First Nat. Bank v. Sheafer
Supreme Court of Pennsylvania
Appeal No. 169, July T., 1891, by plaintiffs, The First Nat. Bank of Mahanoy City et al., from judgment of C. P. Schuylkill Co., Nov. T., 1890, for defendants, Walter S. Sheafer et al., executors, on case stated. Claim of mortgagee on proceeds of execution. The case stated set out that on Sept. 14, 1885, the then lessee of the South Laurel Ridge Colliery in Schuylkill Co., under a 15 year lease from January 1, 1884, mortgaged the same to defendants’ testator.
Read the full summary
Appeal No. 169, July T., 1891, by plaintiffs, The First Nat. Bank of Mahanoy City et al., from judgment of C. P. Schuylkill Co., Nov. T., 1890, for defendants, Walter S. Sheafer et al., executors, on case stated. Claim of mortgagee on proceeds of execution. The case stated set out that on Sept. 14, 1885, the then lessee of the South Laurel Ridge Colliery in Schuylkill Co., under a 15 year lease from January 1, 1884, mortgaged the same to defendants’ testator. By various executions, the earliest of which was tested April 10, 1890, and some of which were on judgments obtained on labor claims,…
1Opinion of the Court
Opinion by
Mb. Justice Stebbett,
The single question arising upon the facts embodied in this case stated is whether the lien of appellees’ coal lease mortgage of September 14, 1885, for 132,773.86, was divested by the sheriff’s sale of said lease in July, 1890, on appellants’ and other executions.
If the lien of said mortgage was then divested, it is conceded that appellees are entitled to the surplus proceeds of sale, 11,212.73, remaining after payment of costs and the labor claims; but, if not, said surplus should be distributed to appellants and other executions in their order of priority.…
2Cases cited1 opinion
- Hartman's AppealSupreme Court of Pennsylvania · 1884