Jeffers v. New Jersey & Pennsylvania Railroad

Howell, V. C.

The New Jersey and Pennsylvania Railroad Company owned a short line of railway constructed from Whitehouse to Morris-town. It became insolvent and Frederick Y. Pitney was appointed receiver in proceedings taken to wind up the affairs of the company. He found it necessary in the progress of his work to have more money than he could obtain from the ordinary transaction of the company’s -business, and in order to obtain funds in January, 1913, he made application to the court *69for leave to borrow money to the extent of $7,000 on receiver’s certificates. Notice of the application…