Blair v. St. Louis, H. & K. R.
U.S. Circuit Court for the District of Eastern Missouri
Demurrer to Answer and Cross-bill. The St. Louis & Keokuk Railroad Company being largely indebted, the stockholders and officers of the company organized the St. Louis, Hannibal & Keokuk Railroad Company, to which they transferred the assets of the St. Louis & Keokuk Railroad Company, in consideration of stock in the new company. The other material facts are stated in the opinion of the court.
1Opinion of the CourtTreat, J.
As the allegations are necessarily taken as true on the demurrers submitted, the question may be briefly stated: A former railroad corporation, being largely indebted, transferred to another corporation all of its assets. The latter corporation proceeded with the contemplated and unfinished work, taking possession of all the railroad bed, etc., of the prior corporation, with notice of the respondent’s demand, not then reduced to judgment. It subsequently issued a mortgage to secure its bonds, and the plaintiff filed his bill to foreclose the same, with an intervening receiver, duly appointed.…
2Cases cited2 opinions
- Thomas v. Railroad Co.Supreme Court of the United States · 1880
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
3Cited by14 opinions
- Grenell v. Detroit Gas Co.Michigan Supreme Court · 1897
- Williams v. Commercial National BankOregon Supreme Court · 1907
- Valley Bank v. MalcolmArizona Supreme Court · 1922
- Arlington Hotel Co. v. RectorSupreme Court of Arkansas · 1916
- Roberts v. W. H. Hughes Co.Supreme Court of Vermont · 1912
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