Reading Iron Works' Estate
Supreme Court of Pennsylvania
Appeals, Nos. 306, 308, 305, Jan. T., 1892, by general creditors, from decree of C. P. Berks Co., confirming report of auditor of the account of the Reading Trust Company, assignee of the Reading Iron Works. Claim to surcharge assignee. From the report of the auditor, ,it appeared that the assignee had paid out of the proceeds of real estate $100,000 and interest on a judgment of the Phila. & Reading Railroad Co. against the Reading Iron Works.
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Appeals, Nos. 306, 308, 305, Jan. T., 1892, by general creditors, from decree of C. P. Berks Co., confirming report of auditor of the account of the Reading Trust Company, assignee of the Reading Iron Works. Claim to surcharge assignee. From the report of the auditor, ,it appeared that the assignee had paid out of the proceeds of real estate $100,000 and interest on a judgment of the Phila. & Reading Railroad Co. against the Reading Iron Works. Appellants sought to surcharge the assignee with $70,000 of this amount. The material facts in regard to this $100,000 judgment were found by the…
1Opinion of the Court
Opinion by
Me. Justice Steeeett,
Teadesman’s Bank’s Appeal.
An examination of the learned auditor’s report in connection with the evidence upon which it was based, has failed to convince us that there is any error in his findings recited in the first and third specifications, respectively, or in his “ not finding that the board of directors of the Reading Iron Works never authorized or ratified the giving of a judgment note for $100,000 to the Phila. & Reading R. R. Co., for any purpose except for cash loaned them,” as recited in the second specification. On the contrary, we think he was…
2Cases cited2 opinions
- Meckley's AppealSupreme Court of Pennsylvania · 1883
- Appeal of Second National BankSupreme Court of Pennsylvania · 1876