Central Trust Co. of New York v. East Tennessee, V. & G. R.
Court of Appeals for the Sixth Circuit
Appeals of W. B. Belknap & Co., E. A. Kinsey & Co., Matthews, Northrup & Co., and Westinghouse Air-Brake Co., Parties by Intervention, from the Circuit Court of the United States for the Eastern District of Tennessee.
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Appeals of W. B. Belknap & Co., E. A. Kinsey & Co., Matthews, Northrup & Co., and Westinghouse Air-Brake Co., Parties by Intervention, from the Circuit Court of the United States for the Eastern District of Tennessee. This is an appeal, by the several interveners mentioned above, from a decree of the circuit court refusing to allow payment of their several claims out of the corpus of the property.of the railroad company in preference to the mortgages foreclosed in the principal case. The East Tennessee, Virginia & Georgia Railroad Company is an insolvent railroad corporation, whose entire…
1Opinion of the CourtLurton, Circuit Judge
The question as to whether there was a diversion of the current income by the railroad company to the payment of interest on the foreclosed mortgage debts, or in the permanent improvement of the mortgaged property, was principally one of fact, and was referred to a special commissioner, who reported that there had been no such diversion. The exceptions to this finding were considered by the court below, and overruled. We think it was not error.to exclude from consideration income applied to the payment of interest on the senior mortgages. The junior mortgagees did not receive the income so…
2Cases cited18 opinions
- Fosdick v. SchallSupreme Court of the United States · 1879
- Tilghman v. ProctorSupreme Court of the United States · 1888
- Kimberly v. ArmsSupreme Court of the United States · 1889
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- Thomas v. Western Car Co.Supreme Court of the United States · 1893
13 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Tug River Coal & Salt Co. v. BrigelCourt of Appeals for the Sixth Circuit · 1898
- In Re New York, New Haven and Hartford Railroad Co.District Court, D. Connecticut · 1967
- International Trust Co. v. T. B. Townsend Brick & Contracting Co.Court of Appeals for the Sixth Circuit · 1899
- Moore v. DonahooCourt of Appeals for the Ninth Circuit · 1914
- New York Trust Co. v. Detroit, T. & I. Ry. Co.Court of Appeals for the Sixth Circuit · 1918
17 more not listed; retrieve them via the Exa API.