Shaw v. Bill
Supreme Court of the United States
Appeal from the Circuit Court of the United States for the District of Indiana. In 1849, the New Albany and Salem Railroad Company was incorporated under the laws of Indiana,-with power to construct a railroad from New Albany, on the Ohio River, to Michigan City, on Lake Michigan. To enable the company to raise the necessary means to complete and equip the road, it issued at different times a large amount of bonds, secured by mortgages upon its property.
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Appeal from the Circuit Court of the United States for the District of Indiana. In 1849, the New Albany and Salem Railroad Company was incorporated under the laws of Indiana,-with power to construct a railroad from New Albany, on the Ohio River, to Michigan City, on Lake Michigan. To enable the company to raise the necessary means to complete and equip the road, it issued at different times a large amount of bonds, secured by mortgages upon its property. There were five issues of bonds, varying in amount from $500,000 to over $2,000,000, and carrying interest from seven to ten per cent per…
1Opinion of the CourtJustice Field
It seems from the record, that, when the petition of Shaw for the appointment of a receiver was presented to the court, Mr. Hendricks, with others, appeared as special counsel for the-company, and moved its dismissal. Subsequently, Mr. Hendricks- appeared as counsel for the trustee in the proceedings on the supplemental bill for the foreclosure of the mortgages, and '-on his motion the default of the company was entered. This second appearance of counsel against the company is regarded by the appellant as exhibiting “ an anomaly .in chancery practice ” so great as to vitiate the decree. We do…
2Cases cited1 opinion
- Pennock v. CoeSupreme Court of the United States · 1860
3Cited by24 opinions
- American Nat. Bank v. BradfordCourt of Appeals of Tennessee · 1945
- Eisemann v. . HazardNew York Court of Appeals · 1916
- Potomac Man'f'g Co. v. EvansSupreme Court of Virginia · 1888
- In re Boston Dry Goods Co.Court of Appeals for the First Circuit · 1903
- Smith v. Biggs Boiler Works Co.Court of Chancery of Delaware · 1952
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