Hewitt v. Linnhaven Orchard Co.
Oregon Supreme Court
From Linn: William Galloway, Judge. Department 2. This is a suit by H. H. Hewitt, as trustee, for the purpose of foreclosing three trust deeds, given as mortgages by the defendant Linnhaven Orchard Company, as security for the redemption of certain certificates of preferred stock. The defendants and appellants Bernard Arndt, G. .A.
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From Linn: William Galloway, Judge. Department 2. This is a suit by H. H. Hewitt, as trustee, for the purpose of foreclosing three trust deeds, given as mortgages by the defendant Linnhaven Orchard Company, as security for the redemption of certain certificates of preferred stock. The defendants and appellants Bernard Arndt, G. .A. Sarles, Dora A. Sarles, Martha J. Leslie, John E. Paulson, C. H. Turner, M. J. 0 ’Toole, Walter I. Howard, M. D. Van De Water, Alice B. Peniston, John Loretz, E. S. Nelson, Jane H: Baird and Jean Grant Spence are some of the purchasers of the tracts of land of the…
1Opinion of the CourtBean, J.
1. The question for determination is as to the priority of the claims and liens of the respective parties. In addition to the contention made on behalf of the' appealing defendants in the case of First Savings Bank v. Linnhaven Orchard Co., 89 Or. 354 (174 *8Pac. 614), these defendants challenge the right of the preferred stockholders to obtain security by virtue of the trust deeds given as mortgages to secure the redemption of their certificates of stock, to the exclusion of the general creditors of the corporation.
The statutes of some of the states authorize corporations to dispose of…
2Cases cited7 opinions
- Hamlin v. Toledo, St. L. & K. C. R.Court of Appeals for the Sixth Circuit · 1897
- Heller, Hirsch & Co. v. National Marine BankCourt of Appeals of Maryland · 1899
- Field v. Lamson & Goodnow Manufacturing Co.Massachusetts Supreme Judicial Court · 1894
- Belfast & Moosehead Lake Railroad v. City of BelfastSupreme Judicial Court of Maine · 1885
- Lloyd v. Pennsylvania Electric Vehicle Co.Supreme Court of New Jersey · 1909
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3Cited by6 opinions
- State ex rel. Hopkins v. Southwestern Bell Telephone Co.Supreme Court of Kansas · 1924
- Booth v. Union Fibre Co.Supreme Court of Minnesota · 1919
- Jones Valley Finance Co. v. TennilleAlabama Court of Appeals · 1959
- Augusta Trust Co. v. Augusta, Hallowell & Gardiner RailroadSupreme Judicial Court of Maine · 1936
- Kennedy v. Central Power Co.Nebraska Supreme Court · 1935
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