Fidelity Etc. Co. v. West. Penn. Etc. R.
Supreme Court of Pennsylvania
APPEAL BY EIRST N. BANK ET AL. EROM THE COURT OE COMMON PLEAS OE MERCER COUNTY. No. 126 October Term 1890, Sup. Ct.; court below, No. 3 January Term 1887, C. P. in Equity. On November 6, 1886, the Fidelity Insurance, Trust and Safe-Deposit Company filed a bill in equity against the West.
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APPEAL BY EIRST N. BANK ET AL. EROM THE COURT OE COMMON PLEAS OE MERCER COUNTY. No. 126 October Term 1890, Sup. Ct.; court below, No. 3 January Term 1887, C. P. in Equity. On November 6, 1886, the Fidelity Insurance, Trust and Safe-Deposit Company filed a bill in equity against the West. Penn. & Shenango Connecting Railroad Company and W. W. Reed, to enforce a mortgage upon tbe railroad, franchises, etc., of the defendant company, given to the plaintiff as trustee for the holders of certain bonds issued by said railroad company, to secure the payment of said bonds. The cause was so proceeded…
1Opinion of the Court
OpinioN,
Me. Justice Williams :
The fund for distribution in this case was raised by a sale of the franchises, roadbed, and other property of the West. Penn. & Shenango Connecting Railroad Company. The sale was made under a 'decree of the court below in a proceeding begun by the Fidelity Insurance, Trust & Safe-Deposit Company, the trustee named in the mortgage or trust deed given by the railroad company to secure its bonds, for the foreclosure of the mortgage and the sale of the mortgaged property. By the terms of the decree, the sale divested all liens, and passed an unencumbered title to the…
2Cases cited1 opinion
- Fidelity Ins., T. & S. D. Co. v. West. Penn. & S. C. R.Supreme Court of Pennsylvania · 1888
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- Farmers' Loan & Trust Co. v. Toledo, A. A. & N. M. Ry. Co.U.S. Circuit Court for the District of Northern Ohio · 1895
- Wilson, Banking Com'r v. Louisville Trust Co.Court of Appeals of Kentucky (pre-1976) · 1932
- Commonwealth v. RuddleNorthampton County Court of Quarter Sessions · 1891
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