First National Bank of Charlotte v. Jenkins
Supreme Court of North Carolina
Motion for an injunction, before Pearson, C. J., at Chambers in Yadkin County, April 27th 1870. The complaint, filed in Wake Court, set forth that: 1. By an act ratified Dec. 20th 1866, the Company defendant was authorized to issue bonds not to exceed $4,000,000, for the security of whose holders it might execute a mortgage, conveying its franchise, &c., which should be a first mortgage, — a previous loan in favor of the State to be postponed, and made a second mortgage; 2.…
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Motion for an injunction, before Pearson, C. J., at Chambers in Yadkin County, April 27th 1870. The complaint, filed in Wake Court, set forth that: 1. By an act ratified Dec. 20th 1866, the Company defendant was authorized to issue bonds not to exceed $4,000,000, for the security of whose holders it might execute a mortgage, conveying its franchise, &c., which should be a first mortgage, — a previous loan in favor of the State to be postponed, and made a second mortgage; 2. By an ordinance of the Convention oí 1868, passed Eeb. 5th 1868, upon a surrender of $1,500,000 of the above bonds, the…
1Opinion of the CourtBodman, J.
A question is made in tbis case as to tbe right of a plaintiff to appeal from a decision of a Judge, or of a Justice of tbis Court, sitting at Chambers, refusing an injunction. We think tbe right is clearly given by section 299, C. C. P., and we can see no inconvenience in its exercise.
2. As to the principal question :
Tbe plaintiff contends that by virtue of the contract between tbe State and tbe Company, contained in tbe ordinance of 1868, tbe State became a trustee of the property conveyed to it under that ordinance, to wit: of tbe road and of tbe half million of tbe bonds of tbe company;…
2Cases cited3 opinions
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3Cited by11 opinions
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- Jones v. . ThorneSupreme Court of North Carolina · 1879
- Lutz v. . ClineSupreme Court of North Carolina · 1883
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