First State Bank of Hubbard v. Hubbard Farmers' Oil & Gin Co.
Court of Appeals of Texas
Appeal from District Court, Hill County; Horton B. Porter, Judge. Action by the First State Bank of Hubbard against the Hubbard Farmers’ Oil & Gin Company and others. From a judgment subordinating plaintiff’s lien to other claims, plaintiff and others appeal.
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Appeal from District Court, Hill County; Horton B. Porter, Judge. Action by the First State Bank of Hubbard against the Hubbard Farmers’ Oil & Gin Company and others. From a judgment subordinating plaintiff’s lien to other claims, plaintiff and others appeal. This suit was brought on the 7th of July, 1913, by First State Bank of Hubbard against Hubbard Farmers’ Oil & Gin Company, a private corporation, to recover an indebtedness evidenced by a note and overdrafts secured by a mortgage on the plant' of said company, and for foreclosure of said mortgage thereon. W. C. Horne, Eb Johnson, J. A.…
1Opinion of the CourtRice, J.
(after stating the facts as above). Appellant challenges the correctness of said judgment postponing the payment of its claim to those of the other claimants, contending that by reason of the facts stated its debt was prior to any of the other claims so preferred, and should be paid first, and this is the principal contention involved in this appeal.
We think there can be no question but what the proceeds of the policies of insurance should be treated as standing in the place of the original property, charged with all the obligations outstanding against it. It will be recalled that the…
2Cases cited22 opinions
- Barton v. BarbourSupreme Court of the United States · 1881
- Fosdick v. SchallSupreme Court of the United States · 1879
- Kneeland v. American Loan & Trust Co.Supreme Court of the United States · 1890
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Miltenberger v. Logansport Railway Co.Supreme Court of the United States · 1882
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- Hooven-Owens-Rentschler Co. v. T. Schriver & Co.Court of Appeals of Texas · 1916
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