Todd v. Gallego Mills Manufacturing Co.
Supreme Court of Virginia
Appeal from decree of chancery court of city of Richmond, rendered May 28th, 1887, in two suits under the style of Stokes & Allen v. The Gallego Mills Manufacturing Company, and The Merchants and Mechanics Saving Bank v. The same, which were heard together.
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Appeal from decree of chancery court of city of Richmond, rendered May 28th, 1887, in two suits under the style of Stokes & Allen v. The Gallego Mills Manufacturing Company, and The Merchants and Mechanics Saving Bank v. The same, which were heard together. The trust property decreed to be sold, was knocked off to Charles L. Todd at $120,000. Before the circuit court acted upon the report, J. B. Anderson put in an upset bid of $182,000. The court refused to confirm the sale, and directed a re-sale. "From this decree Todd appealed to this court. Opinion states the case.
1Opinion of the CourtLacy, J.
This suit was a creditors’ bill to subject the property of the Gal*588lego Mills Manufacturing company to the payment of the debts •of the company, an insolvent concern. The debts aggregating $542,146 34, while the assessed value of the real estate is reported as $205,835, without a lot known as the “Rutherford Mills Lot,” lying outside the city of Richmond, in the county of Henrico, the assessed value of which is not stated, but which was knocked down by the auctioneer at the sale ordered by the court at the price of $2,470. The fixtures, machinery, and good will and furniture being stated at…
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