Jerome v. McCarter
Supreme Court of the United States
On motion of Mr. G. F. Edmunds, to increase the amount of a bond given on appeal and for additional security. The case was thus: McCarter, the holder of a third mortgage, given bjr the Lake Superior Ship Canal, Railroad, and Iron Company, on about 400,000 acres of lands — pine lands, hard-wood lands, iron lands, copper lands, and farming lands — in Michigan, filed a bill in the Circuit Court for the Eastern District of Michigan, to foreclose his mortgage.
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On motion of Mr. G. F. Edmunds, to increase the amount of a bond given on appeal and for additional security. The case was thus: McCarter, the holder of a third mortgage, given bjr the Lake Superior Ship Canal, Railroad, and Iron Company, on about 400,000 acres of lands — pine lands, hard-wood lands, iron lands, copper lands, and farming lands — in Michigan, filed a bill in the Circuit Court for the Eastern District of Michigan, to foreclose his mortgage. Subsequently to this the company was decreed bankrupt, and one Jerome and another having been appointed its assignees, they were brought in…
1Opinion of the Court
The CHIEF JUSTICE
delivered the opinion of the court
This is a bill filed by a junior mortgagee of the Lake Superior Ship-Canal, Railroad and Iron Company against the company, a bankrupt, and its assignees in bankruptcy, for the foreclosure of his mortgage and a sale of the mortgaged property, subject to certain prior incumbrances. The decree appealed from ordered the payment of $1,057,686 to the complainant by the company or the assignees, and in default of such payment, the sale of the mortgaged property, subject to an incumbrance thereon of $1,500,000 and upwai’ds. From this decree both the…
2Cited by43 opinions
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- Draper v. DavisSupreme Court of the United States · 1880
- Supervisors v. KennicottSupreme Court of the United States · 1881
- Martin v. ClarkeCourt of Appeals for the Seventh Circuit · 1939
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