Louisville Trust Co. v. Louisville, N. A. & C. Ry. Co.
Court of Appeals for the Seventh Circuit
Appeal from (he Circuit Court of the United States for the District ' of Indiana. On August 24. 180(5. John T. Mills. Jr., filed a judgment creditors’ bill in Ihe circuit court of the United States for the district of Indiana against the Louisville, New Albany & Chicago Railway Company, and procured ihe appointment of a receiver, who took possession of the property.
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Appeal from (he Circuit Court of the United States for the District ' of Indiana. On August 24. 180(5. John T. Mills. Jr., filed a judgment creditors’ bill in Ihe circuit court of the United States for the district of Indiana against the Louisville, New Albany & Chicago Railway Company, and procured ihe appointment of a receiver, who took possession of the property. On November 12, 180(5, the Farmers’ Loan & Trust Company and John H. Barker, trustees, filed their bill of complaint to foreclose a mortgage upon the property of the railway company, known as the “consolidated mortgage,” securing…
1Opinion of the CourtBunn, District Judge
There are several reasons why the decree in this case should not be disturbed.
1. The intervening petitioner, who is the appellant here, had no standing in the court below. At best, it was only a general creditor of the defendant company, having and claiming to have no interest in or lien upon the real estate and franchises of the company which formed the subject of the foreclosure suits. The petitioner claims to be the owner and holder of certain bonds issued by the Richmond, Nicholasville, Irvine & Beattyville Railroad Company, the payment of which was guarantied by the defendant the…
2Cases cited8 opinions
- Close v. Glenwood CemeterySupreme Court of the United States · 1883
- Stout v. LyeSupreme Court of the United States · 1881
- Bronson v. Railroad Co.Supreme Court of the United States · 1863
- American Loan & Trust Co. v. Minnesota & Northwestern RailroadIllinois Supreme Court · 1895
- Continental Trust Co. v. Toledo, St. L. & K. C. R.U.S. Circuit Court for the District of Northern Ohio · 1897
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3Cited by4 opinions
- Union Trust Co. of Pittsburgh, PA. v. JonesCourt of Appeals for the Fourth Circuit · 1926
- American Loan & Trust Co. v. Central Vermont R.U.S. Circuit Court for the District of Vermont · 1898
- Savings & Trust Co. of Cleveland v. Bear Valley Irr. Co.U.S. Circuit Court for the District of Southern California · 1899
- Farmers' Loan & Trust Co. v. Louisville, N. A. & C. Ry. Co.U.S. Circuit Court for the District of Indiana · 1900