Central of Georgia Railway Co. v. Central Trust Co.
Supreme Court of Georgia
Equitable petition. Before Judge Charlton. Chatham superior court. August 26, 1909. The Central Bailroad and Banking Company of Georgia, a domestic corporation, owned, controlled, and operated a system of railroad, and was also the sole stockholder in the Ocean Steamship Company. The railroad company passed into the hands of a receiver, and, pending the receivership, interested parties conceived a plan of reorganization.
Read the full summary
Equitable petition. Before Judge Charlton. Chatham superior court. August 26, 1909. The Central Bailroad and Banking Company of Georgia, a domestic corporation, owned, controlled, and operated a system of railroad, and was also the sole stockholder in the Ocean Steamship Company. The railroad company passed into the hands of a receiver, and, pending the receivership, interested parties conceived a plan of reorganization. By this plan a new organization, the Central of Georgia Bailway Company, was to be incorporated and was to acquire the properties of the old corporation and take care of its…
1Opinion of the CourtEvans, P. J.
(After stating the foregoing facts.)
In its last analysis this is an action to recover interest which the second and third preference income bondholders, through their respective trustees, claim was applicable to such purpose from the income of the railway company for the fiscal'year 1907, according to- the contract between the railway company and the trustees, as contained in the bonds and the mortgages given to secure their payment. As the bonds and mortgages of the two series of income bonds are identical in form and terms, and differ only in giving preference in payment to the second over…
2Cases cited12 opinions
- ILLINOIS CENT. & C. RR v. Inter. Com. Comm.Supreme Court of the United States · 1907
- Illinois Central Railroad v. Interstate Commerce CommissionSupreme Court of the United States · 1907
- Union Pacific Railroad v. United StatesSupreme Court of the United States · 1879
- Exchange Bank v. Macon Construction Co.Supreme Court of Georgia · 1895
- Nisbet v. LawsonSupreme Court of Georgia · 1846
7 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Ramo, Inc. v. EnglishTexas Supreme Court · 1973
- Farmers Warehouse of Pelham, Inc. v. CollinsSupreme Court of Georgia · 1964
- Whitfield v. KernSupreme Court of New Jersey · 1937
- Independent Gasoline Co. v. Bureau of Unemployment CompensationSupreme Court of Georgia · 1940
- Spencer v. LoweCourt of Appeals for the Eighth Circuit · 1912
21 more not listed; retrieve them via the Exa API.