Farmers' Loan & Trust Co. v. Toledo, A. A. & N. M. Ry. Co.
U.S. Circuit Court for the District of Northern Ohio
Bills in equity by the Farmers’ Loan & Trust Company and others against the Toledo, Ann Arbor & North Michigan Railway and others to foreclose certain mortgages. The suits were consolidated, and decrees vrere taken against defendant pro confesso. ' Subsequently George W. Murray and others, as a committee of the stockholders, petitioned to be made parties defendant, and allowed to file an answer on behalf of the company.
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Bills in equity by the Farmers’ Loan & Trust Company and others against the Toledo, Ann Arbor & North Michigan Railway and others to foreclose certain mortgages. The suits were consolidated, and decrees vrere taken against defendant pro confesso. ' Subsequently George W. Murray and others, as a committee of the stockholders, petitioned to be made parties defendant, and allowed to file an answer on behalf of the company. This is a consolidation of suits for the foreclosure of one general and six divisional mortgages on the railroad of the Toledo, Ann Arbor & North Michigan Railway Company. A…
1Opinion of the CourtTaft, Circuit Judge
(after stating the facts). The petition is undoubtedly defective in this: that it does not show that any attempt has been made to procure the board of directors to make the defenses for the company which the petitioners ask to be allowed to make. The averments of the petition with reference to collusion aifect but four of the eleven directors, and it does not appear affirmatively that the oilier seven directors would not, if requested, make the defenses which the petitioners propose to set up. But, if there is a valid and equitable defense to the claim of §1,443,000 against the defendant…
2Cases cited19 opinions
- National Bank v. MatthewsSupreme Court of the United States · 1879
- Dodge v. WoolseySupreme Court of the United States · 1856
- Nesbit v. Riverside Independent DistrictSupreme Court of the United States · 1892
- Wallace v. LoomisSupreme Court of the United States · 1878
- Close v. Glenwood CemeterySupreme Court of the United States · 1883
14 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Toledo, St. L. & K. C. R. v. Continental Trust Co.Court of Appeals for the Sixth Circuit · 1899
- Continental Trust Co. v. Toledo, St. L. & K. C. R.U.S. Circuit Court for the District of Northern Ohio · 1897
- Kardo Co. v. AdamsCourt of Appeals for the Sixth Circuit · 1916
- Central Union Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1929
- In Re Western Tool & Mfg. Co.Court of Appeals for the Sixth Circuit · 1944
8 more not listed; retrieve them via the Exa API.