Illinois Trust & Savings Bank v. Doud
Court of Appeals for the Eighth Circuit
Appeal from the 'CUrcuit Court of the United States for the Southern District of Iowa. For opinion below, see 89 Fed. 295. This appeal involves the right of a «'editor of a mortgagor, a quasi public corporation, to a preference in payment over a prior mortgagee.
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Appeal from the 'CUrcuit Court of the United States for the Southern District of Iowa. For opinion below, see 89 Fed. 295. This appeal involves the right of a «'editor of a mortgagor, a quasi public corporation, to a preference in payment over a prior mortgagee. On June 15, 1892, The Ottumwa Electric Hallway, a. corporation, engaged in furnishing steam heat and power, in operating a street railroad by electricity, and in furnishing electric light to the city of 01 tramwa, executed a trust deed, which will hereafter he called a mortgage, to the Illinois Trust & Savings Bank, a corporation, to…
1Opinion of the CourtSanborn, Circuit Judge
Is a loan to a quasi public corporation upon a pledge or mortgage of its current income to enable it to construct a substantial and beneficial addition to its plant, which was necessary to the maintenance of the volume of its business, but was not indispensable to its continuance as a going concern, entitled in equity to a lien upon the income or corpus of its property superior to the lien of a prior mortgage, which covered all its income, and all its property acquired before and after its execution? A careful examination of the record has convinced us that this is the question which this…
2Cases cited43 opinions
- Fosdick v. SchallSupreme Court of the United States · 1879
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Thomas v. Western Car Co.Supreme Court of the United States · 1893
- Miltenberger v. Logansport Railway Co.Supreme Court of the United States · 1882
38 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- State ex inf. Hadley v. Delmar Jockey ClubSupreme Court of Missouri · 1906
- Atlantic Trust Co. v. DanaCourt of Appeals for the Eighth Circuit · 1903
- Western Union Telegraph Co. v. United States & Mexican Trust Co.Court of Appeals for the Eighth Circuit · 1915
- State Ex Rel. Daniel v. Broad River Power Co.Supreme Court of South Carolina · 1929
- Westinghouse Air Brake Co. v. Kansas City Southern Ry. Co.Court of Appeals for the Eighth Circuit · 1905
34 more not listed; retrieve them via the Exa API.