Chesapeake & Ohio Railway Co. v. Atlantic Transportation Co.

The opinion of the court was delivered by

Garrison, J.

The decree of the chancellor appealed from recites that the assets of an insolvent corporation were not sufficient to satisfy the liens thereon and the expenses of the receivership, -and that the receivers had incurred heavy liabilities in carrying on the business of the corporation at a loss, and that a franchise tax levied by the state during the receivership had not been paid. The attorney-general contended that this tax was entitled to preference in payment. The decree

“ordered, adjudged and decreed that the application of the…