Newman v. Schwerin
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Eastern District of Tennessee^ This is a bill which seeks to set up and enforce a trust in behalf of complainant Mrs. Newman in and to an undivided one-third interest in a large body of unimproved mountain land, the title to which is now in the defendant corporation, the Central Land & Coal Company.
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Appeal from the Circuit Court of the United States for the Eastern District of Tennessee^ This is a bill which seeks to set up and enforce a trust in behalf of complainant Mrs. Newman in and to an undivided one-third interest in a large body of unimproved mountain land, the title to which is now in the defendant corporation, the Central Land & Coal Company. Prior to the trust: asserted, this body of laud was owned by Mrs. Mamie Newman, ’Mrs. Victoria Schwerin, and Mrs. Lena Fink, as tenants in common; Mrs. Newman’s interest being an undivided one-half, while her two co-tenants each owned an…
1Opinion of the CourtLurton, Circuit Judge
Under the admitted facts of this case it is most obvious that the defendant Morris Schwerin was the actual purchaser of the lands sold under the decree in the case of John H. Co'ther, Adm’r, against Morris Schwerin and others. His agreement with his associates' in the promotion of a corporation to be known as the Central Land & Coal Company w-as, in substance and legal effect, that he would sell these lands to that corporation for $150,000 in its capital stock. To carry out this plan; it was necessary that he should buy the lands at the pending sale. Most probably for the purpose of…
2Cases cited2 opinions
- William C. S. Ventress, Executors of Lovic Ventress, Deceased, in Error v. Neal Smith, Administrator of John Clark, DeceasedSupreme Court of the United States · 1836
- Harris v. SmithTennessee Supreme Court · 1897
3Cited by2 opinions
- Hallahan v. CommissionerUnited States Board of Tax Appeals · 1928
- Hallahan v. CommissionerUnited States Board of Tax Appeals · 1928