Georgia Granite Railroad v. Miller
Supreme Court of Georgia
Exceptions to auditor’s report. Before Judge Bell. Fulton superior court. September 12, 1914. T. C. Miller as trustee under a deed of trust to secure the payment of an issue of bonds of the Georgia Granite Railroad Company, to the amount of fifty thousand dollars, and Venable Brothers as holders of such bonds filed an equitable petition against the railroad company, to foreclose the deed of trust, and to have the property sold to satisfy the bonds.
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Exceptions to auditor’s report. Before Judge Bell. Fulton superior court. September 12, 1914. T. C. Miller as trustee under a deed of trust to secure the payment of an issue of bonds of the Georgia Granite Railroad Company, to the amount of fifty thousand dollars, and Venable Brothers as holders of such bonds filed an equitable petition against the railroad company, to foreclose the deed of trust, and to have the property sold to satisfy the bonds. The defendant filed its answer contesting the foreclosure on various grounds. The Georgia Granite Company, another corporation, had issued its…
1Dissent
Atkinson, J.,
dissents as to the preceding notes 3 and (a) and (6). He is of opinion that if any stockholder of the railroad company was not notified, as prescribed in the Civil Code, § 2583, the bonds are void.
4. The provisions contained in the Civil Code (1910), § 2583, are primarily for the benefit of the stockholders, and, so far at least as their interests are involved, may be waived by them. Whether or not a creditor with a lien on the property of the railroad company, arising before or after the giving of the mortgage or deed of trust to secure the bonds, or any other person, could…
2Cases cited14 opinions
- Nelson v. HubbardSupreme Court of Alabama · 1892
- Smith v. McCulloughSupreme Court of the United States · 1881
- Paulding v. . the Chrome Steel CompanyNew York Court of Appeals · 1884
- Railroad Co. v. SpragueSupreme Court of the United States · 1881
- Beecher v. Marquette & Pacific Rolling Mill Co.Michigan Supreme Court · 1881
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