Burroughs v. Toxaway Co.
Court of Appeals for the Fourth Circuit
Appeal from the Circuit Court of the United States for the Western District of North Carolina, at Asheville. Suit im equity by A. H. Burroughs, as trustee, and others, against the Toxaway Company and others. From a decree (182 Fed. 129) sustaining exceptions to the report of a special master, plaintiffs appeal.
1Opinion of the Court
ROSE, District Judge.
The Toxaway Company is a North Carolina corporation. It owns two large summer hotels, several boarding houses, and 30,000 acres in the mountains of Western North Carolina. its land is heavily timbered. It has water power of value. All of the property was subject to a first and to a second mortgage. At the time this suit was begun there were outstanding under these mortgages bonds of the aggregate par value of $272,000. The appellant •Arrington had $210,000; the appellee Jennings, $62,000. The interest on these bonds had been unpaid and in default for about four years. The…
2Cited by11 opinions
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- United States v. Sylacauga Properties, Inc.Court of Appeals for the Fifth Circuit · 1963
- Culhane v. AndersonCourt of Appeals for the Eighth Circuit · 1927
- General Finance Corporation v. New York State Rys.District Court, W.D. New York · 1933
- In Re Hamilton's EstateMontana Supreme Court · 1934
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