below, upon a bill filed by general creditors. Subsequently, and in December, 1893, the trustees, under a mortgage…
1Opinion of the CourtLurton, Circuit Judge
The claim to a lien superior to the lien of the mortgage bonds upon the locomotive engines is not well founded. The Rhode Island Locomotive Works sold to the railroad company in June, 1891, 10 locomotives, for the consideration of $89,500. Of this, $17,900 was paid in cash upon delivery. Eor the remainder, 12 obligations, called “lease warrants,”' were executed, each for $5,966, which matured at monthly intervals, up to June 13, 1S92. The instrument evidencing this transaction was in the form of a lease; the payments made, and to he made, being called “rentals.” The legal title remained in…
2Cases cited13 opinions
- Fosdick v. SchallSupreme Court of the United States · 1879
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- McGourkey v. Toledo & Ohio Central Railway Co.Supreme Court of the United States · 1892
- Heryford v. DavisSupreme Court of the United States · 1880
- Morgan's Louisiana & Texas Railroad & Steamship Co. v. Texas Central Railway Co.Supreme Court of the United States · 1890
8 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Manson v. DaytonCourt of Appeals for the Eighth Circuit · 1907
- Fisher v. ZollingerCourt of Appeals for the Sixth Circuit · 1906
- Fordyce v. Omaha, Kansas City & E. R. R.U.S. Circuit Court for the District of Western Missouri · 1906
- United States Mortgage & Trust Co. v. Chicago & A. R. Co.Court of Appeals for the Seventh Circuit · 1930
- Mercantile Trust Co. v. Tennessee Cent. R.District Court, M.D. Tennessee · 1921
4 more not listed; retrieve them via the Exa API.