Simmons v. Burlington, Cedar Rapids & Northern Railway Co.
Supreme Court of the United States
The Burlington, Cedar Rapids and Minnesota Railway-Company was a corporation organized utfder the laws of the State of Iowa, and, in pursuance of its granted powers, had, prior to the litigation which brought the case here, constructed a main line and three branches known as “the Milwaukee Extension,” “ the Pacific Extension,” and “ the Muscatine Western.”
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The Burlington, Cedar Rapids and Minnesota Railway-Company was a corporation organized utfder the laws of the State of Iowa, and, in pursuance of its granted powers, had, prior to the litigation which brought the case here, constructed a main line and three branches known as “the Milwaukee Extension,” “ the Pacific Extension,” and “ the Muscatine Western.” It had at different times executed mortgages, one upon the main line, covering the railway, rolling stock, and franchises held or thereafter to be acquired, securing bonds to the amount of $5,400,000; one subsequent in date upon the…
1Opinion of the CourtJustice Shiras
The decisive questions in this case turn on the character and effect of the decree entered on October 30, 1875. Did that decree leave the rights under the second mortgage, known as the income and equipment mortgage, unadjudicated, and thereby subject the purchasers at the sale under the decree to a future inquiry into those rights, or was the decree final, as respects the property sold thereunder, and do the purchasers, the Burlington, Cedar Rapids and. Northern Railway Company, hold the property free from the lien of the second mortgage?
The answer to these questions must be found in the…
2Cases cited2 opinions
- Chicago & Vincennes Railroad v. FosdickSupreme Court of the United States · 1882
- Abraham v. OrdwaySupreme Court of the United States · 1895
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- Harvey Radio Laboratories, Inc. v. United StatesUnited States Court of Claims · 1953
- Dorff v. BornsteinNew York Court of Appeals · 1938
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