Northampton Trust Co. v. Northampton Traction Co.
Supreme Court of Pennsylvania
Appeals, Nos. 176 and 177, Jan. T., 1921, by Bankers Trust Company, petitioner, from decree of C. P. Northampton County, in equity, Nov. T., 1919, No. 7, denying leave to intervene and defend in case of Northampton Trust Company, Trustee, v. Northampton Traction Company, Easton Trust Company, Trustee, Defendants, Bankers Trust Company, Trustee, intervener. Bill in equity to foreclose corporate mortgage.
Read the full summary
Appeals, Nos. 176 and 177, Jan. T., 1921, by Bankers Trust Company, petitioner, from decree of C. P. Northampton County, in equity, Nov. T., 1919, No. 7, denying leave to intervene and defend in case of Northampton Trust Company, Trustee, v. Northampton Traction Company, Easton Trust Company, Trustee, Defendants, Bankers Trust Company, Trustee, intervener. Bill in equity to foreclose corporate mortgage. Before Stewart, P. J. Petition of Bankers Trust Company to intervene and defend^ The proceedings involved foreclosure on the first mortgage of the Northampton Traction Company. The Bankers…
1Opinion of the Court
Opinion by
Mr. Justice Kephart,
The Northampton Trust Company, trustee under three separate mortgages of the Northampton Traction Company, covering its line- of railway from Easton to Nazareth and Bangor, filed a class-bill as trustee and creditor to declare the traction company insolvent, and place its property under control; later, by amendment to these proceedings, it instituted foreclosure -proceedings under the first mortgage. Then the Bankers Trust Company, owners of junior mortgage bonds, resisted the sale, raising a number of questions, which we will consider in their order, reciting…
2Cases cited14 opinions
- Dickerman v. Northern Trust Co.Supreme Court of the United States · 1900
- Morgan's Louisiana & Texas Railroad & Steamship Co. v. Texas Central Railway Co.Supreme Court of the United States · 1890
- Guaranty Trust and Safe Deposit Co. v. Green Cove Springs and Melrose RailroadSupreme Court of the United States · 1891
- Chicago & Vincennes Railroad v. FosdickSupreme Court of the United States · 1882
- Philadelphia Trust Co. v. Northumberland County Traction Co.Supreme Court of Pennsylvania · 1917
9 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Gordon v. Hartford Sterling Co.Supreme Court of Pennsylvania · 1935
- Arzinger v. BaughmanSupreme Court of Pennsylvania · 1943
- Bily v. Allegheny County Board of Property Assessment, Appeals & ReviewSupreme Court of Pennsylvania · 1945
- Commonwealth ex rel. Chidsey v. Keystone Mutual Casualty Co.Supreme Court of Pennsylvania · 1950
- Taub v. MerriamSuperior Court of Pennsylvania · 1977
16 more not listed; retrieve them via the Exa API.