Falmouth National Bank v. Cape Cod Ship Canal Co.
Massachusetts Supreme Judicial Court
Bill in equity, filed June 25,1894, in behalf of the plaintiff and of all other holders of certain bonds, against the Cape Cod Ship Canal Company, a corporation, Frederic A. Lockwood, Thomas L. Livermore, Quincy A. Shaw, the Farmers’ Loan and Trust Company, a corporation, and Henry M. Phillips, Treasurer of the Commonwealth.
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Bill in equity, filed June 25,1894, in behalf of the plaintiff and of all other holders of certain bonds, against the Cape Cod Ship Canal Company, a corporation, Frederic A. Lockwood, Thomas L. Livermore, Quincy A. Shaw, the Farmers’ Loan and Trust Company, a corporation, and Henry M. Phillips, Treasurer of the Commonwealth. The bill alleged that the plaintiff was the holder of “ certain negotiable coupon bonds known as the Cape Cod Ship Canal Construction Debentures,” of the aggregate.par value of $5,000, with interest coupons attached; that the Cape Cod Ship Canal Company was a .corporation…
1Opinion of the CourtMorton, J.
The question raised by the demurrer is whether the plaintiff is entitled to the relief which it seeks. It bases its right to relief on the fact that it is the holder, in good faith and for value, of certain construction debenture bonds which are past due, and it seeks on its own behalf and that of other like bondholders directly to reach and apply the $200,000 deposited with the State Treasurer, which seems to be the only tangible asset belonging to the canal company, either by way of subrogation to Lockwood, or by way of an equitable lien or mortgage on the property and assets of the canal…
2Cases cited5 opinions
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- Briggs v. Cape Cod Ship Canal Co.Massachusetts Supreme Judicial Court · 1884
- First National Fire Insurance v. SalisburyMassachusetts Supreme Judicial Court · 1881
- Andrews v. MoenMassachusetts Supreme Judicial Court · 1894
- Parker v. MooreNew York Court of Chancery · 1838
3Cited by21 opinions
- McDougall v. Huntingdon & Broad Top R. & C. Co.Supreme Court of Pennsylvania · 1928
- New England Theatres, Inc. v. Olympia Theatres, Inc.Massachusetts Supreme Judicial Court · 1934
- Westall v. WoodMassachusetts Supreme Judicial Court · 1912
- Hurley v. Boston Railroad Holding Co.Massachusetts Supreme Judicial Court · 1944
- Lopez v. Medford Community Center, Inc.Massachusetts Supreme Judicial Court · 1981
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