First Savings & Trust Co. v. Waukesha Canning Co.
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the Eastern District of Wisconsin; Arthur R. Sanborn, Judge. Stockholder’s bill by William H. Nichols against the Waukesha Canning Company. From a decree dismissing the cross-bill of the First Savings & Trust Company as trustee, it appeals.
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Appeal from the District Court of the United States for the Eastern District of Wisconsin; Arthur R. Sanborn, Judge. Stockholder’s bill by William H. Nichols against the Waukesha Canning Company. From a decree dismissing the cross-bill of the First Savings & Trust Company as trustee, it appeals. In pursuance of the plan agreed upon by all the creditors and the principal stockholders at a meeting held about November, 1909, to consider the financial condition of appellee, it was decided to issue bonds to the amount of $150,000, to be secured by mortgage upon the real property of appellee, which…
1Opinion of the CourtKohesaat, Circuit Judge
(after stating the facts as above). [1] The question presented is, whether the placing of the bonds under consideration as collateral to the indebtedness of appellee existing prior to the issue thereof was obnoxious to the terms of section 1753 of the statutes of Wisconsin aforesaid. Concretely stated, did the issue and application of the bonds in suit as collateral security to existing indebtedness constitute the issue and application' of bonds for money or labor or property ?
“The object of the statute,” says Chief Justice Dyon in Pfister et al. v. Milwaukee Electric Railroad Company, 83…
2Cases cited13 opinions
- Memphis & Little Rock Railroad v. DowSupreme Court of the United States · 1887
- Nelson v. HubbardSupreme Court of Alabama · 1892
- Duncomb v. . N.Y., H. N.R.R. Co.New York Court of Appeals · 1881
- Haynes v. Kenosha Electric Railway Co.Wisconsin Supreme Court · 1909
- Millis v. ThayerWisconsin Supreme Court · 1909
8 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In re Progressive Wall Paper Corp.Court of Appeals for the Second Circuit · 1916
- Mudge v. Black, Sheridan & WilsonCourt of Appeals for the Eighth Circuit · 1915
- In re Paul Delaney Co.District Court, W.D. New York · 1927
- In re Valecia Condensed Milk Co.District Court, W.D. Wisconsin · 1916
- In re Progressive Ware Paper Corp.District Court, N.D. New York · 1915
4 more not listed; retrieve them via the Exa API.