Farmers' Loan & Trust Co. v. Kansas City, W. & N. W. R.
U.S. Circuit Court for the District of Kansas
In Equity. Bill by tbe Fanners’ Loan & Trust Company against tbe Kansas City, Wyandotte & Northwestern Railroad Company to-foreclose a mortgage. On complainant’s application, a receiver was appointed on condition that priority should be given to certain described claims, to which condition the complainant assented.
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In Equity. Bill by tbe Fanners’ Loan & Trust Company against tbe Kansas City, Wyandotte & Northwestern Railroad Company to-foreclose a mortgage. On complainant’s application, a receiver was appointed on condition that priority should be given to certain described claims, to which condition the complainant assented. Certain of the bondholders were thereafter, on their own application, allowed to become parties defendant, and they now move to strike from the decree the part awarding priority to such claims. At the same time a motion is made to vacare the order making such bondholders parties.
1Opinion of the Court
CALDWELL, Circuit Judge.
On the 2d day of January, 1888, the Kansas City, Wyandotte & Korlhwesfcern Railroad Company executed a mortgage on its railroad and appurtenant property to the Farmers’ Loan & Trust Company, of Kevv 'York, as trustee, to secure the payment of a series of bonds issued by the railroad company, amounting to $3,750,000. On the 21st day of March, 1890, the trustee named in the mortgage filed in this court its bill to foreclose the mortgage. The bill, among other things, alleged that the company was insolvent",, and had made default in the payment of the interest coupons,…
2Cases cited56 opinions
- United States v. LeeSupreme Court of the United States · 1882
- Wilcox v. JacksonSupreme Court of the United States · 1839
- Fosdick v. SchallSupreme Court of the United States · 1879
- Shaw v. Quincy Mining Co.Supreme Court of the United States · 1892
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
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- Illinois Trust & Savings Bank v. DoudCourt of Appeals for the Eighth Circuit · 1900
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