Kimber v. Gunnell Gold Min. & Mill. Co.
Court of Appeals for the Eighth Circuit
In Error to the Circuit - Court of the United States for the District of Colorado. This is an action at law against the Gunnell Gold Mining & Milling Company to recover $38,295 which is alleged to be due from that company upon 37 of its bonds and the coupons attached thereto, a portion of an issue of 750 bonds of $1,000 each which were secured by a mortgage upon all of its property then acquired or thereafter to be secured by the mortgagor.
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In Error to the Circuit - Court of the United States for the District of Colorado. This is an action at law against the Gunnell Gold Mining & Milling Company to recover $38,295 which is alleged to be due from that company upon 37 of its bonds and the coupons attached thereto, a portion of an issue of 750 bonds of $1,000 each which were secured by a mortgage upon all of its property then acquired or thereafter to be secured by the mortgagor. The defendant answered that each of the bonds recited the fact that it was one of 750 bonds of like tenor and effect, the payment of which was secured by…
1Opinion of the CourtSanborn, Circuit Judge
Does the mortgage of all the property of a debtor to secure the payment ratably of its bonds or obligations held by several creditors deprive these creditors of their right to maintain actions at law against their debtor for defaults in the payment of the primary obligations, the bonds or notes of the debtor? It is insisted by counsel' for the defendant that this question was rightly answered in the affirmative by the court below: (i) Because the mortgage in this case provides that, after the default of the mortgagor has continued for six months, the trustee, on the request in writing of the…
2Cases cited10 opinions
- Jackson v. LudelingSupreme Court of the United States · 1874
- Pennock v. CoeSupreme Court of the United States · 1860
- Chicago & Vincennes Railroad v. FosdickSupreme Court of the United States · 1882
- McClelland v. . Norfolk Southern R.R. Co.New York Court of Appeals · 1888
- New Orleans Pacific Railway Co. v. ParkerSupreme Court of the United States · 1892
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3Cited by18 opinions
- First Nat. Bank v. Conway Road Estates Co.Court of Appeals for the Eighth Circuit · 1938
- Muren v. Southern Coal & Mining Co.Missouri Court of Appeals · 1913
- National Surety Corporation of New York v. EllisonCourt of Appeals for the Eighth Circuit · 1937
- Richards v. StewartSupreme Court of Colorado · 1912
- Lidgerwood v. Hale & Kilburn CorporationDistrict Court, S.D. New York · 1930
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